Professional Team... 2024 ALB Award-winning Team-Zhongcheng Qingtai Bankruptcy Reorganization Team Introduction.
Published:
2024-07-15
Recently, Zhongcheng Qingtai Law Firm won the 2024 ALB China Regional Market "East China Bankruptcy Restructuring Law Firm Award of the Year" and "East China Banking and Financial Law Firm Award of the Year" two professional field awards.
Recently, Zhongcheng Qingtai Law Firm won the 2024 ALB China Regional Market "East China Bankruptcy Restructuring Law Firm Award of the Year" and "East China Banking and Financial Law Firm Award of the Year" two professional field awards.
Basic information
The bankruptcy reorganization business of Shandong Zhongcheng Qingtai Law Firm is mainly carried out by the bankruptcy business center jointly set up by various branches. Zhongcheng Qingtai Bankruptcy Business Center is set up and headed by lawyer Li Ruzhi on the basis of the bankruptcy team of the head office. Lawyers Tang Zongjun, Jia Maoyuan and Wei Jinhui serve as deputy directors of the center, and a secretariat is set up to carry out specific work. The business center currently has more than 180 members.
Stavisioning
The members of the Bankruptcy Business Center are composed of four first-level managers (Jinan, Dezhou, Qingdao, Zibo), four second-level managers (Chengyang, Binzhou, West Coast, Yantai) and other lawyers with rich experience in bankruptcy reorganization business. The Bankruptcy Business Center gives full play to the professional and resource advantages of each branch and center member, in-depth sharing and joint construction, and promotes coordinated development through richer business exchanges and landing cooperation, joint efforts, mutual support, and coordinated improvement of service capabilities.
Undertaking case type
The types of legal services undertaken by the Bankruptcy Business Center include serving as a member of the administrator or liquidation group, pre-reorganization auxiliary institution or temporary administrator, administrator consultant, creditor consultant, debtor consultant, investor consultant, providing legal services for bankruptcy planning consultation, company self-liquidation, company compulsory liquidation, debt restructuring, disposal of non-performing assets, investment and financing mergers and acquisitions, etc.
Representative Cases and Personnel
In recent years, the bankruptcy liquidation or reorganization cases handled by the management teams of the bankruptcy center have been rated as typical cases or excellent cases of provinces and cities for many times, with rich experience in handling cases. This year's East China Bankruptcy Reorganization Law Firm Award submitted three typical cases according to the requirements of the organization unit, and submitted to the main members Li Ruzhi, Tang Zong team, Jia Maoyuan, Wei Jinhui, Zhang Lixin, Cai Jian and other six lawyers.
1. Qingdao Jialongteng Real Estate Co., Ltd. Pre-reorganization to Reorganization Case
(I) cases
Qingdao Jialongteng Real Estate Co., Ltd. is 100 wholly owned by Hong Kong Jialongteng Investment Group Co., Ltd. It is the first Hong Kong-funded real estate enterprise in Pingdu City and has developed a number of residential and commercial real estate projects. Longteng Jiayuan is the first batch of old city reconstruction projects in Pingdu City. Longteng Tianxiacheng is the largest commercial and residential complex project in the core area of the project. Affected by the overall situation of the real estate market, coupled with poor management, the company's debt-ridden, non-stop execution, and ultimately difficult to get out of trouble. After the Pingdu Court decided to pre-restructure Jialongteng Company and appointed Jinan as the temporary manager by means of competition and lottery. During the pre-reorganization period, we fully grasped the situation of Jialongteng Company, and set up a communication platform for creditors, foreign shareholders, real controllers, house buyers and employees and other stakeholders. The contradictions were suppressed, and the potential restructuring parties were able to understand the real situation and financial base of the enterprise, which provided a guarantee for the success and efficiency of the subsequent reorganization. After the transition to the reorganization process, the results of the pre-reorganization continued and were efficiently connected with the reorganization process. In the end, Jialongteng Company successfully resolved a total of more than 1.3 billion yuan in debt, revitalized more than 110 acres of land in the central urban area, and ended more than 40 enforcement cases. The rights and interests of property buyers have been protected, realizing the economic, social and judicial benefits of enterprise reorganization. This case exploratory use of the "pre-reorganization" approach, is the first successful case of pre-reorganization to reorganization in Qingdao region, and to "retain debt + cash settlement + debt-to-equity settlement" multi-debt repayment, to help real estate enterprises out of the difficult situation of the reorganization case.
