Dongbei Special Steel has started bankruptcy proceedings in Dalian, Liaoning province. Photo: Reuters Dongbei Special Steel has started bankruptcy proceedings in Dalian, Liaoning province. Photo: Reuters
Dongbei Special Steel has started bankruptcy proceedings in Dalian, Liaoning province. Photo: Reuters

Major Chinese state steel maker starts bankruptcy process after failed debt-to-equity attempt

Bankruptcy filing follows apparent suicide of chairman, defaults on 5.8b yuan of bonds and futile talks with lenders

Dongbei Special Steel has started bankruptcy proceedings in Dalian, Liaoning province. Photo: Reuters Dongbei Special Steel has started bankruptcy proceedings in Dalian, Liaoning province. Photo: Reuters
Dongbei Special Steel has started bankruptcy proceedings in Dalian, Liaoning province. Photo: Reuters
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