Firms To Watch: Restructuring and insolvency: PRC firms

Grandall Law Firm is noted for its global network of offices in China and abroad, including Beijing, Shanghai, Hong Kong and New York. Under the leadership of Feng Chen and Jun Ma, the team handles restructurings, reorganisation projects and disputes as well as cross-border insolvency cases.
Kangda Law Firm‘s bankruptcy and restructuring practice is split between Beijing and Chengdu, and specialises in acting for administrators in reorganisations and liquidations. Wei Peng leads the team.
Acting as administrator and trustee of trouble businesses, the Beijing-based team at Zhong Yin Law Firm assists a wide range of clients, including state-owned enterprises, financial institutions, and creditors with debt restructurings and reorganisations. Zhenyu Liu is a key name.

Restructuring and insolvency: PRC firms in China

King & Wood Mallesons

King & Wood Mallesons‘ sizeable team stands out for its expertise in large high-profile insolvency and restructuring cases, typically advising listed and state-owned companies, multinationals and financial institutions. Active in a wide range of sectors, most notably infrastructure, energy, real estate and retail, the practice is geared to handle reorganisations, out-of-court restructurings, cross-border proceedings and corporate dissolutions, among other matters. The group’s leadership is split between debt restructuring expert Yanling Liu, Le Wang who is recommended for restructuring M&A and liquidations, and Shenzhen-based Kuncheng Zhao who has extensive experience in advising listed companies on debt crisis management and reorganisations. In Shanghai, experienced administrator Yuhan Shen is a key contact for insolvency proceedings while Zhaohui Hao handles bond default response and reorganisations for listed companies. Also noted is Shenzhen-based Fuxiang Wang, who is well versed in debt restructuring.

Practice head(s):

Yanling Liu; Le Wang; Kuncheng Zhao

Other key lawyers:

Zhaohui Hao; Fuxiang Wang; Yuhan Shen

Key clients

Kangmei Pharmaceutical Co., Ltd.

Tewoo Group Company Limited and Its 43 Affiliates

Jointly administered bankruptcy liquidation: CEFC (Shanghai) Group Co., Ltd. (“CEFC”) and its 69 affiliates

Bankruptcy liquidation: CEFC (Shanghai) Finance Co., Ltd.

Compulsory liquidation: CEFC (Shanghai) Securities Limited

Henan Huaying Agriculture Development Holding Co., Ltd.

Shandong Yabo Technology Co., Ltd,

Shandong Yabaite Technology Co., Ltd

Guirenniao Co.,Ltd, Quanzhou Intermediate People’s Court

Work highlights

  • Acted as the administrator of Kangmei Pharmaceutical Co., Ltd, and advising on its reorganisation plan.
  • Assisted Tewoo Group Company Limited and its 43 affiliates with guiding, supervising and implementing its reorganisation plan.
  • Advised Henan Huaying Agriculture Development Holding Co., Ltd as its administrator on negotiations with creditors and its reorganistion plan.

Zhong Lun Law Firm

The debt restructuring and non-performing assets practice at Zhong Lun Law Firm has a deep bench of dedicated practitioners across Shanghai, Beijing, Shenzhen and Quingdao, who are frequently retained to handle complex high-profile cases. Often acting as the court-appointed administrator of major listed companies, distressed businesses and financial institutions, the group excels in restructurings, reorganisations, and investments in non-performing assets. From Nanjing, reorganisation and non-performing assets expert Jianhui Tang heads up the team, which includes Shenzhen-based Shengfeng Xu and Bing Wang in Beijing, who together have extensive experience in handling debt restructuring and reorganisations for large listed companies. Shanghai-based Nafisa Nihmat is another key name.

