From 2016 to 2017, ZHH's lawyers were appointed by Chongqing Xingtuo Real Estate Co., Ltd. to conduct due diligence on the Great Southwest Building Materials Market. The Great Southwest Building Materials Market Project company is Chengdu Minjiang Haifu Investment Co., Ltd. (“Haifu”) established by Minjiang Afforestation Bureau, Aba Prefecture (“Minjiang Bureau”). PowerChina Real Estate Group Ltd. (“PowerChina Real Estate”) entered Haifu by means of capital increase, and shared the compensation for relocation and the land-transferring fees for this land with Minjiang Bureau.
With reference to the background of the Great Southwest Building Materials Market project, ZHH's lawyers conducted a comprehensive investigation into the history, shareholders, assets, credits and debts, and major contracts of Haifu, etc. and focused on the review of legal issues in the trading model used by PowerChina Real Estate in this project, issues in the compensation for relocation, the Northern Chengdu reconstruction policy and the valued price, etc. so as to remind the risks and provide legal advice to Chongqing Xingtuo Real Estate Co., Ltd.
This project was led by Partner Wang Fei and handled by Attorneys Chai Jia and Ran Chunhong.