Person in Charge of (II) Case: Lawyer Li Ruzhi
Team Members:Project Leader Zhang Lixin and Lawyers Liu Wenwen, Sun Li and Mao Jinke
Li Ruzhi
Deputy Director of the Law Firm, Deputy Secretary of the Party Committee of Jinan Institute, Senior Partner, First-Class Lawyer, Director of the Bankruptcy Center of Zhongcheng Qingtai Bankruptcy General Office. Served as the director of the Enterprise Merger and Reorganization Committee of Shandong Lawyers Association, the vice chairman of the Jinan Bankruptcy Administrators Association, the personal administrator of the Shandong Higher People's Court for corporate bankruptcy cases, the arbitrator of the Jinan Arbitration Commission, the independent supervisor of Hong Kong listed companies, and the enterprise business of the Shandong Law Society The executive director of the Research Association, the first batch of professional lawyers in the "Company Law" and "Construction Real Estate" of Shandong Lawyers Association. He is an investment evaluation expert of Shandong New and Old Kinetic Energy Fund Company, Shandong Social Security Foundation Council, Shandong Development Group, Shandong Land Development Group, Shandong Lushang Group and other companies. He is good at dealing with major legal affairs such as corporate reorganization, merger and reform, rescue of troubled enterprises, investment and financing, commercial litigation, etc., providing legal services for hundreds of investment and merger projects of central and provincial enterprises, and participating in more than 200 large and medium-sized enterprises' bankruptcy liquidation, reconciliation and reorganization cases as the manager in charge, such as Zhongrong Xinda and other 128 enterprises merger and reorganization case, Qixing Group and other 27 enterprises merger and reorganization case, Shandong Jiexin Paper and other 9 enterprises merger and reorganization case, Linyi Beicheng real estate reorganization case, Shandong Zhonghong real estate reorganization liquidation case, Jinan Foundry Forging Machinery Research Institute bankruptcy liquidation case.
2.Case of Compulsory Liquidation of Qingdao Jimo Master Shipbuilding Co., Ltd.
(I) cases
Qingdao Jimo Master Shipbuilding Co., Ltd. is a key investment promotion project in Qingdao. The company type is a limited liability company (Sino-foreign joint venture) with a registered capital of US $33 million. This case is the first compulsory liquidation case of Jimo District People's Court, which is typical and representative. In the liquidation process, the case not only involves the characteristics of the disposal of state-owned assets, but also takes into account the opinions of foreign parties. In the process of project disposal, the liquidation group, after professional analysis, put forward disposal suggestions, constantly communicated with all parties efficiently, explained the legality and rationality, and finally formed a proper disposal plan, which not only safeguarded the rights and interests of state-owned enterprises, but also protected the rights and interests of Korean shareholders from damage.
The liquidation group actively responded to the risk of international public opinion. The domestic shareholders and the South Korean shareholders could not reach an agreement due to the distribution issue, and the South Korean side has repeatedly exerted pressure through international public opinion. After many rounds of coordination and communication with the three shareholders, the liquidation team finally reached a liquidation plan approved by all parties. The scheme adopts a flexible way to solve the problems of unpaid registered capital and disposal of state-owned assets, which not only meets the demands of all shareholders, but also reasonably increases the proportion of liquidation remuneration.
In the face of the problem of foreign shareholders' remittance, the liquidation group has adopted a series of strategies and measures, which not only ensure the smooth remittance of foreign shareholders' funds, but also set up a set of standardized and replicable operation procedures, providing clear guidance for future practice.
The successful conclusion of the case not only resolved the deadlock of shareholders for nearly 15 years, but also completed the clean-up and recovery of foreign investment of state-owned enterprises, and realized the organic unity of legal, social and economic benefits.
Person in charge of (II) case: lawyer of Tang Zong team
Team Members:Project Leader Chu Chao and Lawyers Man Jianhua and Wang Rongyu
Tang Zong Team
Deputy Director, Senior Partner, Secretary of the Party Working Committee of Qingdao Regional Law Firm, Director of Qingdao Regional Bankruptcy and Liquidation Business Center.