Practice head(s):

Scott Guan; Fei Wang; Jianhui Tang

Other key lawyers:

Shengfeng Xu; Ding Wang; Nafisa Nihmat

Key clients

Beijing New Mileage Health Industry Group Co., Ltd

China General Technology (Group) Holding, Ltd

China Great Wall Asset Management Co., Ltd

Djarum Resources Holdings Co., Ltd.=

Feima Investment Holdings Co.,Ltd

Great Wall(Tianjin)Equity Investment Fund Management Company,Ltd

Guangzhou Lonkey Industrial Co., Ltd

Hainan Development Holdings Co., Ltd

Nanjing Fullshare Industrial Holding Group Co., Ltd. and its 24 affiliates

Qingdao Zhilin Equity Investment LLP and its affiliate

Sanpower Group Co

Shenzhen Feima International Supply Chain Co., Ltd

Shenzhen Fuyin Food Group Co., Ltd

Shenzhen Huaxunfangzhou Investment Co. Ltd

Shenzhen Junma environmental protection Co., Ltd

Shenzhen Protruly Electronics Co., Ltd

Shoujinshang SME Service Co

Xinyijia supermarket Co., Ltd

Work highlights

  • Acted as administrator of Nanjing Fullshare Industrial Holding Group Co., Ltd and its 24 affiliates on its successful reorganisation.
  • Advised on the reorganisation of Guangzhou Lonkey Industrial Co., Ltd, which is overseen by the Guangzhou Intermediate People’s Court.
  • Acted for Hainan Development Holdings Co., Ltd on its RMB11bn strategic investment in the organisation of HNA Group, which includes the listed company Hainan Airport Infrastructure Co., Ltd and HNA Group’s airport assets.

DeHeng Law Offices

DeHeng Law Offices‘ enterprise rescue and bankruptcy team regularly assists domestic companies, state-owned enterprises and foreign-owned businesses with rescue plans and reorganisations. The group is active in a wide range of sectors, including construction, manufacturing, real estate and chemicals, and is noted for its involvement in the drafting and interpretation of insolvency laws. Practice head Liya Fan has extensive experience in handling M&A restructuring and reorganisations for medium and large enterprises. Fan works alongside Chunlei Zhang, who is recommended for liquidations and reorganisation plans, and founding partner Dingku Jiang in Wenzhou, who handles matters from pre-restructuring to judicial restructuring.

Practice head(s):

Liya Fan

Other key lawyers:

Chunlei Zhang; Dingku Jiang;

Key clients

Shanxi Liansheng Energy Co., Ltd

Shandong jinshunda Group Co., Ltd

Henan Construction Group Co., Ltd

Anyang chemical industry Refco Group Ltd

Sanya Luhuitou tourist area development Co., Ltd

Qilu Special Steel Co., Ltd

Shandong Parkson Biotechnology Co., Ltd

Shenyang Wuzhou Commercial Plaza Development Co., Ltd

Beijing Xingda Pharmaceutical Research Co., Ltd

Chengdu Tianxiang environment Co., Ltd

Henan Shengguang Group

Pingdindshan Lushan Yaxing carbon material Co., Ltd

Inner Mongolia Xingye Group Co., Ltd

Henan Fangyuan Carbon Group Co., Ltd

Ningxia Shangling industry (Group) Co., Ltd

Anyang Yongjin Chemical Co., Ltd

Ningxia Yuangao Industrial Group Co., Ltd

Net Securities Co., Ltd

Kangde Composites Co., Ltd

Yiwu Jinting Real Estate Development Co., Ltd

Yiwu Jincheng Real Estate Development Co., Ltd

Yiwu Jingui Real Estate Development Co., Ltd

Zhejiang Ruiji Electronic Technology Co., Ltd

Fujian Longyan Longhua Chemical Co., Ltd

Huainan Jinfeng Yiju Real Estate Investment Co., Ltd

Chenglong Construction Group Co., Ltd

Duban Engineering Construction Co., Ltd

Zhejiang Qianjiang Lithium Battery Technology Co., Ltd

Henan Shanxin Grain Co., Ltd

Kunpeng Asset Management Co., Ltd

Work highlights

  • Advised Shanxi Liansheng Energy Co., Ltd on the merger and reorganisation of 32 enterprises of Liansheng Group.
  • Assisted Shandong Jinshunda Group Co., Ltd as its appointed administrator and with its reorganisation plan.
  • Acted for state-owned construction enterprise Henan Construction Group Co., Ltd on its insolvency proceedings and reorganisation plan.

