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Tongfang has long regarded bankruptcy as a key area of business development, striving to create high-quality case studies. Grounded in industrial development and regional revitalization, Tongfang focuses on value discovery and the revitalization of existing assets. As a bankruptcy administrator, Tongfang has handled 56 bankruptcy cases and 6 compulsory liquidation cases, re-employing over 10,000 workers through bankruptcy proceedings, resolving debts exceeding 10 billion yuan, and revitalizing assets worth several billion yuan.

Tongfang has actively explored and achieved remarkable results in areas including the rescue of high-quality assets, the harmless transfer of debt, the placement of employees from state-owned enterprises in Northeast China, financing for common-interest debts, incentives for investor recruitment, investment structure design, establishment of debt-to-equity conversion platforms, trust-based debt repayment plans, employee creditor rights trusts, management of mass incidents, and government communication. Through these efforts, Tongfang has successfully fostered the harmonious coexistence of legal and social values. The bankruptcy and reorganization case of Zhongshun Automobile Holdings Co., Ltd., organized by Tongfang, was designated by the Supreme People's Court as one of the “Top Ten Typical Bankruptcy Cases Nationwide.” To date, this case remains the only one from the Northeast region to be included in this prestigious list.

Business Type / Service Content / Scope

Enterprise Distress Diagnosis and Restructuring Value Assessment

Conduct a comprehensive diagnosis of the company’s debt, assets, and operational status, and assess whether it possesses reorganization value and potential for revival.

Asset and Debt Structured Restructuring

Streamline and optimize the asset and debt structure, design a debt repayment plan, and promote debt restructuring and asset revitalization.

Out-of-Court Restructuring and Pre-Restructuring Counseling

Assist enterprises in independently negotiating with creditors, conducting out-of-court restructurings, and facilitating the seamless transition from pre-restructuring procedures to judicial reorganization.

Bankruptcy Reorganization and Liquidation Proceedings Representation

Agencies, creditors, or investors participate in bankruptcy reorganization, liquidation, and settlement procedures to safeguard the rights and interests of all parties involved.

Creditors’ Rights Protection and Debt Committee Services

Represent creditors in filing for bankruptcy, declaring claims, exercising voting rights, and supervising the proceedings to prevent debt evasion and avoidance.

Investor introduction and resource integration alignment

Attract strategic investors through multiple channels, design the investment structure, and facilitate resource integration and mergers and acquisitions.

Design of Mutual Benefit Debt Financing and Trust-Based Debt Repayment Schemes

Design innovative debt repayment methods such as co-benefit bonds and trust schemes to enhance the repayment rate and control risks.

Legal Risk Assessment and Response for Enterprises and Their Actual Controllers

Identify the administrative, criminal, and other legal risks faced by enterprises and their actual controllers, and develop corresponding response strategies.

Employee Placement and Management of Mass Incidents

Assist in developing employee placement plans, handle labor-management disputes, and prevent and resolve risks to social stability.

Government Investment Promotion Support and Risk Mitigation Consultant

Provide the government with supporting plans for corporate restructuring, policy recommendations, and investment matchmaking services, and assist in removing obstacles to restructuring.

Representative performance

Zhongshun Automobile Holdings Co., Ltd. underwent bankruptcy reorganization (designated by the Supreme People's Court as one of the “Top Ten Typical Bankruptcy Cases Nationwide”).

China Nonferrous (Shenyang) Metallurgical Machinery Co., Ltd. is undergoing restructuring (as part of the State-owned Assets Supervision and Administration Commission of the State Council’s “Addressing Stagnation and Resolving Difficulties” initiative).

The reorganization case of Jinyulong Mining Co., Ltd. in Qingyuan Manchu Autonomous County (Liaoning’s first-ever reorganization of a mining enterprise).

Shenyang Xingchen Real Estate Development Co., Ltd. Restructuring Case (a typical case identified by Liaoning Province for revitalizing existing assets and attracting new ones).

Shenyang Mingjing Real Estate Co., Ltd. has entered bankruptcy liquidation.

Shenyang Huachu Real Estate Co., Ltd. has entered bankruptcy liquidation.

Shenyang Sanhua Deka Wheel Hub Co., Ltd. has entered bankruptcy liquidation.

Shenyang Jinmeida Ceramics Co., Ltd. has entered bankruptcy liquidation.

Fushun Cement Co., Ltd. has entered bankruptcy reorganization.