China Times (www.chinatimes.net.cn) reporter Liu Jia reports from Beijing
Since the beginning of June last year TOT (trust of the trust) project”exploded with thunder”, Sichuan Trust‘s risk disposal has attracted market attention.
Recently, Sichuan Trust released the”Communication Meeting Minutes” (hereinafter referred to as”Minutes”) on its official website. The”Minutes” pointed out that the three major intermediary agencies had already entered the market in mid-May, and it is expected that Sichuan Trust will issue a question about The official report of the assets and capital verification.
This is also after the”Hongda” wealthy Liu Canglong was detained in Sichuan. The trust and the trustor held the first communication meeting, and publicly responded to the key concerns of the market and the progress of recent risk disposal work.
In this regard, Jinle Function analyst Liao Hekai is being interviewed by our reporter Shi said that the release of the timetable for the liquidation and capital verification report meant that Sichuan Trust had more than one year of consolidation, The moment when the truth comes to light is about to come, its own assets and trust assets, shareholder occupation, etc. As it turns out, there is a basis for the determination of the liability of shareholders. For subsequent investors to redeem, compensate, and Consideration negotiation has laid the foundation.
According to the”Minutes”, on June 7, the head of Sichuan Banking and Insurance Regulatory Bureau, the head of Sichuan Local Financial Supervision Bureau, and the public security Relevant comrades of the economic investigation department, the person in charge of Sichuan Trust and some trustee communication representatives held a communication meeting at Sichuan Trust. The meeting mentioned that Public Security Department has charged Liu Canglong, the actual controller of Sichuan Trust, on suspicion of breach of trust with the use of entrusted property. The personnel took measures of criminal detention and issued an advance notice of administrative punishment to the relevant persons responsible for the Sichuan Trust.
On the same day, Sichuan Trust’s shareholders Sichuan Hongda Co., Ltd. (hereinafter referred to as”Hongda shares”) also issued an announcement, hurriedly dismissing the relationship with Sichuan Trust. According to the announcement issued by Hongda, Liu Canglong is not a member of its board of directors, supervisors and senior executives, and has not held any positionsin the company. >.”At present, the company’s cadres and employees are stable, and daily production and operation are normal.” Hongda shares said.
“The criminal detention of the actual controller means that the Sichuan Trust incident has entered a new stage, and entering the scene after investigation is not a purely civil case. According to the Sichuan Trust’s”Minutes”, this is one of the many advance links. This is an important part of the clarification of the responsibilities of shareholders and related responsible persons and the subsequent centralized judicial processing, which has the meaning of accelerating the process.” Liao Hekai added.
In addition, in terms of promoting the disposal of risky projects, Sichuan Trust stated that it will formulate plans in accordance with”one household, one policy”, and timely adopt Asset preservation measures. The”Minutes” also pointed out that when the jurisdiction was implemented in cooperation with the promotion of judicial concentration, the Chengdu Intermediate Court had organized a special class to promote Related work.”For some cases that have not been transferred so far, we are actively coordinating and resolving the cases. The parties have dealt with the relevant foreign courtsclass="candidate-entity-word" data-gid="20388811" qid="6541607167454106894"> span> raised a jurisdictional objection.”
With regard to the operating mechanism of risk disposal, Sichuan Trust pointed out that the China Banking and Insurance Regulatory Commission and The provincial government jointly established the Sichuan Trust Risk Management Leading Group, which has several special working groups such as the Supervision Working Group to promote risk management.”The supervisory working group and the entrusted service group regularly hold meetings to study key tasks, and major issues are reported to the leading group for decision-making.”
For the recovery of funds, which is generally concerned by the market,”the supervisory working group actively cooperates with Judicial authorities intensify efforts to recover stolen goods. At the same time, further promote shareholder dividend backfill and risk project owners’ performance compensation claims Deduction work, if necessary, coordinate and take relevant judicial measures.” Sichuan Trust said.
It is worth noting that at the end of May 2020, the Sichuan Trust TOT project failed to be paid when it expired. At that time, the total remaining TOT projects of Sichuan Trust amounted to 25.257 billion yuan, of which the maturity scale of 2020-2022 was 12.99 billion, 10.345 billion and 1.922 billion respectively. Since then, Sichuan Trust has tried to sell its own assets and transfer its subsidiaries equity, Increase capital and shares or drew wars to”self-help”, and ultimately failed to tide over the crisis.
Since the Sichuan Trust’s”holes” exceeded 25 billion yuan, the crisis has been postponed so far and has not been effectively resolved, which triggered Trust Contract“Payment of Interest” The “Minutes” stated that due to the complex legal relationship, the distribution matters need to be considered in conjunction with the situation of liquidation and capital verification, legal due diligence, recovery of stolen goods, and the introduction of war investment.”The supervisory working group will carefully study the opinions put forward by the representatives with relevant departments, and make further suggestions in the near future.”
In support of restructuring and coordinating the trust guarantee fund, Sichuan Trust pointed out that it is studying and promoting Sichuan The trust cooperates with professional institutions to dispose of risk assets, and continue to coordinate the trust guarantee fund to study feasible ways to participate in the disposal of Sichuan Trust risk. The territorial government departments and interested strategic investors in and outside the province have repeatedly communicated about restructuring matters. In the future, we will further find out the bottom line through the clearing of assets and capital, and better promote the reorganization work.