07
Dec
10:21
China bans ex-Haixin Steel chairman from leaving country
Li Zhaohui, formerly chairman of the bankrupt Haixin Iron and Steel, has been issued a court order banning him from leaving China as debts remain unpaid. Haixin was once the largest privately-owned steelmaker in Shanxi province and the plant has since been revived by Jianlong Group, Kallanish notes.
Li, once a billionaire, had personally guaranteed to repay 25% of a CNY 216 billion ($32.6 billion) loan to his Shanghai-based investment company. A court ruled howe…
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Anonymous
Very good overview of the weekly steel market.
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