A man surnamed Xing was found disposing of assets transferred to Hong Kong while refusing to repay debt that he owed to a domestic financial institution. In an effort to best protect creditors’ interests, attorneys from Dacheng Guangzhou office and Hong Kong office, together with attorneys from Patrick Mak & Tse Solicitors and barristers, successfully assisted the domestic financial institution in freezing Xing’s RMB300mln asset in Hong Kong and created favorable conditions for the institution to recover credit and reduce losses. It is understood that the cooperation between mainland and Hong Kong attorneys is one of the few successful cases in which domestic creditors are supported by overseas courts in their effort to claim back credit. It has not only accumulated experience for handling similar cases in the future, but also shown the importance of Dacheng global legal service network.
The project was undertaken collectively by Dacheng attorneys in Guangzhou and Hong Kong-based Guo Jinkai, Wang Hongsheng, Ling Yongqin and Liang Xiuhong.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
