On December 31, 2021, the Shenzhen Intermediate People’s Court (hereinafter, the “Shenzhen Intermediate Court”) ruled to confirm the completion of the enforcement of the restructuring plan of Shenzhen Hemei Group Co., Ltd. (hereinafter, the “Hemei Group”) and to terminate its bankruptcy proceedings. Hemei Group was successfully restructured and regained its business vitality through the bankruptcy rescue procedures.
On February 1, 2021, the Shenzhen Intermediate Court decided to initiate pre-insolvency restructuring processes against Hemei Group and then ruled to accept the case of the restructuring of Hemei Group on November 29, 2021. JunHe’s Shenzhen office and Shenzhen Chengxin Certified Public Accountants acted jointly as the managers for the pre-insolvency restructuring and the restructuring of Hemei Group. JunHe partner Shen Feng was the responsible person for the managers. During the pre-insolvency restructuring stage, the managers completed the checking and verification of the creditor’s rights, undertook the asset survey, introduced the restructuring of the investors and the formulation of the restructuring plan and other work, all of which laid a solid foundation for the formal restructuring. After entering the restructuring proceedings, all voting groups voted for passing the restructuring plan after 31 days’ of hard work by the managers and the other parties, and on December 29, 2021, the Shenzhen Intermediate Court ruled to approve the restructuring plan and terminate the restructuring proceedings. On December 31, the restructuring plan of Hemei Group was fully implemented, and on January 4, 2022, its stock was listed for trading.
This Project was led by attorneys ZHANG, Jianwei , WU, Lei , YANG, Li and SHEN, Feng , and the partner undertaking the Project was SHEN, Feng . Partners ZHAO, Min, WANG, Wei, LIAN, Jing, DONG, Ming and ZHANG, Huanyan also rendered assistance for this Project at different stages.