债主、中介质疑百亿债权真实性，这家500强民企重整陷僵局？

Core Viewpoint - The article discusses a significant debt dispute involving over 10 billion yuan in the bankruptcy restructuring case of Chongqing Caixin Enterprise Group Co., Ltd. (Caixin Group), highlighting concerns over the legitimacy of certain creditor claims and the potential impact on the restructuring process [3][4][7]. Debt Dispute Background - The debt dispute arose after Caixin Group was ordered to undergo bankruptcy restructuring in April 2025, with creditors claiming over 100 billion yuan in debts during the claims submission period [3][6]. - Investigations revealed that many of the companies submitting claims had connections to Caixin Group, raising questions about the authenticity of these claims [3][11]. Creditor Claims and Concerns - The total amount of claims submitted by creditors reached 453.91 billion yuan, significantly exceeding initial market estimates of 260-265 billion yuan [8][9]. - A substantial portion of these claims, approximately 178 billion yuan, was flagged as suspicious by various creditors due to the close ties between the claimants and Caixin Group [9][19]. Impact on Restructuring Process - The restructuring process has stalled due to the ongoing disputes over the legitimacy of the claims, with the creditor voting deadline extended to January 9, 2026 [7][22]. - Concerns have been raised that if the disputed claims are confirmed, they could severely limit the available resources for debt repayment to other creditors [4][23]. Audit and Evaluation Findings - The auditing and evaluation firms involved in the restructuring have expressed doubts about the validity of the claims, noting that many were supported only by bank receipts without substantial evidence [18][19]. - The evaluation report indicated that the financial data related to these claims is questionable, making it difficult to assess their recoverability [19]. Legal and Procedural Implications - Legal experts suggest that if the claims are found to be interrelated, they should be subject to mutual offsetting, which has not been applied in this case, potentially complicating the restructuring process further [19][24]. - The article notes that multiple creditors have raised formal objections to the restructuring plan, indicating a potential for further delays or complications in the process [23][24].