DeHeng Assisted a Chinese State-owned Policy Bank in Completing a Major Litigation Project Involving High-value Collateral in North America

2025-01-27

Recently, DeHeng lawyers represented a provincial branch of a state-owned policy bank (hereinafter referred to as the “DeHeng Client”) and completed the receivership process for high-value oil and gas field collateral assets in a region with abundant oil and gas resources in North America. This marked the final resolution of a complex overseas recovery case that had lasted nearly three years, with maximum protection for the core interests of the DeHeng Client’s claims.

Several years ago, a large-scale import and export trading company used its multi-layer structured ownership of oil and gas fields in North America as collateral to borrow tens of millions of dollars from the DeHeng Client. After the default, facing the complex legal environment both domestically and internationally, the DeHeng Client urgently needed to realize its recovery claims based in light of North American legal procedures. Cases involving Chinese enterprises and financial institutions going through receivership procedures overseas are relatively rare, making this an important attempt for the DeHeng Client, which required full assistance from a professional legal service provider. 

Led by its Beijing and Qingdao Offices, with lawyers Chen Wei, Chen Xiao, and She Wei as the lead lawyers, DeHeng formed a highly efficient joint team with top local North American lawyers. Acting as the agent for the state-owned policy bank in this cross-border dispute, they initiated the receivership process in the local North American court after meticulous preparation.