China Toxic-Asset Management Firm Goho Says It’s Resolving Debts
- Anhui province-backed firm reports using mediation, repayment
- Move comes after shadow bank Zhongzhi filed for bankruptcy
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Goho Asset Management Co., a distressed-asset management firm backed by the government of China’s Anhui province, has resolved outstanding debt obligations through mediation or repayment, according to a post on its Wechat account published on Friday.
The company, which has 4.96 billion yuan ($694 million) under management, acquires and restructures distressed assets to rescue troubled businesses and mitigate financial risks, according to its 2022 annual report.