Fangda Partners

The Shanghai-based team at Fangda Partners is a popular choice for international bondholders, secured and unsecured creditors and financial institutions, which seek out the team for advice on Chinese bankruptcy laws and assistance with onshore restructuring proceedings. Noted for its considerable complex insolvency cases, the group is often appointed as administrator or liquidator by the courts. Nuo Ji overseas the practice and is recommended for cross-border insolvencies, investment in distressed assets and dispute resolution. Kai Li has extensive experience in handling reorganisation plans for listed companies. Lingqi Wang is also a name to note who often acts as an administrator in large complex insolvency cases.

Practice head(s):

Nuo Ji

Other key lawyers:

Kai Li; Lingqi Wang

Testimonials

‘Fantastic team, I would not go anywhere else.’

‘Lingqi Wang is an impeccable lawyer, quick on his feet and very clever, and Nuo Ji is a true elder and highly respected among clients and competitors alike. With them on your side, you can feel confident in success.’

‘Fangda has a very strong insolvency team. I have been working with them on almost all PRC engagements, in particular matters related to taking control of the onshore entities.’

‘Lingqi Wang is very experienced, responsive, and always provides practical solutions.’

Key clients

ZK Engineering

Shanghai CEFC International Group Ltd

Dalian Shipping Industry Offshore Co., Ltd

Huaxin Chemical Fiber Technology Group Co., Ltd.; Yuyao Xinhua xin Fiber Sales Co., Ltd

Shanghai Yuehe Real Estate Co., Ltd

Various Creditors and Counterparties in HNA Bankruptcy

Perun Consulting, as Joint Receivers and Manages of Eastasia Power Holding (BVI)

Kangmei Pharmaceutical Co., Ltd

Neoglory Prosperity Inc

Fujian Star Group Co. Ltd (SG)

Huachen Energy Co., Ltd

Work highlights

  • Acted for ZK Engineering as appointed administrator by Shanghai Third Intermediate Court on its reorganisation and RMB77bn debt restructuring.
  • Advised Fujian Star Group Co., Ltd as appointed administrator by Fuzhou Intermediate People’s Court on its reorganisation plan and RMB1.6bn debt restructuring.
  • Assisted the offshore counsel of the ad-hoc committee of holders of senior notes with the restructuring of Huachen Energy Co., Ltd.

Dentons

The restructuring and insolvency team at Dentons has a proven track record in assisting listed companies, state-owned enterprises and creditors with complex high-profile reorganisation plans and restructurings. With a notable presence in a wide range of sectors, including education, manufacturing, financial services, and real estate, the group often acts as court-appointed administrator as well as trustee in liquidation and dissolution proceedings. The Beijing-based team is jointly led by Guang Han and Meili Gao, who has recently handled a busy caseload of large debt restructurings and reorganisation projects. Other key names include Ting Zhang, Zhibin Zheng and Ying Jian.

Practice head(s):

Guang Han; Meili Gao

Other key lawyers:

