A Chinese precision manufacturing and equipment maker is in distress with total outstanding debt of RMB45 billion (US$7 billion). Government officials in Zhejiang province, where DunAn Group is based, and creditors have gathered to discuss solutions for the company’s escalating debt crisis. The case, which is likely to be one of the biggest corporate restructuring cases in China lately, represents a broader trend of increased distress among corporate China as the country deleverages. For DunAn, the difficulty to issue new …

Chinese Equipment Maker DunAn In Distress With Total Debt Of $7 Billion To Be Restructured appeared first on China Money Network.