The Kangmei Pharmaceutical is rulined in bankruptcy!Is the investor's $ 2.46 billion compensation hanging?2021-11-27 18:02:49 13 ℃
2.46 billion yuan has to wait.
| Liu Qinwen
Editor 丨 Li Yiming
Source | Wild Horse Finance
The Yu Mei fraud case is not.
Today, the bankruptcy reorganization plan of the Kangmei pharmaceutical industry is set. The Intermediate People's Court of Jieyang City, Guangdong Province, ruled that the Kangmei Pharmaceutical bankruptcy reforming plan was terminated, and the reorganization procedure was terminated. At this point, the Kangmei Pharmaceutical Reforming Plan will formally enter the implementation phase.
According to the results of the first-instance judgment, the Kangmei Pharmaceutical needs to compensate 52,000 investors 2.46 billion yuan. For investors, the most concerned is undoubtedly when money can get the hand. But from the perspective of the reforming plan, it seems to wait again.
How does the investor list fourth payment?
After fake in the country, becoming the defendant of the first collective lawsuit in China. It is necessary to compensate investors 246 billion yuan, but also caused "Director's high escape" phenomenon, Kangmei Pharmaceutical is like a stone in Hanoi, still constantly Effective.
According to the reforming plan, as of November 11, 2021, a total of 5785 documents declared credit to the Kangmei Pharmaceutical, and the total creditor's total declaration was 49.682 billion yuan.
Among them: 5 property guarantee claims, the declaration amount is 422.9 billion yuan; the tax creditor is 1 creditor, the declaration amount is 5.217 million yuan; the ordinary credit is 5,7850, the declaration amount is 45.4 billion yuan. The 1 creditor also declared the property guarantee creditor and ordinary claim, and 1 creditor also declared tax creditor and ordinary claim.
Source: official website
The investor's 2.46 billion yuan compensation is ordinary creditor and is currently being suspended. "It should be because the current special representative of the lawsuit has not yet taken effect, so it is listed as suspended confirmation creditor. According to the normal time, after the first instance of judgment, the judgment begins to take effect. "Beijing Kangda (Guangzhou) Law Firm Lawyer Wu Yue.
According to the announcement, the Secondary and Medium Investor Service Center (hereinafter referred to as "Jade Center") and the Kangmei Pharmaceutical will not appeal. Although in the first-instance judgment, the compensation responsibility of the investment center claims is different from the judgment of the court.
"The prosecution order and judgment of the entry center are inconsistent, the center of the center puts the people in Ma Xingtian in front, asking them to take liability, and then written is the Kangmei Pharmaceutical, I hope that the real-control person will compensate, because Ma Xingtian I misappropriated Kangmei Pharmaceutical Fund. According to the previous "debt repayment commitment", Ma Xingtian promised to pay all funds in cash in cash, and pay 10%, 40%, 50% and interest each year. Now he It has been repayed by $ 1 billion, but it is only 960 million yuan to repayment through the creditor's debt, so the real-control person is actually no money, and the court judges that the listed company is still suitable. "An unwilling name Economists said.
So in most cases, investors will sue the relevant person in charge and the company, and in the judgment of Kangmei Pharmaceutical case, the court classified and analyzed the Kangmei Pharmaceutical and its actual controller, and the direct supervisor high and Zhengzhong Zhujiang Certified Office. And its staff liability, theory is more full. Therefore, the final entry center will choose not to appeal.
In addition, there is a new explanation about the amount of compensation. Since the Kangmei Pharmaceutical is only 10 billion yuan for the collective lawsuit, investors are worried, and the reforming plan is adjusted, according to the $ 245 million credit amount. Leave, will be repaid according to the conditions of payment after being confirmed.
Source: official website
After the amount is confirmed, can investors get compensation smoothly? According to the provisions of the Enterprise Bankruptcy Law, the copy of the creditor has a series of priorities: (1) a series of expenses owed by the bankrupt: (2) Social insurance costs and taxes owed by bankrupt people; (3) ordinary Bankruptcy credit.
Therefore, Kangmei Pharmaceutical Claims is also based on: there is a property guarantee creditor group, the employee creditor group, the tax creditor, and finally the ordinary creditor group. That is, even if the decision is taken into force, the creditor status is confirmed, and it is also necessary to wait until the first few credit is cleared, and the investors will be taken.
