A bounty notice has once again brought the leading enterprise of the former Nantong Construction Iron Army, Nantong Third Construction and its chairman Huang Yuhui, to the public.

Recently, the Intermediate People's Court of Qingdao City (hereinafter referred to as the Qingdao Intermediate People's Court) issued a notice stating that the person subject to execution, Nantong Sanjian and related senior executives (including chai

According to Yan Yuejin, vice president of the Shanghai Yiju Research Institute, the essence of these reward announcements is that the industry adjustment cycle has had a great impact on enterprises. When the creditor's rights and debt dispute relati

Chairman is Being Offered a Sky-High Reward

The reward for Nantong Sanjian originated from a civil judgment worth 253.5 million yuan.

According to the announcement from the Qingdao Intermediate People's Court, the court's civil judgment (2022) Lu 02 Min Chu No. 213 has become legally effective. However, the executed party failed to fulfill its obligations specified in the legal doc

Therefore, any person who reports to the Qingdao Intermediate Court about the hidden or transferred property of the person subject to enforcement (excluding clues already possessed by the court), and helps the court to implement the enforcement measu

Reward Notice (Part) Picture Source: WeChat Official Account of Qingdao Intermediate People's Court

As a former construction industry giant, Nantong Third Construction has built famous landmarks such as the Oriental Pearl TV Tower, Shanghai World Financial Center, Shanghai Tower, and Capital Airport Terminal 3, with a yearly revenue once exceeding

However, in the first half of this year, the company's revenue reached 95 million yuan and its net profit was negative at 17 million yuan. Its net asset has been negative and the book value of restricted assets reached 230 million yuan.

In terms of the existing bonds, the Daily Economic News reporter found through enterprise warning system that Nantong Third Construction currently has a defaulted bond 19 Nantong Third Construction MTN001 in China with a default amount of 618 million

The current situation of Nantong Third Construction is closely related to Evergrande Group from the outside perspective. According to a rating report released by United Credit earlier, as of the end of June 2021, the contract amount in hand between N

As of the end of June 2021, except for the amounts in hand and already invested but not yet settled, Nantong Third Construction Company's accounts receivable and bills receivable related to Evergrande Group totaled 1.212 billion yuan, with another ap

According to Tianyancha, there are currently 422 pieces of information about Nantong Third Construction Co., Ltd. being involved in dishonesty and non-execution, with a total amount of about 1.063 billion yuan; Huang Yuhui is also in a difficult situ

Rewards in Multiple Regions

This year, courts in many places have issued rewards for real estate companies or their executives.

In July this year, the Intermediate People's Court of Wuxi issued a notice of reward for information leading to the arrest of Zhongnan City Construction Investment Co., Ltd., Zhongnan Holding Group Co., Ltd., and Beijing Chengjian Zhongnan Civil Engi

In addition, on October 20th, the Longhua People's Court of Haikou City issued a reward notice for execution with the defendant as Hainan Shenxin Real Estate Development Co., Ltd. The case involves a housing sales contract dispute, with an execution

"This is quite different from the 'reward for arrest' of public security agencies." Wang Yucheng, director of Beijing Jin Su Law Firm, pointed out in an interview with a reporter from the Economic Daily that the two belong to different procedures - c

"The reward announcement is a specific practice for the people's court to broaden the source of property clues and solve the difficulty of execution through the reward mechanism in response to the characteristics of real estate enterprises subject to

At the same time, the execution of rewards is a reflection of the judicial tradition of "relying on the masses", which can effectively increase the probability of property discovery and force the person subject to execution to take the initiative to

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