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phoenix.com technology news, september 4, recently, human horizons investment co., ltd. issued a pre-reorganization decision, which shows that human horizons investment co., ltd. applied to this court for reorganization of the company and pre-reorganization at the same time on the grounds that its assets cannot repay all due debts, but it has reorganization value and reorganization possibility. after the court accepted the case on august 28, it formed a collegial panel to review it in accordance with the law.

the court held thatthe new energy vehicle industry in which human horizons investment co., ltd. is located has broad prospects. pre-reorganization will help improve the efficiency of enterprise reorganization, reduce the cost of enterprise reorganization, give full play to the function of the reorganization system in saving troubled enterprises, and better protect the legitimate rights and interests of creditors. the debtor has pre-reorganization value and meets the pre-reorganization conditions.

therefore, the pre-reorganization application of human horizons investment co., ltd. is accepted.the pre-reorganization period is three months. if there is a legitimate reason, it can be extended for three months upon application by the pre-reorganization administrator.

this means that hiphi auto's parent company human horizons has up to six months to prepare for the statutory reorganization process.

pre-reorganization refers to a system in which creditors, debtors, investors and other interested parties negotiate and discuss matters such as creditor's rights and debts and reach a draft reorganization plan before the debtor enterprise formally enters the statutory reorganization procedure, in order to save the debt crisis enterprise. this system is not clearly stipulated in my country's bankruptcy law, but is a new type of reorganization method that has gradually formed in judicial practice and draws on foreign experience.

the following is the full text of the court ruling: