Human Horizons Bankruptcy Reorganization Plan Draft Released

On January 21, Human Horizons released a draft bankruptcy reorganization plan, involving thousands of creditors. The draft proposes a debt repayment plan, including full cash repayment of 630 million yuan for employees, taxes, and social security contributions; priority repayment for 1.156 billion yuan of secured claims; and full cash repayment for unsecured claims of 30,000 yuan or less per claim out of 12.476 billion yuan, with the remainder available for proportional cash repayment or conversion into equity in the new company. Subordinated claims will not be repaid.