DeHeng Assisted a Domestic Client in Recovering Millions of Yuan in Claims from the German Debtor in a Five-Year Insolvency & Restructuring Case

2023-09-06

Recently, after five years of hard work from 2019 to 2023, DeHeng’s lawyers finally assisted the Chinese trade exporter they represented in recovering and obtaining the trade payment owed by a German buyer after obtaining the bankruptcy judgment of German court. DeHeng’s lawyers provided professional, comprehensive and high-quality legal services in all stages of the bankruptcy case, including initiating the bankruptcy and reorganization proceedings in Germany and representing the Chinese trade exporter in recovering and ultimately obtaining the owed goods payment, and achieved the desired outcome. 

Through proactive and targeted implementation of necessary reorganization measures, especially insolvency fund financing and liquidity planning, DeHeng and the collaborative German law firm made it possible for the German debtor to maintain the necessary business operations, so that its liquidity could be constantly available, and its solvency continuously restored and strengthened, thus laying a solid foundation for the recovery of the payment for the goods involved in the case. 

In mid-2023, after reviewing all the claims declared by the creditors, the insolvency administrator submitted a report on the finalization of the insolvency proceedings to the bankruptcy court. The court then determined to carry out the final distribution of the debtor’s property, and distributed millions of yuan in claims to the Chinese exporter in this case, which recovered huge losses for the Chinese enterprises and safeguarded its lawful rights and interests.

As the legal counsel of this case, the DeHeng team was led by partner Lin Ye of Guangzhou Office, with primary support from lawyers Lin Bi, Chen Silu, Zhuang Ruimin, Yuan Zhen, Tang Qiulin, and paralegals Fan Danfeng and Liu Jiachen. They continued to represent the client for five years to follow up the bankruptcy and reorganization procedures as well as the recovery of overseas money, fully demonstrating their strong ability of foreign-related legal service, solid and comprehensive legal expertise, the ability to quickly solve complex problems, and their professionalism and dedication, and were highly recognized and praised by the client.