Ting Zhang ; Zhibin Zheng; Ying Jian

Key clients

Perking University Founder Group Co., Ltd

China Jilin Forest Industry Group

Citic Guoan Group

Harbin Institute of Technology Group Inc

Shenyang Shengjing Energy

Tsinghua Unigroup

HNA Group

Shenyang Machine Tool (Group) Co., Ltd

Yunnan Dongyuan Coal Industry Co., Ltd

Yunnan Dongyuan Coal & Power Co., Ltd

Tianjin Tewoo Group

Jilin Jien Nickel Industry Co., Ltd

Shenyang North Heavy Industries Group Co., Ltd

Yunnan Jiehua Clean Energy

Tonghua Iron & Steel Group Co., Ltd

Spearhead Integrated Marketing Communication Group

Henan Yinge Industrial Investment Co., Ltd

Zouping Sanli Group Co., Ltd

China Construction Bank Corporation

Fuijian Haixia Bank

Zhong An Xin Technology Co., Ltd

Harbin Bearing Group Corporation

Harbin Bearing Manufacturing Co., Ltd

CLP Huatong Communication Co., Ltd

GAC Parts Co., Ltd

Dongxin Yuanheng International Technology (Beijing) Co., Ltd

Tianfu Lihua Hotel Management (Beijing) Co., Ltd

Aerospace Shenzhou Investment Managament Co., Ltd

Beijing Jingneng Energy Technology Management Co., Ltd

Wanyuan Zhongbang Holdings (Group) Co., Ltd

Work highlights

  • Assisted Perking University Founder Group Co., Ltd as part of the appointed liquidation trustee team with its reorganisation.
  • Acted for listed company Spearhead Integrated Marketing Communication Group as appointed administrator on its reorganisation plan.
  • Advised a securities company on the disposal of defaulted bond assets.

Global Law Office

With offices in Beijing, Shanghai, Shenzhen and Chengdu, Global Law Office is geared to deal with insolvency cases across China. In addition to acting as appointed administrator, the practice is frequently sought after to represent financial institutions and creditors in contentious and non-contentious restructurings and reorganisation plans. From Beijing, Jiuguang Zhao assists listed companies, state-owned enterprises, banks and trust companies with liquidation and dissolution matters alongside Yunjian Hou. In Shanghai, Weiwei Gu focuses on dispute resolution, compliance matters and reorganisations. Also recommended is Shenzhen-based M&A and reorganisation specialist Eric Chen.

Practice head(s):

Jiuguang Zhao; Weiwei Gu; Eric (Jieyi) Chen; Yunjian (Leo) Hou

Testimonials

‘Global’s lawyers are very professional, the quality of service is very high, and the team’s communication channels are very smooth.’

‘In the face of many unexpected situations of cooperation projects, the lawyers can respond quickly with professional and efficient advice. This has been a great help for the smooth progress of our project.’

‘Fees are one of the most reasonable and transparent of the many law firms we have worked with. In terms of high technology, Global’s lawyers make full use of a variety of communication methods and reporting methods in the process of project follow-up and reporting, and interact with us online and offline, ensuring that in various emergency situations, we can maintain a comprehensive and efficient communication channel with them.’

Key clients

Beijing First Intermediate People’s Court

Beijing Chaoyang People’s Court

Beijing Shijingshan People’s Court

Beijing Shunyi People’s court

Beijing Haidian People’s Court

Zhongrong International Trust Co., Ltd

Bloomage Biotechnology Corporation Limited

HSD Engine Co., Ltd

HSBC Bank (China) Company Limited

Sinopec Capital Co., Ltd

Work highlights

  • Acted for Bank of China and Korea Development Bank on matters related to the restructuring of the HNA Group.
  • Represented Bank of China, a state-owned bank, in claims and negotiations with the administrator of Tewoo Group to rescue the bank’s RMB7bn creditor’s right.
  • Acted for Zhongrong International Trust Co., Ltd, a domestic financial institution and a creditor of HXHD, on the restructuring of HXHD.

JunHe LLP

JunHe LLP is geared to handle a wide range of matters, including debt restructuring, voluntary and compulsory liquidation, restructuring M&A and investments in distressed businesses. Its sectorial presence is equally broad, with its recent caseload originating in the real estate, manufacturing, retail and telecom segments. Often acting for creditors, the group is well versed in assisting international clients with protecting their domestic investments in liquidation proceedings. In Beijing, Yang Liu, who has extensive experience in reorganisations and out-of-court restructurings, heads up the practice alongside Shanghai-based Zhengdong Liu. Shanghai-based Ming Dong is recommended for cross-border insolvency cases.

