The bankruptcy of the insurance company to pay for the Chinese yuan billion loans

SGSB February 18 held six session of the Board of Directors, 12 times, the meeting agreed to the company for Huayuan Development to China Construction Bank Shanghai branch of the loan to provide security to undertake joint and several guarantee responsibility of the disposal program. Up to now, Huayuan development to the construction Bank loan principal balance is 100 million yuan, the table outside Shing 65.9887 million yuan. August 30, 2010, the court ruled that Huayuan development bankruptcy reorganization, November 29, 2010, the court decided to approve the reorganization plan and terminate the reorganization process.　　According to the relevant provisions, CCB in the bankruptcy reorganization of the claims of unliquidated rights to the company for recourse. After consultation with CCB, the company agreed to return the principal at a one-time 100 million yuan, exempt the company from the borrower under the loan form Wei the guarantee responsibility, the cancellation company real estate, the land to the borrower under the loan form Wei the mortgage guarantee responsibility, and will the construction bank in the China Source development bankruptcy reorganization the related interest (including stock, The shares, cash and so on that are assigned to the Chinese source development debt guaranteed by a third party listed company shall be transferred to the company.