Recently,Zhejiang Zhiye Real Estate Group Co.,Ltd.(“Zhiye Real Estate”for short)held the Property Sales Initiation&Signing Ceremony of Strategic Cooperation in the Pension Industry at the New Century Grand Hotel Shaoxing,declaring the official availability of 331 units of houses affiliated to it,including Zhiye Dongze Villas,Zhiye Dongze Boyuan,Zhiye Fengze Jingyuan,Tushan Taiyang Apartment and Shuxiang Taiyang Apartment.This signifies that the first troubled enterprise support project of Deqing Qiyu Investment Management Partnership(Limited Partnership)(“Deqing Qiyu”for short)served by Gaopeng&Partners(Hangzhou)Law Office has scored great and periodical success.

As a real estate company equipped with the comprehensive strength in developing large-scale real estates,Zhiye Real Estate was once ranked among Top 500 Companies in China.However,subject to the impact of guarantee chain,it has been faced with broken capital chain,sequestered effective assets and hindered operations on all fronts in recent years,and the governments of Shaoxing Municipality and Yuecheng District include it in the program of key enterprise to be supported.Our lawyers have lent a helping hand to assist the cooperation between Deqing Qiyu and Zhejiang Financial Assets Exchange Co.,Ltd.(“ZJFAE”for short).The integration between the reorganization of creditor’s rights and the innovative products of ZJFAE has revitalized the effective assets of Zhiye Real Estate and its affiliates,and helped the troubled enterprise to turn over a new leaf.

Our senior partner Lawyer Qian Yuxin,Lawyer Huang Liwei and Lawyer Chen Jianyu have provided full legal services for the non-litigation project.

(This article is translated by software translator for reference only.)