Practice head(s):

Yang Liu; Zhengdong Liu

Other key lawyers:

Ming Dong

Key clients

China Merchants Port Group

Tecnon Electronics

Shang Gong Group Co., Ltd

PartnerX

Shanghai Greencourt Investment Group

Chengdu Yueqin Real Estate Co., Ltd

Guangzhou Pharmaceutical Holdings Limited

Shenzhen Hemei Group

Xiamen C & D Paper & Pulp Co., Ltd

Work highlights

  • Advised a Consortium led by Guangzhou Pharmaceutical Holdings Limited on the restructuring of Kangmei Pharmaceutical as investors.
  • Acted for the Investor and Zhejiang Xinshengda Holding Group Co., Ltd on their participation in the reorganisation proceedings of Universal Pulp and Paper (Shandong) Co., Ltd.
  • Assisted listed company Greencourt Investment as a reorganisation investor with the reorganisation plan of Yuehe Real Estate.

AllBright Law Offices

With a strong presence across Shanghai, Jiangsu, Tianjin and Guangdong, AllBright Law Offices‘ liquidation and reorganisation team regularly acts as appointed administrator in large insolvency cases. The practice is well equipped to handle distressed M&A, debt restructurings, disposal of non-performing assets, and investment in companies through reorganisation. Shanghai-based practice head Zhu Linhai is active in a wide range of sectors, including iron and steel, real estate, construction, energy, and shipping. In Guangdong, Shicai Zong and Chunyan Zhu are recommended for reorganisations and investment transactions. Tianjin-based Lili Jia and Jiangsu-based Yukun Zhang  are also noted.

Practice head(s):

Linhai Zhu

Other key lawyers:

Shicai Zong; Chunyan Zhu; Lili Jia; Yukun Zhang

Key clients

Zhang Yuansheng

Zhongruisen (Tianjin) New Energy Technology Co., Ltd

Fujian Xinhai Metallurgy Co., Ltd

Fuzhou Songxia Gangxinshun Storage Co., Ltd

Fuzhou Xinhang Resource Utilization Innovation Co., Ltd

Fujian Shishi New Federal Real Estate Development Co., Ltd

NanJing Aquamagic Park Co., Ltd

Nanjing Construction Industry Group Co., Ltd

CEFC Shanghai International Group Ltd

Shanghai Wanhao Investment Co., Ltd

Creditors of Yinyi Group Co., Ltd

China Resources Asset Management Ltd

Work highlights

  • Acted for Zhongruisen (Tianjin) New Energy Technology Co., Ltd as administrator on its insolvency settlement case.
  • Acted on the restructuring merger of Fujian Xinhai Metallurgy Co., Ltd, Fuzhou Songxia Gangxinshun Storage Co., Ltd, and Fuzhou Xinhang Resource Utilization Innovation Co., Ltd.
  • Acted for Fujian Shishi New Federal Real Estate Development Co., Ltd as the deputy leader of the liquidation process.

Beijing Highking Law Firm

Beijing Highking Law Firm's insolvency team focuses on non-performing assets, reorganisations and debt restructurings. In addition to acting as appointed administrator, the group is frequently sought after to represent creditors and investors in insolvency enforcement proceedings and disputes. Former judge Zhanpeng Xi heads up the team, which includes Zhiqiang Geng, whose expertise spans commercial litigation and enforcement actions, and Qinghua Zhang, who is praised for her strong leadership and organisational skills’.

Practice head(s):

Zhanpeng Xi

Other key lawyers:

Zhiqiang Geng; Qinghua Zhang

Testimonials

‘The firm’s lawyers are diligent, professional and down-to-earth.’

