DeHeng Advised Sino Life Asset on Establishing

the First Debt-Swap Insurance Claims Scheme

2021-07-29

Sino Life Asset – Xifeng Urban Development and Investment Infrastructure Debt Investment Scheme was registered with the Insurance Asset Management Association of China, with a registered amount of RMB 740 million. It was issued to swap with the local government's implicit debts arising from building roads connecting Madangtian Village of Yongjing Town and Linfeng Village, Xishan Town in Xifeng County. This is the first debt-swap insurance claimsdebt investment scheme.

As the legal counsel for the scheme, the DeHeng team was led by partner Huang Huazhen, with primary support from lawyer Wang Guibin. They actively assisted the client in verifying the existing hidden debts, and made detailed legal arguments on the legality and compliance of the formation procedure of the debt to be swapped, the effectiveness of the swap plan and the fact that the implicit government debt involved was an existing government debt that can be legally swapped. Their high-quality and efficient legal services provided a solid guarantee for the successful registration of this scheme. DeHeng will continue to give full play to its legal expertise in insurance and insurance asset management and contribute to the development of the industry.