中新网长沙11月24日电 (黄俭)助力企业纾困 优化营商环境——长沙庭外重组业务研讨会23日在长沙举 行，旨在进一步探索庭外重组的理论和实务，助力困境企业的拯救和再生，推动经济高质量发展。 庭外重组指在破产程序之外，由债务人、债权人、出资人和战略投资人等利害关系人不通过司法程序自 行进行协商谈判，从而达成化解企业困境的协议的民事法律行为。长沙市破产管理人协会会长粟宝珍表 示，庭外重组作为困境企业拯救的重要制度和方法，具有程序灵活、成本较低、市场主体接受度高、更 利于维持企业经营价值等独特优势。 "庭外重组与庭内庭审程序相互补充、有效衔接，是激发市场活力的重要制度创新。"长沙市中级人民法 院党组成员、副院长张帅表示。他分享了长沙中院近年来积极探索庭外重组与预重整领域的成功案例， 并提出四点方向：要坚持政治引领，把握正确的改革方向；要坚持实事求是，构建规范的操作程序；要 坚持府院协调，打造高效的协同生态；要坚持内外联动，打通程序转换通道，共同在庭外重组工作中推 出更多可操作、可复制的长沙方案。 长沙市司法局党组副书记、副局长肖文辉表示，司法局通过创新举措减轻企业负担、强化知识产权保 护，成功化解大量涉企矛盾纠纷， ...

Core Insights - The establishment of the Shenzhen Extrajudicial Restructuring Service Center marks the first government-initiated comprehensive service platform in China that integrates both corporate and personal bankruptcy services [1][6][18] - The center aims to enhance efficiency in handling debts by considering both corporate and personal debts together, as over 50% of personal bankruptcy applicants in Shenzhen have debts related to business operations [6][18] Policy Background - The center aligns with central government policies aimed at improving market exit mechanisms and establishing a personal bankruptcy system [17] - Shenzhen's initiative reflects its status as a pilot area for comprehensive reform, including the exploration of a personal bankruptcy system [18] Service Structure - The center features two sub-centers: one for corporate extrajudicial restructuring and another for personal debt restructuring, providing a one-stop service for both entities and individuals in financial distress [6][18] - The service model combines government support, departmental collaboration, and association participation, enhancing credibility and professionalism in the restructuring process [9][19] Professional Support - A directory of 40 professional service institutions has been established to support the restructuring process, ensuring a high level of expertise in managing complex debt situations [15] - The center has also created an investor directory with 56 interested investment institutions to facilitate financing for distressed market entities [15][19] Operational Timeline - The Shenzhen Extrajudicial Restructuring Service Center officially commenced operations on October 10, 2023, and began offering public policy consultation services on October 15, 2023 [20]

Core Viewpoint - The Shenzhen Out-of-Court Restructuring Service Center has been officially launched, marking the first government-initiated comprehensive platform in China for public services related to corporate and personal debt restructuring [1] Group 1: Service Model - The center combines public welfare and market-oriented service models, offering basic services such as policy consultation and debt resolution coordination for free [1] - For complex matters like professional restructuring plan design and investment matching, market-oriented institutions will be involved to reduce costs and improve efficiency [1] Group 2: Service Structure - The platform includes two sub-centers: one for corporate out-of-court restructuring and another for personal debt restructuring, aiming to provide "one-stop" services [1] - The initiative is designed to assist viable companies in overcoming difficulties quickly and to provide a debt clearance pathway for "honest but unfortunate" individuals [1] Group 3: Regulatory Framework - The launch event also introduced the "Shenzhen Enterprise Out-of-Court Restructuring Service Regulations" and "Shenzhen Personal Debt Restructuring Service Regulations," which clarify service processes and responsibilities [1] - The restructuring process emphasizes principles of equality, voluntariness, and market leadership [1] Group 4: Support System - A specialized support system has been established, with the first batch of 40 professional institutions with bankruptcy management experience included in the restructuring specialist directory [1] - Additionally, 56 investment institutions have been invited to join the investor directory to address resource and financing challenges in the restructuring process [1]

Core Viewpoint - The article highlights the importance of bankruptcy restructuring as a means for companies to recover from financial distress, emphasizing that bankruptcy can provide a second chance rather than being an end point for businesses [1][2]. Group 1: Bankruptcy Restructuring - The case of a Shanghai-based company, which faced severe financial difficulties and was on the verge of judicial auction, illustrates how bankruptcy restructuring can revitalize a business [1][2]. - The Shanghai Bankruptcy Court has seen a significant increase in cases, with 4,911 cases in 2023 and an expected 5,050 in 2024, indicating a high demand for bankruptcy services [1]. - The company underwent an out-of-court restructuring process, which allowed it to negotiate with creditors and stabilize its operations, ultimately leading to the approval of its restructuring plan by the court [3][4]. Group 2: Market-Oriented Solutions - The establishment of the North Bund Enterprise Out-of-Court Restructuring Center in Hongkou District represents a proactive approach to facilitate market-oriented restructuring solutions [3]. - The restructuring process involved the company negotiating with over two-thirds of its creditors to sign restructuring agreements, resulting in a debt restructuring of nearly 4 billion yuan [3]. - The flexibility and confidentiality of out-of-court restructuring allow companies to navigate financial crises without public scrutiny, which can be beneficial for maintaining business operations [2]. Group 3: Judicial Support and Pre-Reorganization - The Shanghai courts have implemented a "pre-reorganization" system to assist companies in distress before they enter formal bankruptcy proceedings, enhancing the chances of recovery [5][6]. - The case of Shanghai Jubao Real Estate Development Co., which faced a funding crisis, demonstrates how pre-reorganization can lead to successful asset recovery and debt repayment [6]. - The court's involvement in guiding the restructuring process has proven effective in ensuring that creditors are repaid and that companies can resume operations [6]. Group 4: Liquidation and Asset Management - Not all companies can be saved; some must undergo liquidation to ensure an orderly exit from the market, which can prevent further disputes and protect creditor interests [8][9]. - The case of Shanghai Shangshu Yonghui Fresh Food Co. illustrates the importance of asset management during liquidation, where the court facilitated the sale of assets to clear debts amounting to over 570 million yuan [9]. - The bankruptcy process serves not only to distribute assets but also to inject capital back into the economy, highlighting its role in resource reallocation [9].

Core Viewpoint - The company *ST Gao Hong is facing significant financial challenges, with projected net losses of approximately 1.56 billion yuan in 2023 and 2.29 billion yuan in 2024, raising concerns among investors about its operational management and restructuring progress [2]. Group 1: Financial Performance - The company reported net losses of about -15.6 billion yuan for 2023 and -22.9 billion yuan for 2024 [2]. - Investors expressed concerns that the company's recent performance has eroded its entire market value over two years [2]. Group 2: Restructuring Efforts - The company is actively working on an out-of-court restructuring, including recruiting investors and auditing processes, but progress has been slow due to complex factors [2]. - The chairman's pre-tax remuneration decreased from 700,400 yuan in 2023 to 595,400 yuan in 2024, indicating cost-cutting measures [2]. Group 3: Audit and Legal Issues - The company's 2024 financial statements received a "non-standard" audit opinion due to ongoing investigations and significant litigation, with a total of 21 lawsuits amounting to over 900 million yuan [3][4]. - The company is cooperating with regulatory investigations and is focused on resolving litigation matters [3].