‘The team’s differentials are its fast response, outstanding expertise, effective communication, and pragmatism.’

‘Qinghua Zhang has strong leadership and organisational skills.’

‘Zhiqiang Geng has a broad legal knowledge and is resilient and technically strong.’ 

Key clients

China National Petroleum Corporation

China Life Insurance (Group) Company

Ping An Property & Casualty Insurance Company of China

Sunshine Insurance Group

CITIC Qingdao Asset Management Co., Ltd

Hubei Jiezhixing Sports Industry Development Co., Ltd

Shunxing (China) Co., Ltd

Beijing Jingfa Real Estate Co., Ltd

GLP

Meijin Energy Group Co., Ltd

Shaanxi Xinnuo Real Estate Development Co., Ltd

Beijing Xianke Zhongdian Power Technology Equipment Co., Ltd

Shandong Super Motor Power Tech Co., Ltd

Hua Xia Bank Co., Ltd Beijing Branch

China Railway Group Limited

Cedar International Trust Co., Ltd

Beijing Ronghe Jutong Investment Management Co., Ltd

Erdong Pictures Group Limited

Work highlights

  • Acted for Shaanxi Heija Real Estate Co., Ltd on its debt restructuring project, which involved an amount exceeding  RMB2bn.
  • Assisted Hubei Jiezhixing Sports Industry Development Co., Ltd with its debt restructuring project, which involved approximately ¥1bn in liabilities.
  • Advised Shaanxi Pubaihuang Expressway Construction Management Co., Ltd on its debt restructuring project, which involved RMB1.8bn in liabilities.

DaHui Lawyers

DaHui Lawyers is particularly active in the financial services, telecoms and tech sectors, where it assists multinational companies in reorganising their operations in China. Noted for its considerable experience in advising on cross-border insolvency cases, the group particularly excels in acting for foreign clients in contentious and non-contentious dissolutions and liquidations. Managing partner Richard Ma is the main contact.

Practice head(s):

Richard Ma

Guantao Law Firm

Guantao Law Firm is noted for its considerable experience in commercial litigation and liquidation proceedings, which makes it a popular choice for companies and financial institutions seeking assistance with insolvency disputes. Often acting for creditors in contentious matters, the team is well versed in settlement proposals for creditors and debtors and asset disposals. From Dalian, Yucheng Jin leads the practice alongside Beijing-based dispute resolution specialist Jianyue Zhu. Other key names include Shaosong Sun, who handles corporate restructuring and antitrust matters, and litigator Guang Yang.

Practice head(s):

Jianyue Zhu; Yucheng Jin

Other key lawyers:

Shaosong Sun; Guang Yang

Key clients

Beijing Urban Construction Nandi Property Management Co., Ltd

The Xihe Holdings (Singapore)

Everbright Prestige Capital Asset Management Co., Ltd

Xiamen Shipbuilding Industry Co., Ltd

Fuijan Mawei Shipbuilding Co., Ltd

China Insurance Investment (Beijing) Co., Ltd

Work highlights

  • Advised Everbright Prestige Capital Asset Management on its Ruixiang 1 Single Asset Management Scheme at a deal value of RMB918m.
  • Acted for China Insurance Investment (Beijing) on its investment in the newly issued shares of China Huarong Asset Management at a deal value of RMB14.8bn.
  • Assisted Beijing Urban Construction Nandi Property Management with its compulsory liquidation.

Hui Ye Law Firm

Based in Shanghai,  Hui Ye Law Firm 's bankruptcy and insolvency team is noted for its extensive experience in acting as appointed administrator of companies in financial distress. The group is particularly active in the manufacturing, real estate, logistics and telecom sectors, where it handles reorganisation plans, restructurings and liquidation proceedings. Shujun Wang, who excels in the disposal of non-performing assets, M&A and tax planning, overseas the group alongside insolvency litigator Michelle Luo.

