The Hong Kong Court of Hong Kong on Tuesday (March 26) ordered Yu Pinhai, the chairman of the parent company of the online media "Hong Kong 01", bankrupt.
Comprehensive Ming Pao and Sing Tao headlines reported that China Construction Bank's company Jianyin International Overseas Co., Ltd. entered the court last October and proposed an application for bankruptcy in Pinhai.
The Hong Kong High Court opened the case on Tuesday.After listening to Chen Ci, the judge Tang Sipei ordered Yu Pinhai to go bankrupt.Yu Pinhai did not appear in court.
Yu Pinhai said earlier that negotiations with creditors Jianyin International Overseas Co., Ltd. broke down.