There are two kinds of clearing methods for ordinary creditors, with creditors, 500,000 yuan (including 500,000 yuan) credit to pay by cash; 500,000 yuan, part of the share arrest, cash pay-off, trust benefits .
"The creditor's transformation into other equivalents, I hope to protect the original company does not go bankrupt. But there is a little more than Kangmei's value, the market competitiveness is still there, these experts need traditional Chinese medicine companies to judge." Wu Yue said .
According to the reforming plan, more than 500,000 yuan, each 100 yuan of ordinary credit will be about 7.29 yuan in cash, 4.42 trust benefits and approximately 8.829 shares, the stock's debt price is 10 yuan / share.
But as of November 26, St Kangmei reported 4.83 yuan / share, and he failed to the price of bonds.
Multiple first in history of Kangmei Pharmaceutical
The Kangmei Pharmaceutical Financial Leaves, in the history of my country's securities, so far, the number of claims is the highest, the number of compensation has, and its first special representative of the new "Securities Law", with ordinary representative lawsuit Compared with the "addition to joining", the principle of "inspiration to join, express exit" will be covered by investors who meet the compensation conditions to more than 52,000. Behind the case, in addition to the amount of payments, the number of compensation has the most, there is more important factors that are concerned.
Image Source: Pixabay
For example, in the declaration of false statement, the Guangzhou Intermediate People's Court is questioned on "self-media" questioning the release of Kangmei Pharmaceutical Financial Fake Articles, as a false statement reveals the day.
The so-called false statement reveals the day, refers to the first time, the day, such as newspapers, radio, television stations and other media issued or placed nationwide.
In the case of securities false statement, the determination of the exposure date is important, it directly affects whether the stockholders meet the claims. Under normal circumstances, the disclosure of the date of exposure includes, but is not limited to, three factors: 1, revealing the authority of the media and the extensive coverage of the coverage; 2. Confirming whether the content meets the content of false statements; 3, the first time.
"Authoritative" "extensive", for exposing the media, not clearly stipulated, but in the previous dispute case, all mainstream media such as newspaper media, TV media, online media, and the Kangmei pharmaceutical The release date is revealed for false statements.
"This judgment actually recognizes the media influence of the media. So is it all the WeChat public accounts to be a media? This can't be terminated, or to see the effect of the media articles, the reprinted situation of other media Many situations such as the level of the market. "Yan Xiaoli pointed out.
Source: Kangmei Pharmaceutical official website
However, there is still a controversy. Legal responsibility. In the past similar cases, most courts believe that such media reports cannot be revealed, and the clarification of listed companies will explain that fake behavior is continuing. "小丽 lawyers said.
Another unwillingness to sign a securities rights lawyer believe that this case is currently mainstream in accordance with the date of the case, so the Kangmei pharmaceutical financial fraction will expose the date of the investigation of the SFC, that is, December 28, 2018. Day is more in line with the actual situation.
The court gives three reasons for the disclosure of the disclosure: First, the main content of the media is questioned, and the type of finance fraud in the administrative punishment of the China Securities Regulatory Commission is basically the same. In particular, there is a big false speculation about the Kangmei Pharmaceutical and other subjects in the monetary funds. The administrative punishment decision made by the China Securities Regulatory Commission has been confirmed to meet the consistency requirements of the disclosure behavior;
The second is that since the disclosure of the media has triggered a huge market reaction. Kangmei Pharmaceutical stock price is sharply fell sharply in the short term after being questioned from the media, and the trend and the concluding index, the industry index has a large departure, which can determine a strong response to the exposure behavior of the media, indicating that the market is exposed to the market. Exhibit a strong warning to meet the warning requirements for disclosure behavior;
Third, although the disclosure of the article is only the first self-media rather than the official media, but today, published in the news of the media is also possible to rapidly causing more media attention and reprinting. From this case, the relevant article is indeed reproduced by a number of media, and directly leads to Baidu search index and information index of the Kangmei Pharmaceutical. It has become a wide range of public opinion attention to expose the extensive requirements of exposure behavior.
At the same time, the disclosure date is also one of the claims of the investor and the court.
Kangmei Pharmaceutical False
The Kangmei Pharmaceutical was established in 1997 and listed on the board of the board of Stock Exchange in 2001. Upper business, the medicinal material planting, medicinal materials trading, and under production and development, terminal sales have basically run through the Chinese medicine industry chain, medium and downstream industries.
