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On 22 March 2017, the second creditors conference was held by Multi-Micro (Fujian) Electronic Tech. Co., Ltd., making a discussion and taking a vote of the “Reorganization Plan Draft” proposed by the administrator of Multi-Micro. The reorganization plan draft got approved after a division by creditors and investors.

According to the draft, a company located in Hong Kong becomes controlling shareholder of Multi-Micro through equity capital increase. Multi-Micro focuses on R&D and manufacturing of variety microwave & RF products for LTE communication. Affected by the market downturn and other factors, Multi-Micro fell into difficult position. On 20 May 2016, The People’s Court of Licheng District, Quanzhou accepted the reorganization application of Multi-Micro and nominated Multi-Micro liquidation team as administrator.

Guantao acted as legal advisor to the administrator. Guantao team, led by Mr. Jin Yucheng (head of restructuring and insolvency business line), provided legal services for the reorganization.