Bankrupt Smartphone-Maker Edges Toward Liquidation – Caixin Global
Bankrupt smartphone-maker Gionee Communication Equipment Co. Ltd.s liabilities are more than double its current assets, the administrator handling the case said, as the former high-flyer prepares to be liquidated after falling victim to intense competition. The administrator disclosed its estimates of Gionees assets and liabilities at the first meeting of the companys creditors on Tuesday…