Yi Liu

Restructuring and Insolvency

Cross-Border Insolvency

Out-of-Court Restructuring and Workouts

Pre-Reorganisation and Judicial Reorganisation

Bankruptcy Administration and Liquidation

Distressed Assets and Non-Performing Loans

Insolvency Litigation, Arbitration and Enforcement

Corporate and Commercial Dispute Resolution

Yi Liu is a Managing Partner and Senior Partner of Everbright Law Firm, Head of its Liquidation & Restructuring Practice and Head of its Hong Kong Office.

He joined Everbright as a trainee in 2008 and has practised as a PRC lawyer since 2009. He became a partner in 2014 and assumed leadership of the firm’s domestic bankruptcy-administrator practice in 2019. He led Everbright’s elevation to first-grade bankruptcy administrator status in Shanghai in 2022 and its retention of that status in 2025. He also led the establishment of Everbright’s Hong Kong Office in 2024.

He holds the professional title of PRC Level II Lawyer.

Council Member, Shanghai Bankruptcy Administrators Association; Chair, Cross-Border Insolvency Practice Research Committee

Council Member and Deputy Director, Shanghai North Bund Corporate Out-of-Court Restructuring Center

Individual Restructuring Officer, inaugural cohort, Shanghai North Bund Corporate Out-of-Court Restructuring Center

Arbitrator, Shanghai Arbitration Commission

Member, Assessment Committee and Financial Instruments Committee, Shanghai Bar Association

Mediator, inaugural panel, Shanghai North Bund Diversified Commercial Mediation Center

Mediator, inaugural panel, Shanghai Oriental International Commercial Mediation Institute

Expert, China Beijing Equity Exchange (CBEX)

Practice Supervisor for Master’s Students, Tongji University

Co-author, Restructuring & Insolvency 2026 – China, Lexology Panoramic, 2026

Co-author, Corporate Reorganisations 2026 – China, Lexology Panoramic, 2026

Co-author, “A Theoretical Review and Empirical Analysis of Cross-Border Insolvency Cooperation between Mainland China and Hong Kong: From the Perspective of Hong Kong Liquidators Performing Duties in Mainland China after the Record of Meeting”, 2025

Editor-in-Chief, Practical Guidelines for Bankruptcy Administrators, Peking University Press, 2024

Co-author, “Keepwell Agreements and Domestic Insolvency Practice: New Perspectives and Challenges”, 2024

Contributor, Legal Practice and Frontier Issues in Futures and Derivatives Compliance, Law Press China, 2024

Author, A Study on the Protection of Shareholders’ Rights, Peking University Press, 2016

Co-translator, Property Management Laws in Major Contemporary Countries, Peking University Press, 2014

FTI Consulting

Kroll

PwC Hong Kong

EY Hong Kong

Red & Orange Company

China Resources Pharmaceutical Group (CR Pharma)

Eternal Asia (EA)

Bolian Group

Yi is recognised for combining technical insolvency analysis with disciplined execution and a clear focus on enterprise rescue and creditor recovery. He works across legal, financial and operational issues, builds multidisciplinary teams and coordinates advisers across jurisdictions.

Institution-building is a defining part of his practice. He has helped develop professional standards, internal quality-control systems and Shanghai’s emerging out-of-court restructuring framework, while mentoring younger lawyers and publishing practical guidance. His approach is straightforward: preserve going-concern value where rescue is viable; where it is not, realise assets efficiently, transparently and with close attention to stakeholder interests.

Shanghai–Hong Kong Recognition and Assistance for Shengyi Kecheng

Co-led the Shanghai–Hong Kong team acting for the PRC administrator in obtaining Hong Kong High Court recognition and assistance for the Shengyi Kecheng insolvency proceeding—the first Shanghai proceeding recognised and assisted under the 2021 Mainland–Hong Kong cooperation framework. The team took control of Hong Kong subsidiaries and recovered more than HKD460 million in cash assets. The matter was named a China Business Law Journal Deal of the Year 2025.

Cross-Border Syndicated Loan Recovery

Led the Everbright team acting for a mainland banking syndicate on the recovery of a near-US$100 million loan to a Hong Kong-listed property group. Through non-contentious takeovers of subsidiaries in Hong Kong, Singapore and Indonesia and the disposal of overseas land, the team achieved full recovery of more than RMB450 million in principal, interest, default interest and recovery costs.

Shanghai Da Zi Ran Reorganisation

Co-led Everbright as court-appointed administrator in converting the liquidation of Shanghai Da Zi Ran Investment Development Co., Ltd. into a reorganisation. The matter involved approximately RMB2.45 billion in liabilities, Shanghai’s first public recruitment of a reorganisation investor through the Shanghai United Assets and Equity Exchange, and DIP-style common-benefit financing. Secured, priority, employee, social security and tax claims were paid in full, while ordinary creditors achieved a first positive recovery.

North Bund Center’s First Out-of-Court Restructuring

Co-led the North Bund Corporate Out-of-Court Restructuring Center’s first accepted matter as restructuring officer. The team helped translate the Center’s trial rules into an operational procedure covering acceptance, claim review, stakeholder negotiations and coordination between an out-of-court workout and subsequent judicial reorganisation.

Chicecream Liquidation

Led Everbright as court-appointed administrator in the liquidation of Chicecream and three wholly owned subsidiaries. The team reviewed more than 250 claims totalling over RMB320 million within two weeks, investigated complex capital contributions involving Hong Kong holding companies and continued litigation to protect estate and brand value.

Chengkai Longcheng Real Estate Rescue

Co-led Everbright as joint court-appointed administrator of Shanghai Chengkai Group Longcheng Real Estate Co., Ltd., involving liabilities exceeding RMB20 billion and a live commercial complex appraised at more than RMB10 billion. The administrators re-signed more than 500 tenant agreements, collected approximately RMB340 million in rent and maintained operations while securing conversion from liquidation to reorganisation.

Yi has more than 15 years of legal experience and handles the full life cycle of corporate distress: early-stage risk diagnosis; out-of-court workouts; pre-reorganisation and judicial reorganisation; bankruptcy liquidation and settlement; administrator and restructuring-officer mandates; investor recruitment and reorganisation-plan design; distressed-asset and non-performing loan transactions; cross-border recognition and assistance; creditor claims and asset recovery; and insolvency-related litigation, arbitration, preservation and enforcement.

He acts for court-appointed administrators, debtors, secured and unsecured creditors, banking syndicates, bondholders and trustees, investors, receivers and offshore liquidators. His matters frequently involve Mainland China and Hong Kong, with coordinated execution in Singapore, Indonesia and other offshore jurisdictions.

East China University of Political Science and Law

Master of Economic Law

Anhui University

Bachelor of Laws

China City Elite — Shanghai Elite, Restructuring and Insolvency, Tier 1

Legal 500

2026

China Top 15 Insolvency and Restructuring Lawyers

Asian Legal Business

2026

China Top 15 Special Recommendation: Debt Restructuring

LEGALBAND

2025

Blue Ribbon 15: Bankruptcy and Restructuring (China)

LegalOne

2025

Second Prize, Outstanding Paper

20th East China Lawyers Forum

2025

Stellar Accolade

LegalOne

2024

Inaugural Dingxin Rule of Law Talent Pool,

Shanghai Municipal Bureau of Justice

2024

Third Prize, Outstanding Paper

19th East China Lawyers Forum

2024

People’s Republic of China (Mainland China)

Hong Kong SAR

Singapore

Indonesia

His work outside Mainland China is conducted on cross-border matters in coordination with locally admitted lawyers and other professional advisers.

Chinese (Mandarin)

English