Hubei Thinksunny Wuhan Law Firm engaged in the bankruptcy and reorganization of Tianyi Science and Technology Co., Ltd (600703) and Tianfa Oil Co., Ltd (000,670).
Due to the three consecutive years of losses, the two listed companies were suspended from the trade in the stock market by Shanghai Stock Exchange and Shenzhen Stock Exchange. To save the business and maximize the protection of the interests of creditors, the two companies entered the bankruptcy and reorganization proceedings separately. As the members of the liquidation group, our lawyers were responsible for the legal matters related to the insolvency administrator to provide the legal services, such as, legal due diligence investigation, credit reporting and auditing, re-construction program, the creditors' meeting, investor conferences, disposal of assets, restructuring, strategic investment, etc. We successfully resolved the debt of nearly 2 billion RMB, saved the listed companies and also protect the legal rights of the creditors and investors reasonably.
After the reorganization of assets, Tianyi Science and Technology Co., Ltd was renamed as Sanan Optoelectronics Co., Ltd and achieved considerable economic and social benefits. Tianfa oil Co., Ltd was renamed as S Shunyuan.