DEALS
Zhong Lun Assists R&F Properties Successfully Settling Urban Reconstruction Dispute with Local Government in Qingdao
Zhong Lun Assists R&F Properties Successfully Settling Urban Reconstruction Dispute with Local Government in Qingdao
Zhong Lun Law Firm has recently represented Hong Kong listed Guangzhou R&F Properties Co., Ltd. (“R&F Properties", stock code: 2777) in a dispute involving reconstruction of old villages on a plot of urban land and successfully helped recover RMB114 million (including RMB90 million in investment principal by R&F Properties).
The dispute was heard by Shandong Provincial High People’s Court. In the absence of legal provisions and precedents, Zhong Lun has come up with innovative arguments regarding legal qualifications of the street office and seizure of financial accounts of government agencies. The arguments were upheld by the court. Apart from active litigation, Zhong Lun made full use of its expertise in negotiations and helped both parties reach a settlement and ended the dispute within two months in a highly efficient manner.
More importantly, the dispute involved interpretation and application of a number of national or local policies in real estate. The real estate and construction department of the law firm has provided strong professional supports for the dispute resolution department in connection with the real estate matters in the dispute, thus rendering seamless legal services for R&F Properties.
A professional legal service team, which comprises partner Zhang Decai, associates Wan Qiuqin and Xu Hongbo and assistant Li Xinqian from the dispute resolution department, and partners Zhu Maoyuan, Li Guobin and Mu Song from the real estate and construction department, advised R & F Properties on the dispute.
