still under investigation

Outstanding debt scale is still under investigation
Vertical group was founded in 2003, the registered capital of 320000000 yuan, the legal representative of Dong Shunsheng. Its predecessor, Dong Shunsheng in 1998 by the founder of the Taishun County Yucai senior high school. In the former, the company's existing high school, kindergarten, the company a total of 36 home, located in Inner Mongolia, Jiangsu and throughout the country, since 2005, the company operating to expand the scope of real estate development, investment in mining areas.

In the last outbreak of the Wenzhou civil lending crisis, Liren group fund chain break. In October 31, 2011, Li people group is held "the congress". The board of directors announced on November 1, 2011, stop payment of financial capital and interest, the reorganization of assets.

In unilaterally declared not to honour the folk loan, Liren group board of directors ray grass expresses to media: according to internal statistics, total liabilities 2200000000 yuan, most of that was the private loans, only a tiny fraction of the bank loan, and the company 's assets reached about 5000000000, not insolvent.

Zhou Rong Hong said, 2200000000 yuan debt just Liren group unilateral offer amount, the real amount still in statistics. The government of Taishun County of Wenzhou city has hired an accounting firm, respectively, in Shanghai, Inner Mongolia, Jiangsu and other vertical group more than 20 enterprises to carry out the assets and liabilities of.

By some creditor agency in the case of two Wenzhou Nationality Law -- Beijing Jing zhe lawyer Zhang Renhe Beijing Zebon lawyer Lin Caihong for $2200000000 and this number to dissent.
Lin Caihong told the paper, according to his understanding, make people group in Inner Mongolia and Jiangsu coal mines and the real estate business have also taken place in the folk financing, including three hundred million or four hundred million in Inner Mongolia, Jiangsu about 700000000, these creditors or for the future and registration and creditor's rights confirmation, but not included in the.

Taking into account the ten years up to the folk financing and rolling group has billions of principal and interest payment, Lin Caihong said, estimating vertical group involved in the folk financing amount can reach 7000000000 to 8000000000 yuan.