债权人和债务人总体上都比较缺乏申请破产的动机。 "推动司法判决执行与破产制度有机衔接"被写入"十五五"规划建议，这一机制被视为依法有效盘活查封 冻结财产的重要途径，将有助于突破执行僵局，优化营商环境。 "执破衔接"是对近年来我国"执转破"司法机制的延续。自"执转破"制度确立以来，该制度对市场主体出 清、优化营商环境起到了一定积极作用，但仍然面临着启动难、对市场主体的挽救功能不足等问题，如 何解决这些难点堵点，将成为下一个五年的挑战。 执行转破产的司法机制的延续 《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》在加快完善要素市场化配置体制机 制方面，提出"推动司法判决执行与破产制度有机衔接，依法有效盘活被查封冻结财产"。 在近日出版发行的《党的二十届四中全会〈建议〉学习辅导百问》（下称《辅导百问》）一书中，对如 何理解上述规划作出了详细回答。 文中指出，近年来，我国法院执行案件总体增长较快。执行程序中，被采取查封、扣押、冻结措施的企 业法人也相应增加，大量被查封冻结财产难以快速有效处置，不仅债权人合法权益悬而未决，更导致宝 贵的经济资源"封冻"。 企业资产一旦被查封冻结，容易面临资金链断裂、生产要素 ...

Core Insights - The Fuzhou Cangshan District People's Court has released a white paper on bankruptcy adjudication from 2022 to 2024, highlighting significant achievements in handling bankruptcy cases [1] Group 1: Bankruptcy Case Statistics - From 2022 to 2024, the court received 166 new bankruptcy cases, resolved 168 cases, and had 3 cases pending [1] - The court successfully rescued 15 enterprises and resolved debts exceeding 6.3 billion [1] - Nearly 2,000 execution cases were cleared, and 238 pending execution cases were addressed [1] Group 2: Innovative Mechanisms and Processes - The court established the province's first "executive bankruptcy integration" collegial panel and introduced a novel "executive protection to bankruptcy" work model [1] - A standardized workflow was created, including steps from scope determination to bankruptcy adjudication [1] - The court implemented a "three connections and three simplifications" mechanism, along with tailored restructuring and reconciliation strategies for each case [1] Group 3: Collaborative Governance and Digitalization - A governance model was developed that integrates government coordination and multi-department collaboration [1] - The court has promoted the issuance of relevant implementation opinions and utilized digital tools to enhance information collaboration [1] Group 4: Case References and Guidelines - The court provided typical case references covering various measures such as the connection between execution and bankruptcy [1] - Work guidelines were released for simplified bankruptcy case trials and pre-bankruptcy case handling [1]

Group 1 - The core viewpoint emphasizes the importance of executing court decisions to protect the legal rights of winning parties, with a focus on a "100-day offensive" initiative to enhance execution quality and efficiency [1] - The initiative targets key issues, cases, and regions, aiming to convert "paper rights" into "real money" through precise efforts in execution [1] - The initiative includes collaboration between courts and government, addressing long-standing unresolved cases related to labor disputes, maintenance fees, and personal injury compensation through cross-execution strategies [1] Group 2 - The standardization of execution is identified as crucial for the high-quality development of execution work, with the provincial court organizing a guide based on research to improve execution practices [2] - A new guideline has been established to publicly disclose key progress information in execution cases, promoting transparency and accountability in the execution process [2] - The initiative aims to enhance the execution team's quality and efficiency by adhering to established norms and standards while addressing practical challenges in execution [2]

Core Viewpoint - The Liaoning High Court has launched a "100-day offensive" action to enhance execution work across the province, focusing on improving execution quality and efficiency, and addressing key issues in execution cases [1][2]. Group 1: Execution Work Enhancement - The action includes six main tasks: improving execution quality, drafting execution work guidelines, increasing information transparency, cross-execution, integration of execution and bankruptcy, and supporting weaker courts [1]. - The initiative aims to convert "paper rights" into "real money" by tackling key issues, cases, and regions effectively [1]. Group 2: Coordination and Collaboration - The Liaoning High Court will strengthen collaboration between the government and the courts, ensuring coordination in execution processes [1]. - The focus will be on resolving small-value cases related to labor disputes, maintenance fees, and personal injury compensation through cross-execution strategies [1]. Group 3: Standardization and Transparency - The Liaoning High Court has developed an operational guide for execution work based on research and existing legal frameworks, addressing practical challenges in execution [2]. - A new guideline has been issued to mandate courts to publicly disclose key progress information in execution cases, promoting transparency and accountability [2].

