China’s Weilin owes $58m, but cotton farmers, brokers offered $5.5m – Queensland Country Life
Unsecured creditors from across the cotton industry are being warned to expect to be repaid maybe just a fifth of their losses following the collapse of Chinese-owned merchant Weilin Trade owing about $58 million. Latest estimates suggest about 195 cotton growers, brokers, merchants and other service providers have lost money after Weilin bought cotton for…