Establish connection channels to activate dormant assets

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This article is reprinted from: Heilongjiang Daily

To optimize the business environment and invigorate market vitality, the Harbin Intermediate People’s Court of Hegang City has delivered a “judicial hard-core” performance. To address the long liquidation-and-disposal cycle and slow revitalization of bankrupt assets—an “old problem” that has proven difficult to crack—Hegang Intermediate Court, together with the municipal economic cooperation and exchange center, established a coordinated linkage mechanism. By appointing dedicated liaisons, accurately compiling a “Bankrupt Assets Promotion List,” and relying on online platforms for publication, they opened up a channel for matching assets with capital.

This mechanism has reactivated “sleeping assets.” In a bankruptcy case involving an information technology company, thanks to precise promotion and efficient matching, after the assets were made public they quickly attracted more than 10 companies to negotiate. Within 28 days, they reached an initial agreement with a total value of more than 33 million yuan, setting a new record for the fastest disposal of bankruptcy property in Hegang. From “often taking a year” to “less than a month,” Hegang Intermediate Court has broken through information barriers through judicial innovation, providing a vivid example for optimizing a rule-of-law business environment and serving high-quality development.

(Liu Yu)

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