On July18, 2016, High Mark Law firm was designated as the Bankruptcy Trustee of Zhe Jiang Nanhua Times Group Co., Ltd. by Hangzhou Intermediate People’s Court and will perform duties regulatedin Enterprise Bankruptcy Law of the People's Republic of China.

The registered capitalof Nanhua is CNY 100 millions and the business scope of Nanhua covers concurrent-businessinsurance agency, industrial investment, non financing lease, and importation and exportation of minerals. On April11, ZhongHeng International Leasing Co., Ltd. filed a petition with Hangzhou Intermediate People’s  Court for bankruptcy liquidationof Nanhua on the ground that the assets of Nanhua wereinsufficient to discharge all of  its debts  andit clearly lacked the capacity to discharge such debts. On July7th , the  Court ruled onto accept the petition.

After the acceptance of the designation, with the rich experience on bankruptcy trustee, restructuring, debt acquisition and bankruptcy liquidation, High Mark Law Firmmadefull use of advantages of the company-operating mode and appointed professional lawyers to assist the Court.