Bankruptcy trustees reveal their real value
By Yu Ran in Shanghai | China Daily | Updated: 2013-05-27 05:32
A lion sculpture in front of a bank, a common scene in China. Many bankers believe the animal is a "patron saint" of their business and customers. But many in Wenzhou, if their business goes awry or is on the verge of bankruptcy, may turn to special trustees for help because they believe trustees provide a butler-like service, helping them to work out all kinds of detailed restructuring measures to reorganize daily operations and sketch out long-term future plans step by step. Provided to China Daily |
The role of bankruptcy trustees turned out to be essential in saving companies struggling with financial problems in Wenzhou, Zhejiang province, as the number of business failures reached a historical peak in the first quarter.
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