Practice head(s):

Shujun Wang; Michelle Luo

Key clients

Shanghai Mingyu Real Estate Co., Ltd

Zhongchang Marine (Shanghai) Co., Ltd

Yuan Cheng Logistics Co., Ltd

Zhejiang Zhongqing Real Estate Company and Shaoxing Huijin Hotel

Shanghai Xudao Automotive Parts Co., Ltd

Days Hotel Honglou Shanghai

Kaihua Qinyang Agricultural Trade City Investment Co., Ltd

Longyou Huxin Stainless Steel Co., Ltd

Shanghaiqianjing International Freight Co., Ltd

Shanghai Hongshen Technology Development Co., Ltd

Work highlights

  • Advised Shanghai Mingyu Real Estate Co., Ltd on its insolvency plan.
  • Acted for Zhongchang Marine (Shanghai) Co.,Ltd as appointed administrator on insolvency disputes.
  • Assisted Yuan Cheng Logistics Co., Ltd with liquidation proceedings.

Hylands Law Firm

Hylands Law Firm excels in debt restructuring, disposals of non-performing assets, debt-to-equity swaps, and liquidation schemes. In addition to acting as appointed administrator of distressed companies, the group often represents creditors’ committees in insolvency proceedings. The group is particularly active in the the manufacturing, energy, real estate, and financial services industries. Yu Xu heads up the team, which includes Xiao Han, who has extensive experience in compulsory liquidation cases and reorganisations, and Liping Qin, who is recommended for large-scale restructurings.

Practice head(s):

Yu Xu

Other key lawyers:

Xiao Han; Liping Qin

Key clients

Yurun Holding Group Co., Ltd. And 44

Nanjing Yurun Food Co., Ltd (Yurun Group)

Beijing Huiyuan Food and Beverage Co., Ltd

A real estate development enterprise in Guizhou

An Energy Co., Ltd

Suzhou Tahone Investment Management Co., Ltd

Dalian Donglin Food Co., Ltd

Beijing Longxing Changtai New Material Technology Co., Ltd

Jiangsu Hiteker High-tech Co., Ltd

Beijing Zhongyang Jingkai International Enterprise Management Co., Ltd

Hunan Metalwork Real Estate Development Co. Ltd

Five Affiliated Companies of Xingle Group

Cangnan Rundi Real Estate Co., Ltd

Cangnan Shunda Material Storage Co., Ltd

Zhejiang Xianchao Packaging Co., Ltd

Wenzhou Jinmin Plastic Industry Co., Ltd

Zhejiang Zhongyi Packaging Co., Ltd

Affiliated Enterprises Wenzhou Shuguang Zhengbang Textile Co., Ltd

Shuguang Printing Group Co., Ltd

Wenzhou Cnooc Products Sales Co., Ltd

Work highlights

  • Assisted a real estate development enterprise in Guizhou with its reorganisation plan.
  • Advised Dalian Donglin Food Co., Ltd on its reorganisation plan and claims involving civil and criminal matters.
  • Acted for Beijing Longxing Changtai New Material Technology Co., Ltd as court-appointed administrator on reorganisation proceedings.

Jingtian & Gongcheng

Jingtian & Gongcheng advises financial institutions, investment funds, creditors and private equity firms on distressed M&A, investment in insolvent companies, exit financings and reorganisation proceedings. The group is well versed in cross-border matters, especially insolvency cases involving Hong Kong-based creditors. From Beijing, practice head Bangwei Xu represents domestic and foreign clients from a wide range of sectors, including energy, manufacturing, telecom and financial services, in insolvency disputes. Another key name is Shanghai-based Shiqi Sun who specialises in debt restructuring and dispute resolution.

