The merger and reorganization case of 27 companies, including Qixing Group, served by Zhongcheng Qingtai (Jinan) Law firm, was highly praised by bankruptcy law experts.
Published:
2021-04-26
Qixing Group and other 27 companies served by Zhongcheng Qingtai (Jinan) Law Firm Merger reorganization case highly praised by bankruptcy law experts
A few days ago, the substantive merger and reorganization case of 27 companies, including Qixing Group Co., Ltd., in which our firm participated in the whole process as a member of the management organization, was ruled and approved by the court to approve the draft reorganization plan, marking the smooth realization of the merger and reorganization of 27 companies, thus realizing the asset revitalization, transformation and upgrading of the enterprise. In order to further sum up the experience and lessons of this case, review the major and difficult issues, and jointly discuss the hot spots of bankruptcy reorganization theory and practice, the administrator invited well-known national bankruptcy law experts and members of the bankruptcy law drafting group, professors Wang Weiguo, Wang Xinxin, Zou Hailin and Li Yongjun, to attend the expert demonstration meeting to exchange and discuss issues related to this case with court judges and administrators. Deputy Director Wang Jindong of the administrator's Office presided over the seminar.
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In this seminar, lawyer Li Ruzhi, deputy director of the manager's office and deputy director of our institute, introduced the basic situation of the case and the handling of major issues related to the case, mainly including the linkage mechanism between the upper and lower levels in the handling of the case and the linkage and cooperation mechanism between the government and the court, the connection between the reorganization procedure and the out-of-court reorganization, the initiation of merger and reorganization and the handling of related issues, the adjustment of investors' rights and interests, the nature of employee investment funds.
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Experts at the meeting spoke highly of the merger and reorganization case of 27 companies including Qixing Group. They believed that the handling of this case was in line with legal regulations, common practices in judicial practice, and the spirit of the National Court Bankruptcy Trial Work Conference. The working mechanism of working together with the government and the court, gathering the wisdom of all parties, and working together to attack the difficulties, the party committee and the government gave full work support, and the people's court gave full professional guidance, the administrator can be legal, prudent and meticulous in the process of performing his duties, and adopts the substantive merger procedure of the debtors applying for reorganization separately, the administrator applying for merger, and the court organizing a hearing and making a ruling. It properly handles the issues of creditor's rights and debts determination, the existence of subject qualification, and the assumption of guarantee liability in the process of merger trial, which is innovative and forward-looking, as a result, it has dealt with various difficulties smoothly, fully considered the social effects, and effectively protected the rights and interests of all parties. It is worth carefully sorting out and promoting and learning from across the country.
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