Dacheng Lawyers' Team Handles Bankruptcy Reorganization Case Selected as Typical Case for Northeast Revitalization by the Supreme People's Court

On March 31, 2026, the Supreme People’s Court issued the second batch of typical cases supporting the all‑round revitalization of Northeast China in the new era. The bankruptcy reorganization case of a thermal power company, handled by the Bankruptcy Court of Changchun Intermediate People’s Court of Jilin Province and managed by the team led by Li Jianwei, Senior Partner of Dacheng Changchun Office, was successfully selected. It stands as a benchmark example of judicial support for the revitalization of energy state‑owned enterprises, livelihood protection and green transition.

 

The thermal power company is a key cogeneration enterprise in the province, accounting for 11.88% of the province’s thermal power installed capacity. It shoulders the critical responsibility of power and heat supply across the region, supporting more than 3,000 jobs. Affected by multiple factors, the company suffered sustained losses and insolvency, while facing historical governance challenges including shareholdings held by over 18,000 employees. Balancing livelihood protection with operational turnaround became an urgent priority. The team led by Li Jianwei was engaged early to advise the company and propose a “pre‑reorganization + reorganization” judicial restructuring plan. In January 2024, Changchun Intermediate People’s Court accepted the pre‑reorganization application. Upon joint recommendation by major creditors and the debtor, Dacheng Changchun Office was appointed as provisional administrator, with Li Jianwei leading a dedicated team to manage the entire matter.

 

Serving as provisional administrator and formal administrator, Mr. Li’s team addressed the complex case with professionalism and perseverance: conducting on‑site operational reviews, engaging minority shareholders to clarify legal rights, liaising efficiently with creditors, restructuring investors and competent authorities, and devising reorganization strategies. Under the court’s guidance, the team adopted innovative and targeted approaches, co‑developed the reorganization plan with the company, resolved all restructuring challenges one by one, and secured overwhelming approval for the plan. On October 14, 2024, Changchun Intermediate People’s Court approved the reorganization plan. The administrator assisted and supervised the company in completing plan implementation in just 98 days, enabling stable energy supply ahead of the winter heating season.

 

The typical significance of this case lies in:

 

First, upholding the bottom line of livelihood protection by securing power and heat supply and employment, safeguarding public welfare through the rule of law; Second, advancing corporate green transition through unit upgrading and coal structure optimization, aligning with the “dual carbon” strategy and new energy development goals; Third, properly resolving employee shareholding issues through a “cash payment + trust management” model to achieve orderly exit for employee shareholders, optimizing corporate governance and supporting the national strategy for Northeast revitalization.

 

The team led by Li Jianwei has long specialized in bankruptcy reorganization and corporate M&A. With exceptional professional capabilities, rigorous work ethic and proactive problem‑solving approach, it has earned wide acclaim from enterprises and courts. The selection of this case as a national typical case further validates Dacheng’s expertise. Moving forward, Dacheng will continue to provide high‑quality and efficient legal services to support corporate restructuring and debt resolution, injecting strong rule‑of‑law momentum into the all‑round revitalization of Northeast China.