Group 1 - The meeting emphasized the need for Guangdong courts to fully implement the Central Committee's directives on enhancing trial work in the new era, focusing on the goals and tasks of execution work [1] - In the first half of the year, Guangdong courts handled 426,000 execution cases, an increase of 18% year-on-year, and disbursed 68.137 billion yuan, with a 32% improvement in disbursement efficiency [1] - The execution work is facing challenges such as a large volume of cases and the need to clear historical cases, requiring a collaborative approach and reliance on party leadership [1][2] Group 2 - The focus is on addressing issues like clearing historical cases, locating individuals and assets, and asset liquidation, while leveraging the current reform window to deepen reforms and innovate mechanisms [2] - There is a call to strengthen execution supervision and management, improve the clarity of execution powers and responsibilities, and ensure the implementation of regulations to prevent judicial interference [2]

Core Insights - The company, a traditional chemical enterprise, has successfully transitioned into high-value sectors such as new energy and new materials by investing 2.3 billion yuan in an electronic materials project [1] - The company faced severe financial distress and potential delisting three years ago due to complex debt and corporate structure issues [2][3] - The judicial system played a crucial role in facilitating the company's restructuring and debt resolution through innovative legal frameworks [4][5] Group 1: Company Transformation - The company initiated a strategic shift from traditional phosphate mining to high-value new materials, marking a significant transformation in its business model [1] - The restructuring process involved a tailored "execution + bankruptcy reconciliation" plan, which effectively addressed the company's debt crisis and improved its financial structure [3][4] Group 2: Judicial and Government Support - The collaboration between the judiciary and local government was pivotal in the restructuring process, establishing a permanent mechanism for coordinated efforts to resolve corporate crises [6][7] - The establishment of specialized working groups by the local government helped address various operational challenges faced by the company during its restructuring [7] Group 3: Market Engagement - The company initially struggled to attract investors due to its financial instability but successfully engaged multiple potential investors through a strategic "split recruitment" approach [8][9] - The innovative use of investment banks as intermediaries facilitated better market outreach and attracted strategic investors for the company's core business segments [10] Group 4: Future Outlook - The local court has been recognized for its contributions to high-quality development, indicating a commitment to fostering a supportive legal environment for business recovery and growth [11] - The company aims to leverage its restructuring experience to enhance local government initiatives for attracting investment and upgrading industries [11]

Core Viewpoint - The revival of the Weida Tower, a significant landmark in Foshan, marks a successful collaboration between judicial and market mechanisms to address the issue of unfinished construction projects [1][2]. Group 1: Project Background - Weida Tower, standing at 171 meters with 38 floors, was halted for over 7 years due to a financial crisis faced by its developer, Dapanheng Real Estate Development Co., Ltd [1]. - In November 2024, Donghui Company acquired the restructuring investment rights for 430 million yuan, leading to the resumption of construction by Foshan Housing Construction Group [1][3]. Group 2: Financial and Legal Aspects - The restructuring plan requires investors to provide approximately 26.4 million yuan in total costs, including 3.86 billion yuan in estimated property value [3]. - The court implemented a "partial cash + partial physical" repayment scheme to balance interests among stakeholders, ensuring the payment of over 6 million yuan in overdue wages to workers [3]. Group 3: Project Location and Market Context - Weida Tower is strategically located near the core business district of Qihua Road, with a total construction area of 75,800 square meters, including 44,200 square meters of office space and 10,500 square meters of commercial facilities [4][5]. - The surrounding residential projects have second-hand housing prices ranging from 13,000 to 21,000 yuan per square meter, indicating a robust real estate market in the area [5]. Group 4: Construction and Completion Timeline - The project is expected to be completed within 18 months from the resumption of construction, with physical delivery planned within 24 months, targeting completion by June 2027 [5]. - The revival of the project is seen as a means to improve urban aesthetics and enhance the overall image and attractiveness of Foshan [5]. Group 5: Funding and Investment Model - The successful resumption of Weida Tower is attributed to a new investment model combining private enterprise funding with state-owned construction guarantees, ensuring project quality and progress [6].