On the evening of October 15, 2018, a timed bomb that was about to shocked the capital market quietly started counting down. Since the media "the first good investment" put the article "There is no lie in the Kangmei Pharmaceutical industry" to press the send button, on October 16th, the WeChat public number "The city value relatively" also released "100 billion Kang Pharmaceutical" Which is a pit? ", A large number of discussions in each platform.
Two articles did not agree that the authenticity of Kangmei Pharmaceutical money funds, the fake characteristics were obvious, there was a high-level problem of the deposit and loan, questioning the financial fake of Kangmei Pharmaceutical.
On October 16th, the Kangmei Pharmaceutical (600518.sh) has fallen, and the closing fell by 5.97%, after three consecutive days, the stock price will be closed, the stock price is a thousand miles.
At this time, the Kangmei Pharmaceutical is still a hundred billion-owned white horse stocks. Although the question is existent, most investors are still firmly held, and the Kangmei Pharmaceutical is still on October 18, and the "Clarification of Media Report" will be released twice on October 26.
But the countless shareholders did not expect that this is just a start. The above article was then widely reprinted by many media, which triggered the supervision department. On December 28, 2018, the China Securities Regulatory Commission released the "Notice" in the Kangmei Pharmaceutical and requested that it actively cooperated. April 30, 2019, bomb explosion. The Kangmei Pharmaceutical issued accounting error correction announcement, indicating that the business income, business cost, cost and payment of Kangmei pharmaceuticals have an incorporation of business income, business costs, fees and payment. Among them, in the 2017 year report, the vane money funds were 29.944 billion yuan. On the same day, the Board Secretary and the Securities Affairs Representative were left.
On May 1st, May 6th, May 13, the Kangmei Pharmaceutical received a number of regulatory letters and inquiry letters.
On May 17, the Securities Regulatory Commission notified the progress of Kangmei Pharmaceutical investigation, and preliminarily investigated the illegal violations of illegal, suspected false statements such as financial reports in Ket Kung Mei Pharmaceuticals 2016-2018. Become a large amount of money in the history of A shares.
On May 21, Kangmei Pharmaceutical Industry Thermatics Heavy Hat becomes "ST Kangmei".
On May 13, 2020, the Securities Regulatory Commission released the "Administrative Punishment Decision Decision", and Chained the fact that Kangmei Pharmaceutical, 2016 to 2018, Kangmei Pharmaceutical, cumulative increased monetary funds 88.68 billion yuan, Accumulated induction operating income is 29.128 billion yuan, accumulating the increasing business profit of 4.101 billion yuan, accumulated multi-interest income of 510 million yuan.
Through financial fake, create a rapid development of performance, the share price of Kangmei Pharmaceutical has begun to rise in 2016. In May 2018, it reaches 27.99 yuan / shares in May 2018, and the total market value has reached a hundred billion, the highest time is 1300 Ten million yuan, becoming a well-deserved medicine "white horse stock".
Source: Oriental Wealth
At that time, the "Administrative Punishment Decision" showed that the Securities and Regulatory Commission revised the Kangmei Pharmacy, giving a warning, and imposed a fine of 6 million yuan, and the 21 responsible personnel were not allowed to wait 900,000 yuan to 100,000 yuan, totaling 5.95 million Yuan fines, the six major responsible people take 10 years to life securities market banned measures.
The survey did not stop this. On February 20, 2021, the SFC announced the administrative penalties for the Zhujiang Zhujiang, the Kangmei Pharmaceutical Audit Agency. Due to the suspected violation of relevant laws and regulations in the Kangmei drug audit business, the Securities Regulatory Commission decided to make corrections to the Zhengzhong Zhujiang River, fined 57 million Yuan.
Until recently, with the company's and auditing amended, the results of investors who were damaged due to financial fraud were released. On November 12, 202, Guangzhou Intermediate People's Court made a first-instance judgment against the Kangmei pharmaceutical collective lawsuit, sentenced to 5,2037 investors to 5,2037 investors, with a total of 47,000 yuan per capita. The case has been the first special representative of the country in China, and it has become the history of my country's securities, so far, it has the highest amount of payments, and the number of compensation has the most.
Are you one of the 52,000 investors? How much compensation can you get? What do you have to do this case? Welcome to the next message discussion.
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