Since Hitachi Group announced on 20110 that it would stop repaying the principal and interest, this private lending dispute has evolved from the enterprise's own debt restructuring under administrative guidance to criminal intervention.
20 1 1 During the Wenzhou private lending crisis, Liren Group's capital chain was broken. On June 3rd1day of that year, Liren Group held the "Borrower's Congress". The board of directors announced that it would stop paying the raised funds and interest from 20111for asset restructuring. After unilaterally announcing that private loans would not be honored, Lei, director of Liren Group's board of directors, told the media: According to the internal statistics of the group, the debt of * * * is about 2.2 billion yuan, most of which is private loans, and only a small part is bank loans. The company's assets reach more than 5 billion, and it is not insolvent.
Lawyer Lin of Beijing Jingzhe Law Firm and lawyer Lin of Beijing Zhenbang Law Firm, two Wenzhou lawyers entrusted by some creditors, also disagreed with the figure of 2.2 billion yuan. According to his understanding, considering Liren Group's rolling financing to the private sector in the past decade and billions of principal and interest payments, Lin said that it is estimated that the amount of private financing involved by Liren Group may reach 7 billion to 8 billion yuan.