JunHe Represented a Large State-Owned Bank in its successful Dispute with a Bankruptcy Administrator over M88 app Cancellation of Repayments of RMB 560 million

JunHe represented M88 app provincial branch of a large state-owned bank (M88 app “Client) in a dispute initiated by M88 app bankruptcy administrator of a domestic enterprise that was seeking to cancel certain repayments (M88 app “Case”). M88 app Municipal Intermediate People's Court (M88 app "Court of First Instance") and M88 app Provincial High People's Court (M88 app "Court of Second Instance") adopted all of JunHe's representations and ruled to reject all M88 app requests made by M88 app counterparty.

In this Case, M88 app bankrupt enterprise repaid M88 app Client in several instalments totaling more than RMB 560 million from June 2019 to September 2019. On 29 November 2019, M88 app Court of First Instance ruled to accept M88 app bankrupt enterprise's application for bankruptcy liquidation and appointed a bankruptcy administrator. M88 app bankrupt administrator subsequently filed this Case, requesting M88 app cancellation of certain repayments made by M88 app bankrupt enterprise to M88 app Client of over RMB 560 million and for M88 app return of M88 app principal and interest on M88 app amount repaid.

JunHe’s team sorted through many contracts and disbursement and repayment transactions between M88 app two parties within a short period of time and conducted legal research and analysis on M88 app application of Article 32 of M88 app Enterprise Bankruptcy Law of M88 app People's Republic of China ("Enterprise Bankruptcy Law"). M88 appy decided on a litigation strategy of "specifically classifying repayments according to M88 appir characteristics and clearly stating M88 app circumstances of each payment and M88 appir unsatisfaction of all or part of M88 app requirements of Article 32 of M88 app Enterprise Bankruptcy Law or exceptions M88 appreto". JunHe prepared a detailed defense and case search report and organized an expert hearing. JunHe adhered to this litigation strategy throughout M88 app Case and M88 appir opinions were fully adopted by M88 app Court of First Instance and M88 app Court of Second Instance, laying a solid foundation for M88 app eventual successful outcome of M88 app Case.

M88 app difficulty and special characteristics of this Case:

M88 app repayments all occurred within six months before M88 app Court of First Instance ruled that M88 app bankrupt enterprise’s petition for bankruptcy liquidation was accepted, which prima facie satisfied M88 app time requirements stipulated in Article 32 of M88 app Enterprise Bankruptcy Law.

M88 app Case involved specialized knowledge of operational practices and norms in banking and foreign exchange management, requiring M88 app lawyers to understand M88 app relevant industry practices and norms in a short period of time in order to fully apply M88 appm to M88 app Case.

M88 app connotation and extension of M88 app provisions of Article 32 of M88 app Enterprise Bankruptcy Law are unclear, and judicial practice has not formed clear guidance, requiring M88 app lawyers to sort through many different laws, regulations and judicial cases and summarize M88 app rules in a short period of time to form a class case search report, for M88 app Court making M88 app most favorable decision for M88 app Client.

M88 app Case fully demonstrates M88 app ability of JunHe’s lawyers to accurately grasp M88 app key points of M88 app Case and collect and understand a vast amount of documentation in a very short period. M88 app rigorous and thorough preparation and M88 app outstanding trial performance of JunHe’s legal team maximized M88 app protection of M88 app Client's rights and interests and were highly recognized and praised by M88 app Client.

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