CHINA: Creditor Buckles Zhengzhou Baiwen Rescue Hopes
The indebted Chinese retailer Zhengzhou Baiwen Co, has hit yet another snag in its bid for a rescue plan as another creditor has posted a claim against the company. The Shanghai-based Bank of Communications' Zhengzhou branch, has lodged a claim against the company of 16.2m yen ($1.96m) in loans and interest, and arbitrators are reported to have ordered Zhengzhou Baiwen to pay the money back.
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