RMB10 mln worth of equity of Zhengda Rubber is auctioned
The People’s Court of Xiaoshan District, Hangzhou, Zhejiang province, auctioned the 10-million-yuan-worth of stake in Hangzhou Xiaoshan Huanyahang MicroCredit Co., Ltd. held by Zhejiang Zhengda Rubber Co., Ltd..
The selling price of the auction was 3.53 million yuan, with an earnest money of 700,000 yuan, and the bid increment was 10,000 yuan.
There is civil dispute between Zhengda Rubber and Xiaoshan branch of ICBC, and the Xiaoshan brand refused Zhengda Rubbber to offset the debt with the 10-million-yuan-worth of stake in Hangzhou Xiaoshan Huanyahang MicroCredit.
Before that, the People’s Court of Xiaoshan District auctioned the stake on a judicial sales platform online, but was failed.
In Dec. 2016, the house and land-use rights of Zhengda Rubber in No. 8 Xiaoshan Jiansheerlu were auctioned by the People’s Court of Xiaoshan District for 40.18 million yuan.
Besides ICBC, the company also has civil disputes with the Bank of Communications, Evergrowing Bank, CITIC Bank, Bank of Beijing, Bank of China, and Bank of Hangzhou.
Zhengda Rubber was a trading company of rubber and accessories that had business transactions with Zhongce Tire and Hankook Tire.
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