Tahe Good News | A case handled by Tahe Law Firm has been selected as a typical case by the Nanjing Courts on “Promoting the Organic Integration of Judicial Judgment Enforcement and the Bankruptcy System.”

Recently, the Nanjing Intermediate People’s Court released a typical case on “promoting the organic integration of judicial enforcement and the bankruptcy system.” The administrator is Tahe Law Firm, with Partner Attorney Xu Tao serving as the person in charge. “The case of an ecological tourism development company undergoing executive-to-bankruptcy reorganization” has been successfully selected.

Case Summary

The amusement park operated by a certain eco‑tourism development company is a government–social capital partnership (PPP) cultural‑tourism project with a total investment of RMB 143 million. Located in the core area of the scenic zone, it serves both as a supporting facility for the site and as a destination for tourism‑related consumption. Beginning in 2023, due to a breakdown in its cash flow, the company was successively sued by more than 20 creditors, each of whom filed applications for compulsory enforcement, plunging its operations into a deadlock. Although the company is already insolvent, it still holds a seven‑year franchise for the project and occupies a prime location within the scenic area, endowing it with significant cultural‑tourism development potential and making it eligible for reorganization. Following the Xuanwu District People’s Court’s acceptance of the bankruptcy case, our firm, acting as administrator, leveraged a dual‑linkage mechanism—“litigation‑to‑bankruptcy” and “enforcement‑to‑bankruptcy”—and employed a pre‑recruitment approach to thoroughly assess the enterprise’s reorganization value. As a result, we successfully attracted a restructuring investor and drafted a preliminary reorganization plan. The Xuanwu District People’s Court subsequently ruled to transfer the case from bankruptcy liquidation proceedings to reorganization proceedings.

In October 2025, the draft reorganization plan was approved by a vote of the creditors’ committees, and the court issued an order approving it and terminating the reorganization proceedings. This case successfully resolved over RMB 220 million in debt, revitalized more than 143 mu of scenic‑area land and approximately 7,570 square meters of building space, and appropriately concluded over 30 related litigation and enforcement cases, achieving a win‑win outcome for creditors, debtors, and investors, while enabling the scenic area’s cultural‑tourism project to rise anew.

Case Outcomes

The cultural and tourism industry has been a key engine for expanding domestic demand, boosting consumption, and strengthening the economy in recent years. In this case, restructuring was employed to preserve and revitalize high‑quality cultural and tourism assets, preventing the erosion and loss of valuable scenic‑area resources and franchise rights due to procedural disposals. Through coordinated efforts between government and the courts, the project achieved seamless integration of overall scenic‑area planning, continued franchise‑right authorization, and the implementation of supporting policies, thereby aligning the initiative with the broader regional development of culture and tourism. By bringing in market‑oriented investors to resume operations, “dormant” cultural and tourism assets were reinvigorated, injecting fresh momentum into local cultural‑tourism consumption and industrial upgrading, while also providing a replicable model for leveraging judicial mechanisms to drive high‑quality growth in the sector.

Taihe Law Firm is an influential, full-service law firm in Jiangsu Province. It has long been deeply engaged in corporate bankruptcy reorganization and liquidation matters, maintaining a specialized bankruptcy and reorganization practice team whose members are well-versed in the entire spectrum of procedures, including the seamless transition between enforcement and bankruptcy, pre-reorganization, reorganization, and liquidation. The firm has handled numerous bankruptcy cases across diverse sectors and industries, striving to provide expert legal services that help distressed enterprises overcome their challenges, achieve recovery, and foster a more favorable, rule-of-law‑based business environment.

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