EY to access Dongying Fangyuan in financial distress; foreign banks weigh exposure

International auditing and advisory firm EY has stepped in to assist China’s biggest private copper smelter, Dongying Fangyuan, in navigating problems with frozen assets, lawsuits and access to credit, Fastmarkets has learnt.

“The situation is getting better,” a source with direct knowledge of the matter said, without elaborating on the progress and scope of EY’s assistance.

The Shandong-based smelter, China’s fourth-largest...

Published

Julian Luk

January 13, 2020

10:00 GMT

London