Practice head(s):

Bangwei Xu

Other key lawyers:

Shiqi Sun

Key clients

Lingzhi Fashion Sales (Tianjin) Co., Ltd

Chlitina

Dentsu

John Bean Technologies

Herbalife

Fujifilm Financial Leasing

ZhongAn Qirui (Shanghai) Capital Management Co., Ltd

Shanghai Qingchen Real Estate Co., Ltd

Lixin (Jiangsu) Energy Technology Co., Ltd

Beijing Sino Market Research Co., Ltd

AviChina Industry & Technology Company Limited

China Risun Group Limited

Work highlights

  • Acted for Lingzhi Fashion Sales (Tianjin) Co., Ltd on a series of contract disputes against insolvent shopping centres.
  • Assisted a subsidiary of a transnational corporation in China that owns multiple well-known fashion brands with restructuring and insolvency proceedings of 92 entities of Xinglong Group as a creditor.
  • Represented CECEP in the declaration of RMB174m creditor’s rights in the reorganisation of Hainan Airlines Holdings Co., Ltd and its affiliated companies.

Tian Yuan Law Firm

Tian Yuan Law Firm‘s Beijing-based team frequently acts as appointed administrator of insolvent companies and is well versed in handling large-scale restructuring projects. A wide range of clients, including listed companies, state-owned enterprises, investors and creditors, turn to the practice for advice on debt-to-equity swap investment, distressed M&A, corporate reorganisations and criminal matters. Aihua Xiao is particularly sought after by asset management companies to handle restructurings, disposal of non-performing assets and M&A transactions. Wei Li is recommended for insolvency litigation and arbitration.

Other key lawyers:

Alihua Xiao; Wei Li; Yukai Zhang

Key clients

China Cinda Asset Management Co., Ltd

Xinjiang Branch of China Cinda Asset Management Co., Ltd

China Galaxy Asset Management Co., Ltd

China Great Wall Asset Management Co., Ltd

Nanyang Commercial Bank (China) Limited

Sinochem Holdings Corporation Ltd

Beijing Chengjian Donghua Real Estate Development Co., Ltd

Beijing Branch of China Cinda Asset Management Co., Ltd

Guangxi Branch of China Cinda Asset Management Co., Ltd

China Cinda Asset Management Co., Ltd

Work highlights

  • Assisted 21 companies including Kaidi Ecological Environment Technology Co., Ltd with a substantive restructuring M&A.
  • Acted for the Beijing Branch of China Cinda on the acquisition of Dongzhimen Project and the target company’s subsequent debt restructuring.
  • Acted on the restructuring of Henan Yulian Group, a major shareholder of ST Zhongfu, and the restructuring merger of six companies including ST Zhongfu.

TianTong Law Firm

With a strong presence in Shanghai and Shenzhen, TianTong Law Firm is particularly known for its strong expertise in cross-border insolvency cases. Acting for investors, creditors, listed companies and SOEs, the group handles reorganisation plans and restructurings, and is often appointed as administrator of insolvent businesses. Shanghai-based Weihong Chi heaps up the team natioanlly, which is active in a wide range of sectors, spanning insurance, real estate, petrochemicals, and manufacturing. Shenzhen-based Wenle Du has extensive experience in debt restructurings and reorganisations.

Practice head(s):

Weihong Chi

Other key lawyers:

Wenle Du

Key clients

Ping An Life Insurance of China

Korean Line Corporation

Yurun Holding Group Co., Ltd

Xinjie Investment Holding Group Co., Ltd

Dongguan Meisaidaxin Electronic Technology Co., Ltd

Qionghai Chenyang Industry and Trade Group Co., Ltd

Hengshi Dachang Technology Co., Ltd

Jinlin Liyuan Precision Manufacturing Co., Ltd

Haohua-Junhua Group Co., Ltd

Work highlights

  • Advised joint investors of Ping An Insurance (Group) Company of China, Ltd on the reorganisation of the Perkin University Founder Group Corp.
  • Acted for the Korean Line Corporation on the merger and reorganisation proceedings of HNA Group Co., Ltd and other 321 companies.
  • Advised Yurun Holding Group Co., Ltd on its insolvency restructuring project.