Recently, in the selection of 2022 National Typical Bankruptcy Cases jointly organized by the Editorial Department of the People’s Court Daily, the Editorial Department of the Tribune of Political Science and Law, the Editorial Department of the Journal of Law Application, the China Trial, the Editorial Department of the Journal of China University of Political Science and Law, the Case Study Institute of the China Law Society, pkulaw.cn and the China University of Political Science and Law Research Center for Bankruptcy Law and Corporate Restructuring, the case of bankruptcy and settlement in respect of Zhongruisen (Tianjin) New Energy Technology Co., Ltd. in which we represented the creditors in instituting the bankruptcy proceedings and acted as chairman of the creditors’ meeting earned a nomination.

96 cases in total were sent in for competitive selection. After two rounds of vote, 49 members of the reviewing committee, comprising representatives of the sponsors and scholars from the colleges and universities nationwide who are engaged in bankruptcy law research and hold deputy senior or higher professional titles selected the typical cases.

Source: WeChat Official Account of “News about Bankruptcy Law”

Note: The court actually trying the case is the No.2 Intermediate People’s Court of Tianjin.

Introduction to the case:

Blossom & Credit was instructed by Beijing Zhongruisen Investment Management Center (L.P.) (“Zhongruisen LP”) to file a petition for bankruptcy and liquidation of Zhongruisen with the No.2 Intermediate People’s Court of Tianjin, which was accepted by the Court on July 23, 2020.

Our lawyer filed a proof of claim and attended the first creditors’ meeting on behalf of the creditor Zhongruisen LP, and was appointed by the Court and the receiver as chairman of the creditors’ meeting. As the bankruptcy case involved a large number of creditors and complicated creditor-debtor relations, in the subsequent bankruptcy and liquidation proceedings, our lawyer, on behalf of the creditors, actively communicated with the receiver, cooperated with the receiver in its work, and actively assisted the receiver in communicating with the Baodi Management Committee, so that the debtor successfully received the relevant compensation from the government, thus safeguarding the interests of all creditors. In addition, our lawyer actively coordinated with all parties involved, communicated with all creditors, and finally procured the debtor and all creditors to reach a settlement, thereby safeguarding the rights and interests of our client Zhongruisen LP to the maximum extent practicable, and also ensuring the efficiency of the proceedings and reducing judicial costs.

Our bankruptcy and liquidation practice team focuses on liquidation bankruptcy, reorganization bankruptcy, bankruptcy settlement, corporate liquidation and other non-litigation practices, including without limitation, filing petitions for bankruptcy on behalf of creditors or debtors, filing proofs of claim on behalf of creditors, and providing restructuring-related legal services to debtor companies, and has been providing our clients with comprehensive legal services in civil and commercial matters for years.

In the future, Blossom & Credit will further intensify business researches, continuously improve the efficiency of our practice groups, and provide our clients with top quality services.