Last month, China CITIC Bank Tianjin Branch, CNCBI Beijing Branch and CNCBI filed a petition for Pan Sutong’s bankruptcy. The bankruptcy hearing is scheduled for January 26, 2022. Later, Pan Sutong clarified that “this case involved a domestic property asset dispute and has no direct relationship with my Hong Kong business.”
Pan also stated that there is sufficient collateral for the debt related to the petition, and the market value of the collateral is much higher than the related debt. He also stated that he had already made applications for suspension of execution and appeals of relevant court judgments through a team of lawyers. The case has also been scheduled for trial, and he has repeatedly requested China CITIC Bank not to file a bankruptcy petition against him before the results of the relevant application trial.
He stated that he would use the legal team to complain to the court for the unreasonable actions of China CITIC Bank, and firmly protect his own legal rights and defend his innocence against the petition.
Today Goldin Financial fell 4.89% to 0.175 yuan.
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