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Zhong Lun Advises on Reorganization of Guangdong Sunrise Holdings Co., Ltd. under the Enterprise Bankruptcy Law
Zhong Lun Advises on Reorganization of Guangdong Sunrise Holdings Co., Ltd. under the Enterprise Bankruptcy Law
On May 6, 2010, Shenzhen Intermediate People’s Court ruled to approve the reorganization of Guangdong Sunrise Holdings Co., Ltd., an insolvent debtor which was filed by its creditor a petition for reorganization under the Enterprise Bankruptcy Law.
A team led by Partner Xu Shengfeng from the Zhong Lun’s Shenzhen office and including associates Yang Li, Pang Xiaochun and Zhuang Zeman was entrusted to act as counsel of Sunrise for the reorganization.
Guangdong Sunrise Holdings Co., Ltd. (Its former name was Shenzhen Lionda Holding Co., Ltd.) was a listed company on Shenzhen Stock Exchange with A shares and B shares. The company has been suffering losses in recent years and was insolvent in repayment of debts. In April 2009, one of its creditors applied for reorganization of the company under the Enterprise Bankruptcy Law.
