Case of transferring Shanghai * Port Industrial Co., Ltd. from bankruptcy liquidation to bankruptcy restructuring

Upon creditors’ application, the Shanghai Third Intermediate People’s Court accepted the bankruptcy liquidation case of Shanghai Port Industrial Co., Ltd., a wharf operator on the Yangtze River estuary. The administrator found severe environmental pollution risks caused by obsolete facilities and lack of sewage and dust control. To preserve the wharf’s operational value and license, the court converted the liquidation to restructuring. Under court guidance, the administrator coordinated with environmental authorities to rectify pollution, upgrade facilities, and build sewage settling tanks and dust-control equipment. Environmental rectification expenses were recognized as common benefit debts. After creditors approved the plan, new investors committed over CNY 87 million to ensure green operation. The court approved the plan and terminated restructuring, emphasizing integration of green development and environmental governance into bankruptcy trials.