Ningbo Tianan Group Co., Ltd. went bankrupt?

No On June 28th, 2022, Xiangshan County People's Court of Zhejiang Province decided to accept the application for bankruptcy reorganization of Ningbo Tianan Group Co., Ltd., the respondent. Under the auspices of the court and the participation of interested parties, Ningbo Tianan Group Co., Ltd. got rid of its financial difficulties and resumed its business ability. As of April 30, 2023, the company is still registered and operating normally, so Ningbo Tianan Group Co., Ltd. does not exist. Bankruptcy reorganization is a newly introduced system in the Enterprise Bankruptcy Law, which refers to a legal system that aims at enterprises that may or have appeared bankruptcy reasons but have the hope of maintaining value and regeneration, conducts business reorganization and debt adjustment under the auspices of the court and with the participation of interested parties, so as to help debtors get rid of financial difficulties and restore their operating ability.