In July 31st, the Tongzhou District Nantong people's court declared Nantong Ming German heavy industry Co., ltd..

The publication is as follows: the fact that Nantong has not been reformed, according to the application of the Nantong Ming Tak Heavy Industry Co., Ltd., the company in July 31, 2015 in accordance with the provisions of the people's Republic of China Enterprise Bankruptcy Law, ruled that Nantong Ming Tak Heavy Industry Co., Ltd. restructuring process and declared Nantong Ming German heavy industry Co., ltd..

On 26 December 2014, Nantong TongZhou court ruling accepted Jiangsu Sainty Marine Co., Ltd of Nantong Mingde Heavy Industry Co., Ltd. application for bankruptcy reorganization.

Jiangsu Sainty Marine Co., Ltd. as the creditors of Nantong Mingde Heavy Industry Co., Ltd., according to the law to the court filed bankruptcy reorganization application. Tongzhou court after examination that the applicant Jiangsu Sainty Marine Co., Ltd. Nantong Mingde Heavy Industry Co., Ltd. creditors shall have the right to apply for bankruptcy reorganization of Nantong Mingde Heavy Industry Co., Ltd.. And Nantong Mingde Heavy Industry Co., Ltd. within the statutory time limit agreed to bankruptcy reorganization and unable to repay the applicant of the maturity of the debt, the apparent lack of solvency, cause of bankruptcy has emerged, in line with the conditions for acceptance of bankruptcy law, then the law court accepted Jiangsu Sainty Marine Co., Ltd of Nantong Mingde Heavy Industry Co., Ltd. application for bankruptcy reorganization.

Due to sainty marine rickety has abandoned Mingde bankruptcy reorganization, under the current market situation, the short term apparently did not enterprises have the ability to access disk, so choose bankruptcy seems to be Mingde is currently the only option.