East Star counterattack: Expansion 1 billion I want to revive

Absrtact: Yesterday, one of the major shareholders of the East Star Airlines east to Wuhan Chinese Academy submitted to the East Star Air Restructuring application, the application shows that its cooperation with strategic partners to increase the registered capital of East Star Airlines to no less than 1 billion yuan, and the original East Star Airlines registered capital of only 80 million yuan. East Star Aviation, which enters bankruptcy proceedings, is struggling to revive.　　Yesterday, one of the major shareholders of the East Star Airlines east to Wuhan Chinese Academy submitted to the East Star Air Restructuring application, the application shows that its cooperation with strategic partners to increase the registered capital of East Star Airlines to no less than 1 billion yuan, and the original East Star Airlines registered capital of only 80 million yuan. It is reported that the new strategic investors for the Shanghai Woo Industry Co., Ltd., after the restructuring of the original East star aviation shareholders of all shares not exceeding 15%. This big increase in funding seems to show the East Jedi counterattack.　　But the East "Resurrection" of the road can be smooth, lawyers said, according to the current situation is difficult to judge.　　In addition, Air China's parent company Avic Group in charge of the relationship is simply to east, said the move is not related to it and will not have a direct impact on it. East Star Aviation expands the capital to save oneself yesterday, LAN Secretary Jiang surname Personage said, the East Star Country Brigade has the head and the lawyer and so on yesterday has travelled to Wuhan to submit the reorganization application, but just last week, they have just organized the expert to the Yudong aviation reorganization possibility discussion. "This report says that the application for East Star Aviation is not bankrupt and we are reorganizing internally." "The petition for a bankruptcy reorganization revealed a preliminary reorganization plan, one of the main elements of which is the restructuring of the East air rights."　　The original investor of the East Star Aviation will make the most of their own shares and interests, the applicant has reached a cooperation agreement with the strategic investors, the East aviation to increase capital and expand shares. In addition, the East aviation debt will be restructured. The payment of debt to a willing, eligible claim shall be settled at one lump sum, the wages and benefits of the unpaid employees will be resolved at once, and the arrears of national and local taxes will be phased and phased out, and the first rate for ordinary creditors will be no less than 10%. At the same time, East Aviation to provide financing support.　　Financial institutions have pledged to provide a 200 million-yuan acquisition loan quota for the reorganisation.　　Our correspondent was informed that the main business of Shanghai Yu Sector for the aviation industry, real estate, fine chemicals, was founded in 2003, registered capital of 15 million yuan.　　China Airlines: no direct impact on US yesterday, Air China's parent company Avic Group, Ji Hongquan, told reporters that the current situation and the situation in 2 March this year has been very different, after the talks broke, there is no question of the acquisition of East Star Airlines, Air China has set up a branch in Wuhan independent operation.　　China Airlines has been negotiating for the acquisition of East Star Airlines this year, but eventually the two sides failed to agree on a takeover price, and the heavily indebted East Star Airlines then entered the bankruptcy process. In response to this, China's Hubei branch has officially unveiled, High-profile announced from June 25 to officially operate, and plans to open more than 10 domestic and international routes in the year.Founder Securities that East Aviation in Wuhan, the original route resources and 11% of the market share or will be taken over by Air China.　　According to the Wuhan media reports, Air China Hubei branch to accept more than 600 East star aviation staff, including 1/3 of the captain, all the flight attendant on the aircraft, involving all the East star aviation departments. It is understood that the East Star Aviation aircraft, office buildings are leasing, the company's most valuable than the market, customers, routes, moments and other resources. According to the "China Civil Aviation domestic Airline business license Regulations", the route management rights "shall not lease, transfer, sale and Exchange".　　Once the East Star Air Bankruptcy liquidation, its operating routes and the moment will not participate in the auction, and the Chinese Civil Aviation authority to recover. Ji Hongquan said any changes to East Star Airlines were their own will, "it has nothing to do with what we are doing." He said that in the process of development, will absorb some of the East Star Airlines staff, but this is not incorporated, is the public recruitment for the community, Joshuandong Star Airlines staff I would like to join, Air China Hubei Branch is willing to cooperate with the Government's request to absorb some of the staff.　　For yesterday's East Star Country Brigade, such as the launch of a conference announced the introduction of investors, it said it had little impact on the AVIC group, "There is no question of acquiring an East star airline right now and there is no question of acquiring some of the assets", even if the "resurrection" does not go bankrupt and has no direct impact. East can be salted fish June 12, Wuhan China Airlines rejected the Chinese aviation oil and a number of East Aerospace Co., Ltd. of the creditor companies to propose its reorganization application. There are two reasons why the Chinese court in Wuhan is not entertained: one is that the East Star Aviation reorganization has no factual basis. In view of the operating conditions of East Airlines, the insolvency administrator of the East Star Aviation and general company of the law of the aircraft and the engine leasing agreement between the company has begun to exercise the right to recover aircraft and engines, East Star Aviation resumed normal operation is no longer possible, has lost the fact that the reorganization of the basis Second, the creditor has no legal basis for the bankruptcy reorganization of East Aviation.　　Under the provisions of article 70th of the insolvency law, when a creditor of a general company applies for the liquidation of East Aviation, China Aviation oil has no legal basis to apply for bankruptcy reorganization as a creditor.　　The east of the "Resurrection" movement can not be known, there are insiders said that the Wuhan government's attitude is the key, and in accordance with the previous "basis", the East Star airlines to obtain government understanding of the possibility of a new take-off. Yu Guoqiang, a lawyer at Sheng law firm's Legal Affairs Division, said that first, creditors were able to propose a reorganization and liquidation, but if a creditor (GM) had filed a bankruptcy settlement and been entertained, then another power-holder would be illogical to propose a bankruptcy reorganization. If you want to apply for a bankruptcy reorganization and be accepted by the court, under article 79th, only the registered capital of more than 10% of the investors or debtors can apply.　　As for the East star big expansion can make the court release, Yu Guoqiang said it is not yet judged. East Star Airlines: Twists January 09 LAN600 million for the sale of East Star Air, Air China or as a carrier.　　March, Air China chairman Dong said the acquisition of East completed within this month. March 13, East Star Aviation issued a statement on the refusal to cooperate with AVIC Group. March 15, East was suspended from operation due to inability to pay his debts.　　March 16, East said president Lan was asked by the relevant departments to cooperate with the investigation.　　March 30 Wuhan Intermediate People's court issued an announcement, announced that has officially accepted the case of East Star Aviation Co., Ltd. bankruptcy liquidation, the domestic largest private airlines bankruptcy officially into the legal process. In early May, the biggest creditor of China Aviation oil group and other creditors, the Wuhan Intermediate People's Court to the east to implement the bankruptcy reorganization application.　　June 12, Wuhan Chinese Academy rejected the reorganization application. June 22, one of the major shareholders of East Star Airlines east to Wuhan Chinese Academy submitted to the East Star Aviation Restructuring application, and held a press conference that night.