Jiangsu Court Orders Substantive Consolidation and Reorganization for Jiangsu Delong Nickel Industry and 27 Firms

According to the civil ruling issued by the Xiangshui County People's Court of Jiangsu Province, the court has decided to conduct substantive consolidation and reorganization for Jiangsu Delong Nickel Industry Co., Ltd. and 27 other companies, with the ruling taking immediate effect.

Relevant creditors are required to declare their creditor's rights to the administrator through online means within the specified period, and specific details will be notified by the administrator. Creditors who fail to declare on time may supplement their declarations before the draft reorganization plan is submitted to the creditors' meeting for discussion, but they will need to bear related expenses. During the implementation of the reorganization plan, creditors who have not declared their rights according to the law shall not exercise their rights, but may do so in accordance with the stipulated terms after the completion of the reorganization plan. Meanwhile, debtorss or property holders are required to promptly discharge debts or deliver property to the administrator. Additionally, property preservation measures against Jiangsu Delong Nickel Industry Co., Ltd. and other companies shall be lifted, and enforcement procedures shall be suspended. Creditors may declare their creditor's rights to the administrator.