China Tsinghua Unigroup Says Creditor Seeks Bankruptcy

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China chip giant Tsinghua Unigroup says creditor seeks bankruptcy
The group has nurtured a national memory chipmaking champion – Yangtze Memory Technologies – that aims to challenge market leaders like Samsung and Micron.

Two high-profile projects in China led by Tsinghua – a huge 3D NAND flash memory factory in Chengdu with total investment of up to 200 billion yuan ($30.8 billion) and a DRAM memory chip factory in Chongqing – have hit significant delays and may be scrapped, Nikkei Asia first reported.