China Business Law Journal announced its 2021 list of the Deals of the Year on 22 February 2022. Huang & Huang is proud to have been awarded in the section of “Disputes and investigations” for acting as lead counsel in the container leasing contract dispute between “Z” Port and “A” Holdings with a matter of over CNY400 million.
 
The matter between “Z” Port and “A” Holdings involves the application of China’s Enterprise Bankruptcy Law, Maritime Code, Civil Procedure Law and The Special Maritime Procedure Law where some provisions appear to be overlapping or even contradictory with each other. By adopting the innovative approach of pursuing two parallel but not contradictory legal remedies before the maritime court and the bankruptcy court in respect of the same subject matter to exert extreme pressure on the debtor, our lawyers managed to push the case forward in the direction in favour of our client and eventually helped our client achieve a full recovery of the debt from a bankruptcy where the total value of registered claims has reached tens of billions of Chinese yuan.
 

 

With the hit of the pandemic, the number of businesses filed for debt restructuring and bankruptcy is on the rise. How can creditors best protect their legitimate rights and interests through legal means? The innovative approach adopted in the matter between “Z” Port and “A” Holdings can be of a good reference for the handling of similar cases.