He has served as a consulting expert on civil administrative cases of the Supreme People's Procuratorate, deputy director of the Enterprise Reorganization and Liquidation Committee of Shandong Lawyers Association, director of Qingdao Lawyers Association and director of the Bankruptcy Reorganization Professional Committee, deputy supervisor of Qingdao Bankruptcy Administrators Association, Qingdao Standing director of the Bankruptcy Law Research Association of the Law Society, arbitrators of Qingdao, Shenyang, Zibo and other arbitration committees. He has been rated as an outstanding Communist Party member of the lawyer industry in Shandong Province, a top-notch talent in Qingdao (2023), an advanced individual in judicial administration in Qingdao, an outstanding lawyer in the city, an outstanding Communist Party member in the city, the first "Top Ten Good Citizens" in Qingdao, 2014 Honorary titles such as advanced individuals at the World Horticultural Expo.
The bankruptcy reorganization cases of Qingdao Haishan Development Co., Ltd. and Qingdao Engine Factory in Shandong Province, which were handled by the manager, were respectively rated as the "Top Ten" bankruptcy typical cases of Qingdao Intermediate Court, the top ten typical cases of optimizing the business environment under the rule of law, and the top ten bankruptcy typical cases of Shandong Provincial High Court. The case of a bank's bankruptcy claim confirmation dispute was won by the Supreme Court.
3.Shandong Zhihui Vermicular New Material Technology Co., Ltd. Reorganization Case
(I) cases
On April 10, 2020, Shandong Zhihui Creep New Materials Technology Co., Ltd. applied to the Intermediate People's Court of Zibo City, Shandong Province for bankruptcy liquidation on the grounds that it could not pay off the debts due and the assets were insufficient to pay off all the debts. On May 25, 2020, the Zibo Intermediate Court ruled to accept the bankruptcy liquidation application of Zhihui Company. On February 28, 2023, Zibo Intermediate Court ruled to approve the reorganization plan of Zhihui Company and terminate the reorganization procedure. The draft reorganization plan of Zhihui Company is not approved by the creditors' meeting, especially when the creditors of financial institutions account for a relatively high proportion, but the reorganization plan is not approved due to the constraints of internal approval procedures. Strict review procedures must be performed before the compulsory approval of the reorganization plan, including: 1. The administrator organizes creditors who have not voted to solicit opinions on the reorganization plan; 2. The court organizes creditors to hold a hearing; 3. The government and the court will do a good job in the joint special meeting. Communication and explanation of financial creditors. After the non-voting financial creditors have fully expressed their opinions through the above procedures, the court prudently applies the compulsory approval procedure to achieve the rescue of the enterprise with reorganization value, subject to the premise of compliance with the law. Before the compulsory ruling approval procedure, the case passed a strict review procedure, which is of guiding significance to the handling of such cases.
Person in charge of the (II) case: lawyer Jia Maoyuan
Team Members:Project Leader Cai Jian, Qi Mengyao and Yu Xiaoxiao Lawyers
Jia Maoyuan
Senior partner of the law firm, vice chairman of the board of supervisors, founding partner and party branch secretary of Zibo branch, deputy supervisor of Zibo Lawyers Association, chairman of Zibo Bankruptcy Administrators Association, arbitrator of Zibo Arbitration Commission, arbitrator of Tai'an Arbitration Commission, Visiting professor of Law School of Shandong University of Technology, people's supervisor of Zibo people's Procuratorate. He has successively won the honorary titles of Top Ten Lawyers in Zibo City, Outstanding Party Workers in the Judicial System of Shandong Province, and Outstanding Communist Party Members in the Municipal Judicial Administration System.
Jia Maoyuan has been working as a lawyer since 1997, specializing in non-litigation legal affairs such as corporate restructuring, mergers and acquisitions, bankruptcy reorganization and liquidation, as well as commercial legal litigation arbitration legal business. Has served as more than 20 government agencies and enterprises and institutions of the year-round legal adviser. Jia Maoyuan, as the head of the bankruptcy team of Zibo Branch, handled more than 50 bankruptcy cases. During his tenure as president of the Zibo Bankruptcy Administrators Association, he successively formulated and issued institutional documents such as the work guidelines for bankruptcy administrators and the linkage mechanism between the government and the court, which played a positive role in guiding members to carry out bankruptcy reorganization, liquidation and bankruptcy reconciliation.
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