On September 16, 2015, Sichuan Jitailong Food Group Co., Ltd. (“Jitailong Group”) and China Minsheng Banking Corp., Ltd. (“CMBC”) Chengdu Branch, signed the Working Capital Loan Contract whereby CMBC would grant a loan of RMB 45 million. In order to guarantee the performance of the said Working Capital Loan Contract, Sichuan Chuangxing Real Estate Development Group Co., Ltd. (“Chuangxing”) and CMBC signed the Guarantee Contract and the Mortgage Contract; Liang Shizeng, Lin Guofen and CMBC signed the Guarantee Contract; Liang Yan and CMBC signed the Guarantee Contract; Liang Shizeng, Lin Guofen and CMBC signed the Mortgage Contract. Upon the expiration of the loan, both the borrower and the guarantor failed to repay the loan as scheduled.
As the attorney-at-law of China Minsheng Banking Corp., Ltd. (“CMBC”) Chengdu Branch, ZHH fully coordinated and communicated with the executive judges during its representation. As part of the property was to be used for compensation for government relocation, ZHH communicated and coordinated the property disposal plan with other seizors and the government, and recovered the loan back for the client.
This project was led by Partners CHAI Jia and ZHAO Wenqi.