Guantao recognized for its work selected as typical case by Beijing Insolvency Court at its 5th Anniversary
On May 15, 2020, Beijing No. 1 Intermediate People's Court held a press conference on "Serving High-quality Development of the Capital through Professional Insolvency Trial", reporting the insolvency trial work of the Beijing Insolvency Court since its establishment five years ago, and releasing the typical cases heard since its establishment. The insolvency settlement of Beijing Zhongchuan Shougao Metallurgical Equipment Co., Ltd. advised by Guantao Beijing office’s insolvency, reorganization and debt restructuring team has been selected as one of the 15 typical cases of the Beijing Insolvency Court at its 5th anniversary, and has been widely publicized by Beijing High People's Court, Beijing No. 1 Intermediate People's Court, Beijing Insolvency Court and China Insolvency Law Forum.
On January 30, 2019, the Beijing Insolvency Court was established as one of the first three insolvency courts approved by the Supreme People's Court. In 2022, Guantao was appointed by Beijing No. 1 Intermediate People's Court as the insolvency administrator for the liquidation of Beijing Zhongchuan Shougao Metallurgical Equipment Co., Ltd. Upon acceptance of the appointment, Guantao actively performed its statutory duties and formed an insolvency administrator team with Sun Shaosong, deputy director of the firm, as the leading partner, Wang Qiao, Tang Xin, Liu Zitai, Zhang Xiaoxu, Liu Yanyu, Niu Yue and Chang Weiwei as members, to carry out the work of insolvency administrator in a timely manner.
The total scale of the claims and debts involved in this case was high, involving a large number of complex work such as employee resettlement, review of related claims, settlement risk investigation, investigation of non-local branch companies and asset sorting, in addition to factors such as Covid-19 pandemic and petition letters, thus the overall handling of the case was difficult and risky. Under the guidance and help of the Beijing Insolvency Court, especially the collegial panel for this case, the Guantao team worked hard continuously for 9 months and finally succeeded in bringing about a settlement of the parties. After the case was closed, the employees, creditor representatives and the debtors presented banners to the collegial panel respectively to express their respect for the efforts made by the judges of the collegial panel to promote the healthy development of private economy. Meanwhile, the parties also spoke highly of Guantao's profound and outstanding professionalism as well as impartiality and compliance. The Beijing Insolveny Court, Beijing No. 1 Intermediate People's Court and Beijing High People's Court have introduced special topics on the trial of the case at their respective official WeChat accounts to the public, supporting the efforts made by Guantao to rescue the troubled private enterprise.
Links to News Conference Reports:
"Beijing Legal Affairs", the WeChat official account of Beijing High People's Court: https://mp.weixin.qq.com/s/CzFd_h1qK9D8G4YVuq6b7gtps://mp.weixin.qq.com/s/CzFd_h1qK9D8G4YVuq6b7g
Beijing No. 1 Intermediate People's Court can be reached via WeChat official account: https://mp.weixin.qq.com/s/KyIYfeCqzPfhHfadSvKUSw
Beijing Insolvency Court can be reached via WeChat official account: https://mp.weixin.qq.com/s/UbUatEpqeeS87mz3OqL2MQ
For the WeChat official account of the China Insolvency Law Forum: https://mp.weixin.qq.com/s/V1fa_ahNGe0m5drIU2L5Rw