Core Viewpoint - The Weida Tower in Foshan, which has been stalled for over seven years, has officially resumed construction, marking a significant turnaround for the project that faced bankruptcy and legal challenges [1][2] Group 1: Project Background - The Weida Tower project was initiated in 2012 by Foshan Dapanheng Real Estate Development Co., Ltd., aiming to create a mixed-use high-rise building in a prime location [1] - The tower reached its structural completion at 171 meters in 2016 but was halted in 2017 due to the developer's financial issues, leaving 993 office spaces abandoned [1] Group 2: Legal and Financial Developments - As of June 2023, the developer was involved in 44 lawsuits, with claims totaling over 390 million yuan [1] - The local court implemented a "executive bankruptcy integration" reform to facilitate the restructuring process, ultimately allowing Donghui Enterprise Management Co. to acquire the restructuring investment rights for 430 million yuan [1] Group 3: Construction Resumption and Future Plans - The project officially resumed on June 5, 2023, with ongoing site cleanup and preparations for further construction [1] - The Weida Tower is planned to be a 38-story building with a total height of approximately 171 meters and a construction area of about 75,800 square meters, including 44,200 square meters of office space and 10,500 square meters of commercial facilities, with a completion target set for October 30, 2026 [2] Group 4: Court's Role and Achievements - The Zhencheng Court is one of the pilot courts for the "executive bankruptcy integration" initiative, having processed 136 bankruptcy cases and resolved 4.9 billion yuan in debts by May 2023 [2] - The court successfully facilitated the payment of over 6 million yuan in back wages to project workers during the restructuring process [2]

Core Viewpoint - In 2024, the People's Courts are effectively addressing complex execution cases and long-standing historical cases through designated and elevated execution methods, aiming to convert the "paper rights" of winning parties into "real money," with a notable decrease in the number of individuals on the dishonesty list for the first time in ten years [1] Group 1: Execution Progress - In 2024, over 260,000 cross-execution cases were handled nationwide, resulting in substantial progress or resolution of 130,000 cases, with an execution amount exceeding 130 billion yuan [2] - The Supreme Court has conducted on-site research and tailored 32 cross-execution "health checklists" for various high courts, ensuring effective resource allocation and addressing local protectionism [2][6] - The execution environment has significantly improved, with a number of cases being held accountable [3] Group 2: Execution Statistics - The execution work in 2024 is characterized by "two decreases and two increases": the number of first-time execution cases and individuals on the dishonesty list both decreased, while the execution rate and actual execution amount increased [4] - Over 8.8 million first-time execution cases were accepted, showing a decline of over 6%, while the number of individuals on the dishonesty list decreased by over 20% [4] Group 3: Civilized Execution Initiatives - The courts have been promoting a civilized execution approach, focusing on distinguishing between dishonesty and "inability," and implementing systems for credit repair and warnings [5] - In 2024, 2.457 million new individuals were added to the dishonesty list, a decrease of 23.4%, while 2.821 million individuals successfully returned to the market through credit repair, an increase of 35.4% [5] Group 4: Collaborative Measures - The Supreme Court has expanded its collaborative efforts with 13 central ministries to enhance execution capabilities, achieving over 10 breakthroughs in locating individuals and assets [6] - A total of over 100 joint punitive measures against dishonest individuals have been implemented, with significant progress in the construction of a credit supervision and warning mechanism [6]