Longan has been at the forefront of the evolution of China's bankruptcy laws. With the recent legislative changes, more enterprises are exposed to bankruptcy, as bankruptcy is no longer limited to insolvency. We have participated in several major enterprises' reorganizations and a multimillion dollar debt reorganization of a trust company. Longan published a treatise on applying the concepts of US Chapter 11 in Chinese enterprises' reorganization, which has been one of the most influential publications in this field.
Attorneys at Longan represent or advise enterprises in distress, their shareholders, debtors or other interested parties such as banks, or strategic investors. We work closely with our clients in devising creative and sound reorganization plans, working out disputes among parties and leading enterprises out of crisis.
Our services include:
- Assisting in strategizing for restructuring and reorganization.
- Advising on debt restructuring and settlement.
- Assisting in the appointment of a trustee to manage restructuring and reorganization.
- Participating in negotiations of debt restructuring, insolvency, settlement and liquidation for creditors, debtors or other relevant parties.
- Assisting in due diligence, obtaining third parties' consents and waivers.
- Advising on bank debts restructuring and debt/equity swaps.
- Advising on the rearrangement of enterprises' debts, including reducing the debt burden and extending the repayment deadline.
- Advising on new financing and investment.
- Advising on administrative takeover and liquidation.
- Counseling for creditors, bondholders, leasers, suppliers and other relevant parties.
- Assisting in bankruptcy procedures, avoidance actions and claims for compensation.
- Advising on bankruptcy and insolvency.
- Participating in insolvency suits and enforcement procedures.
