Rich experience

Since 2007, Xinshi has undertaken or taken the lead in undertaking a large number of bankruptcy liquidation, bankruptcy reorganization and compulsory liquidation cases in Fujian Province, accumulating rich experience in legal affairs of insolvency cases. Most of the lawyers working for the Xinshi Bankruptcy Team have inter-disciplinary professional backgrounds, as well as multi-disciplinary backgrounds in economics, accounting, taxation, asset evaluation, business management, computer science, multinational languages, etc.

From 2007 to 2015, most of the bankruptcy and reorganization cases in Fujian were handled by Xinshi, and from 2016 to date, Xinshi has handled several typical and symbolic insolvency cases in Fujian.

Complete Qualification

Xinshi has been recognized as bankruptcy administrator in cities across Fujian. 

 ◇In 2007, Xinshi and Mr. Wang, Xinshi’s director were granted the qualification of bankruptcy administrators by Fujian High People's Court, which is the Court’s first batch of entities and individuals bankruptcy administrators.

 ◇In January 2015, Xinshi and Mr. Wang Ping, Xinshi’s director, were granted the qualification of bankruptcy administrators by Xiamen Intermediate People's Court, which is the Court’s first batch of entities and individuals bankruptcy administrators.

 ◇In December 2015, Xinshi Quanzhou and Mr.Liao Yi, Xinshi Quanzhou’s director, were granted the qualification of bankruptcy administrators by the Quanzhou Intermediate People's Court, which is the Court’s first batch of entities and individuals bankruptcy administrators.

 ◇In October 2016, Xinshi Longyan obtained the qualification of the first batch of bankruptcy administrators from the Longyan Intermediate People's Court.

 ◇In December 2016, Xinshi Fuzhou obtained the qualification of the first batch of bankruptcy administrators from the Fuzhou Intermediate People's Court.

 ◇In March 2019, Xinshi Zhangzhou obtained the qualification of the first batch of bankruptcy administrators from Zhangzhou Intermediate People's Court.

 ◇In September 2019, Xinshi Ningde obtained the qualification of the first batch of bankruptcy administrators from Ningde Intermediate People's Court. 

One of the Industry leaders

 ◇In 2016, Xinshi, as the main sponsor, established Xiamen Bankruptcy Administrators Association, which is the first self-discipline organization for bankruptcy administrators in Fujian Province and the fourth in the country. Mr. Wang Ping, the director of Xinshi, was elected as the first president.

 ◇At present, the daily work of the Association is mainly undertaken by Xinshi, and Xinshi has independently set up various systems of the Association such as management, self-discipline and appraisal, among which the self-discipline and appraisal systems are the first and leading ones in the country.

 ◇In 2017, the Quanzhou Bankruptcy Administrators' Association was established, and Mr. Liao Yi, the director of Xinshi Quanzhou, was elected as the vice president.

 ◇In 2017, Ping Wang , Jiahuan Liu, Yufeng Chen and Jiachang Ye, lawyers of the Xinshi Bankruptcy Team, became members of the International Insolvency Association and were engaged as researchers of the Bankruptcy Law and Enterprise Restructuring Research Center of the China University of Political Science and Law.

 ◇In 2018, the Fujian Bar Association set up a special committee on bankruptcy and restructuring for the first time, and Mr. Wang Ping of Xinshi was elected as its director.

 ◇From 2016 to 2019, Xinshi served as the host entity and successfully held the first "Xiamen Bankruptcy Law Seminar" and the second and third "Southeast Bankruptcy Law Forums" (the former Xiamen Bankruptcy Law Seminar).

At the end of each year, experts, scholars and judges of the court system from all over the country gathered in Xiamen to discuss bankruptcy practice and theory. The Southeast Bankruptcy Law Forum has become a famous national conference for bankruptcy law research.

 ◇In 2018 and 2019, Xinshi was consecutively selected as Level I law firm for companies/business in Fujian Province by the Chambers of Commerce and Partners, the internationally renowned and authoritative legal rating agencies.

The reasons for selecting the Chambers of Commerce are as follows: " Active provincial law firm with strong capabilities in corporate bonds as well as restructuring and insolvency cases. Has seen an uptick of insolvency mandates relating to the traditional manufacturing businesses in Fujian. Additional expertise in real estate and property law. Noted for its formal association with Hogan Lovells in the Shanghai Free Trade Zone. "

Court commendations

 ◇In 2009, Xinshi handled theFujian Province's first bankruptcy and reorganization case,which was rated as an "excellent case of practicing the concept of judicial activism by courts throughout the country" by the Supreme People's Court. It is  also became a case of the History Hall of Xiamen Intermediate People’s court collection.

 ◇In 2016, working with other 14 bankruptcy law firms across the country as expert consultants, Xinshi assisted Quanzhou Intermediate People’s Court with the trial of two batches of 34 bankrupt enterprises.

 ◇In 2017, Quanzhou Intermediate People’s Court selected the top ten typical insolvency cases for the first time, and two cases handled by Xinshi were selected.

 ◇In 2018, a case handled by Xinshi was selected as a typical case of the Xiamen’s Court in 2018, which is the maximum object cases involving enforcement, pre-reconciliation and bankruptcy reconciliation in Fujian courts system.

Combination of production and research

 ◇In 2016, Xinshi drafted and compiled the Guidelines for Xiamen Bankruptcy Administration (the "Guidelines"), which was pioneered in the country.

 ◇In recent years, Xinshi lawyers have been invited on many occasions to give lectures to courts and government functional departments of all prefectures and cities across Fujian. Xinshi lawyers published more than ten professional papers, many of which were selected as excellent papers or selected in corresponding forum, seminar collections.

 ◇In 2017, the country's first “creditors' meeting management system” was officially launched , which was specially designed for the framework of China's bankruptcy law creditors’ meeting,. The system was originally developed by Xinshi, which is a information management system with independent intellectual property rights, and has effectively promoted the efficiency and the management level of multitudinous scene creditors’ meeting.

Scope of Legal Services

Nominated by the courts, serving as the bankruptcy administrator, Xinshi is also entrusted by enterprises with financial difficulties to help them with restructuring, reorganization, reconciliation and bankruptcy liquidation, providing constructive opinions and plans for them to extricate themselves from financial crisis. Meanwhile, Xinshi also undertakes a large number of cases of self-liquidation and compulsory liquidation.

 ◇Nominated as bankruptcy administrator by the courts

 ◇Appointed by the Bankruptcy Administrator, acting as counsel for the Bankruptcy Administrator;

 ◇Engaged by liquidation enterprises, serving as a member of the liquidation team

 ◇Engaged by liquidation teams, acting as its legal counsel

 ◇Engaged by the Creditors’ Committee, acting as its legal counsel

 ◇Represente enterprises involved in financial crisis or their investors, planning for restructuring, reorganisation, settlement and bankruptcy liquidation.

 ◇Represent investors of insolvency enterprises, participating in the Liquidation Proceedings and Bankruptcy Proceedings

 ◇Represent the creditors of enterprises in financial crisis, plotting and launching bankruptcy reorganization and bankruptcy liquidation for creditors

 ◇Represent the creditors, participating in Liquidation and Bankruptcy Proceedings

 ◇Represent the creditors, managing and disposing Non-performing Assets

 ◇Represent the reorganization,strategic investor, acting as their legal counsel and participating in restructuring or restructuring procedures

 ◇Other Legal Affairs Related to restructuring, self-liquidation, compulsory liquidation,reorganization, bankruptcy reconciliation and bankruptcy liquidation