HiPhi Motors Officially enters judicial pre-reorganization stage for 'rebirth'
TapTechNews August 10th news, HiPhi Motors released To HiPhi Car Owners on its official website last night (August 9th), announcing that it has officially entered the pre-reorganization stage of the judicial process and is looking for an effective plan for 'rebirth' through self-help methods.
TapTechNews presents the complete content of HiPhi Motors as follows:
Dear car owners,
It's been a long time since we last communicated. Car owners must also be very concerned about the current progress and situation of HiPhi Motors.
Believe that after seeing the decision of the Yancheng Economic and Technological Development Zone People's Court yesterday on agreeing to start the judicial pre-reorganization of Human Horizons (Jiangsu) Technology Co., Ltd., there will be many questions and confusions.
What we want to explain is that the expressions of some self-media and media reports on the current network have serious problems. HiPhi Motors is currently officially entering the judicial pre-reorganization.
This pre-reorganization system can give full play to the management and control rights of the enterprise to be reorganized, and through the negotiation and autonomy of common interests with various related entities under the guarantee of the law, help enterprises in difficulties find a more effective plan for'rebirth' as soon as possible through self-help methods.
The judicial pre-reorganization process can effectively save time and cost, gather the resources and funds of all stakeholders, and improve the efficiency of reorganization.
The most critical thing is that the pre-reorganization 'in' can handle debts in batches through agreement reorganization according to a unified plan; 'out' can exit the process at any time, which has great flexibility and compliance in resolving debts and realizing reorganization.
This judicial pre-reorganization is an important turning point in gradually solving the current difficulties of HiPhi Motors, and it is also a key step in which the government, the court, shareholders, and potential investors recognize the value of HiPhi Motors and promote Human Horizons to solve the creditor problem under the intervention of judicial effect and form a regenerative plan that meets the common interests of all parties as soon as possible.
Judicial pre-reorganization is the first step. After the judicial pre-reorganization reaches an agreement, we will conduct judicial reorganization. In this way, our agreement with creditors can be locked, and the company will officially get on the right track.
The most concerned question of car owners is: 'Does HiPhi have to wait until the end of the reorganization process to start? 6 months? 9 months?' After the start of the reorganization process, the first thing to realize is the normalization of user after-sales service, and the second is the parallel promotion of'reorganization without stoppage of production'.
With the strong support of the government and all shareholders, under the protection of the law, we will conduct in-depth and effective communication with relevant potential investors and actively negotiate with creditors and investors to promote an early resumption of production. In this way, the company can also be promoted to fully return to the right track as soon as possible.
'Judicial pre-reorganization' is not 'bankruptcy reorganization', nor is it 'bankruptcy liquidation'.
With the support of the government, the understanding of car owners, the companionship of partners, and the help of all stakeholders and potential investors, all the HiPhi employees who adhere to it will definitely fight to the end together, strive to promote the resumption of work and production, and at the same time fully guarantee the after-sales service of car owners.
Thank you again for all the ca r owners' understanding and tolerance!
Let's look forward to the nirvana of Human Horizons and its early rebirth!
HiPhi Motors
Related Reading:
HiPhi Motors' Parent Company Human Horizons Enters Pre-reorganization Stage and Has Been Shut Down and Out of Production for Nearly Half a Year
Lifan to Acquire HiPhi Motors? HiPhi Response: Unable to Make Any Comment or Explanation at This Stage
After HiPhi Motors Receives a $1 Billion Investment, It Is Reported That Human Horizons Has Established a Reorganization Working Group and a Joint Operation Working Group
Open the 'Reorganization' Precedent of Chinese Automobile Enterprises? It Is Reported That HiPhi Receives a $1 Billion Investment and Is Rebuilding and Resuming Production