By Gabriel Wildau and Carrie Ho
WEIFANG, China (Reuters) – The Chinese official was adamant the city of Weifang would keep its rayon factory open, noting that local authorities had just stepped in to help the plant’s owner repay $60 million in commercial paper.
The bailout averted what would have been China‘s first ever bond default and was good news for domestic bond investors, who were reassured that in China even mid-sized state-owned firms can count on “too-big-to-fail” treatment.
Experience:
WILKESBORO The wife of former NASCAR driver Jeremy Mayfield recently filed for Chapter 7 bankruptcy, allowing her and her husband to remain in their Catawba home.
Shana Mayfield filed for bankruptcy protection by herself in U.S. Bankruptcy Court in Wilkesboro on May 9. She listed liabilities as between $1 million and $10 million, and assets up to $50,000. There will likely be no funds available to give to creditors once the bankruptcy proceedings are completed.
In her campaign narrative, multimillionaire U.S. Senate candidate Linda McMahon has often invoked the hardship of losing her home and filing for bankruptcy more than 35 years ago.
But details have been scarce, and records of the bankruptcy itself are hard to come by.
