On October 18, 2024, the Business Seminar of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association was successfully held at Longan (Guangzhou) Law Firm in Beijing! Chen Jun, Director of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association, Lan Zonglin, Deputy Director, Xian Ke, Secretary-General, Zou He, Deputy Secretary-General, and Li Dan, Deputy Secretary-General, attended the event. Chen Sheng, a senior partner at Beijing Da Cheng (Zhuhai) Law Firm and a member of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association, and Zhong Hongju, a senior partner at Beijing Da Cheng (Zhuhai) Law Firm and a member of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association, gave special presentations. Zou He, Deputy Secretary-General of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association, served as the host of this event.
Zou He, Deputy Secretary-General
Deputy Secretary-General of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association
Zou He, Deputy Secretary-General, first expressed heartfelt gratitude to Longan (Guangzhou) Law Firm for its strong support for this business seminar. She also introduced the members of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association and the speakers who attended the event. It is hoped that this event will promote more free and relaxed discussions among the members. She期待 everyone can speak freely during the seminar and gain something from it.
Lu Chunlin, Director
Senior Partner at Longan (Guangzhou) Law Firm in Beijing
Lu Chunlin, Director, warmly welcomed the members of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association to Longan (Guangzhou). Director Lu said that bankruptcy restructuring is a popular business in the legal service market in the past two years. Chen Sheng and Zhong Hongju have rich and experienced legal expertise in this field. He was very excited to hear their insightful presentations. Finally, he wished the business seminar of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association a complete success.
Chen Sheng, Lawyer
Senior Partner at Longan (Guangzhou) Law Firm in Beijing and a member of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association
Chen Sheng discussed the “Pre-restructuring Mechanism and Its Connection with the Bankruptcy Restructuring Process” by using three bankruptcy restructuring cases he has handled. Using case-based methods, he explained how creditors can directly apply for bankruptcy restructuring in court. He also explained the concept and advantages of the pre-restructuring mechanism. Then, he shared relevant legal documents and regulations from the Guangdong High Court and Guangzhou Intermediate Court regarding the pre-restructuring mechanism. Regarding how to file for pre-restructuring, he provided detailed answers from three aspects: the entities who can apply for pre-restructuring, the application conditions, and the application documents. Finally, he discussed the connection between the pre-restructuring mechanism and the bankruptcy restructuring process in the context of the Guangzhou Langqi restructuring case.
Zhong Hongju, Lawyer
Senior Partner at Beijing Da Cheng (Zhuhai) Law Firm and a member of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association
Zhong Hongju discussed “The Priority of Construction Project Payments in the Context of Bankruptcy”. He first explained the evolution and application of the priority of construction project payments, including the legislative evolution of the priority of construction project payments, the four elements for contractors to claim limited compensation for construction project payments, and the scope of priority compensation. He said that only those contractors who have signed construction contracts with the employer have the right to priority compensation for construction project payments. Then, he explained how the priority of construction project payments is protected during bankruptcy and restructuring. For example, he discussed the legal basis for using priority compensation for construction project payments in bankruptcy cases, and related issues regarding construction payments in the case of real estate companies going bankrupt. Finally, he analyzed the impact of “back-to-back” clauses on creditor protection and risk prevention strategies from the perspectives of the general contractor and subcontractor.
After the presentation, the members present and the two speakers, Chen Sheng and Zhong Hongju, had a lively discussion on issues such as cross-regional handling of pre-restructuring cases, the selection of bankruptcy administrator institutions, and the priority of construction project payments.
Chen Jun, Director
Director of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association
At the end of the event, Chen Jun, Director of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association, gave a summary speech. He said that he hoped more members would participate in professional activity sharing, and more high-quality seminars could be held, thereby promoting the professional development of lawyers in the field of merger and acquisition restructuring in our province.
This business seminar of the Merger and Acquisition Restructuring Law Committee of the Guangdong Lawyers Association, based on the platform of Longan (Guangzhou) Law Firm, brought together outstanding lawyers in the field of merger and acquisition restructuring in Guangdong Province. They discussed key issues such as the pre-restructuring mechanism and the priority of construction project payments. This is important for strengthening professional exchanges and learning among members and improving the legal service level in the field of merger and acquisition restructuring of the Guangdong Lawyers Association.