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Zhenzhou Elected as Board Member of Provincial Bankruptcy Administrator
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Recently, under the guidance of the Zhejiang High Court, the
Zhejiang Bankruptcy Administrators Association was formally established.
Zhejiang Zhenzhou Law Firm, as the sole representative of law firm in
Zhoushan, was elected as a member of the board of directors.
Zhenzhou law firm ,as the first law firm in Zhoushan ,has been
selected as the first batch of “Zhejiang People’s Court Bankruptcy Case
Managers” since 2007. It has served as the administrator of more than 10
bankruptcy cases. It has the earliest time and the largest number of
bankruptcy cases in zhoushan's law firms and achieved remarkable
results
For example, in the case of mergers and bankruptcy
reorganizations of seven companies including Zhejiang Chuantian
Industrial Investment Co., Ltd., which was completed this year, it has
overcome the difficulties of the number of consolidated bankrupt
enterprises, the large number of employees and creditors, so that the
draft of the reorganization plan was successfully passed. The “three
highs” results of high support rate, high proportion of compensation and
high efficiency of compensation have achieved good results.
As another example, in the bankruptcy liquidation case of
Zhoushan Shanghe Real Estate Development Co., Ltd., the developer's
capital chain was broken, the real estate was unsettled, and the
delivery of the house was overdue. More than 140 households who had
purchased the house were emotionally agitated, and have been strongly
demanding solutions through letters and visits, media and other means
strongly demanded to solve. After Zhejiang Zhenzhou Law Firm took over
as the administrator, the project reconstruction was the first priority
in the case handling. Through re-approval of the amount of engineering,
re-determination of the continued construction unit, multi-party
difficult financing, successful pre-sale of real estate, and other hard
work, finally completed the acceptance inspection on May 17, 2018, and
officially delivered the real estate on May 26. Through the unremitting
efforts of Zhenzhou law firm for nearly three years, it has turned a
ruined and unfinished building into a high-end residential area in
Jintang, and has become a sought-after cake, solving a major livelihood,
and got highly recognized by government departments, households and
all sectors of society.
