On March 17,2021,the Higher People's Court of Zhejiang Province released the 2020 bankruptcy trial work report of Zhejiang courts and the top ten typical cases.The case of merger,bankruptcy,and reorganization of ten enterprises of the Youkang family,jointly managed by Beijing Gaopeng Law Firm,Beijing Gaopeng(Hangzhou)Law Firm,Zhejiang Zhejing Law Firm,and Dahua Certified Public Accountants(special general partnership)Zhejiang Wanbang Branch,was selected as one of the top ten typical bankruptcy cases in the Zhejiang court in 2020.

With Youkang Food Group Co.,Ltd.as the center,Youkang series enterprises mainly produce frozen products,quick-frozen products,beverage manufacturing,etc.,and are well-known domestic food producers.The Zhejiang High Court believes that this case is a typical case of using the"overall merger+partial reorganization"model to achieve"bankruptcy without stopping production"and effectively integrate resources.(1)Preserve the core productivity and operational value of the enterprise through overall consolidation and partial reorganization.(2)"Bankruptcy does not stop production.".Considering the continuation of the Youkang brand,the production capacity of the factory at that time,and the stability of the team of employees,suppliers,and distributors,the company implemented closed operations after accepting the bankruptcy case,and fully implemented the closed operation supervision plan.At the same time,through the linkage between the government and the court,the court,the administrator,and the debtor's staff have held multiple communication and coordination meetings at important nodes to stabilize the employees'emotions and implement safe production.By the end of 2018,the annual sales of products of Youkang Food Co.,Ltd.had reached 400 million yuan,with a significant increase in employee salaries.

The selection of this case as one of the top ten typical bankruptcy trials by Zhejiang courts in 2020 is a high affirmation of the bankruptcy work of Gaopeng Law Firm.The Gaopeng bankruptcy team will,as always,strive for excellence and promote the development of bankruptcy business.

(This article is translated by software translator for reference only.)