East Star Air is declared bankrupt

 

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East Star Air (Wuhan) has lost its effort to restructure its debt and resume operations. The Wuhan Intermediate People’s Court rejected the restructuring plan backed by ChinaEquity on August 27, 2009. The court declared the ChinaEquity funding proposal was too vague and unspecified. China’s fourth private airline suspended operations previously on  March 15, 2009.

 

News link:

www.chinadaily.com.cn/china/2009-08/27/content_8625656.htm