WM Motor's bankruptcy reorganization case has made progress, with ambitious plans for the future

The creditors' meeting of WM Motor Technology Group Co., Ltd. was held via online video on January 21. The reorganization plan (draft) document shows that WM Motor's total debt exceeds 14.8 billion yuan, including secured priority claims, bankruptcy expenses and common debts, employee claims, social security and tax claims, ordinary claims and subordinated claims. In addition, there are more than 11.2 billion yuan of suspended claims. If the court approves the reorganization plan, strategic investors and their designated entities will invest more than 10 billion yuan. The funds will be used to pay common debts, settle various claims, resume work and production, and subsequent business activities.