ST BLEST's controlling shareholder has been petitioned for bankruptcy liquidation
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According to the Zhitong Finance APP, ST BLEST announced that its controlling shareholder, Tibet Xinhai New Venture Capital Co., Ltd. (hereinafter referred to as "Xinhai New" or "the Respondent"), recently received a notification from the People's Court of Duolong Deqing District, Lhasa City, Tibet Autonomous Region. The applicant, Xingtai Tianlu Real Estate Development Co., Ltd. Economic Development Zone Branch (hereinafter referred to as "the Applicant"), has applied for the bankruptcy liquidation of Xinhai New on the grounds that Xinhai New cannot repay its due debts and is clearly lacking the ability to repay
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