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Beijing Borgward’s CNY 2.2 billion assets seized by court
On December 9, Beiqi Foton Motor Co., Ltd. (Beiqi Foton) announced that a Beijing court seized CNY 2.2 billion assets from Beijing Borgward Automobile Co., Ltd. (Beijing Borgward), one of Beiqi Foton’s shareholding companies, owing to its inability to repay the debts owed by its suppliers and other creditors.
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