June 17, 2010

As one of the first agencies qualified to act as bankruptcy trustees in Shanghai, Watson & Band was invited to attend the “Colloquium of Bankruptcy Trustees” held by the No.2 Civil Tribunal of the Shanghai High People’s Court in the A3 Meeting Room of the High Court. The Colloquium aimed to further regulate the bankruptcy work in the Shanghai court system and to improve the trial of bankruptcy cases. Director of the No.2 Civil Tribunal, Mr. Yu Qiuwei, Deputy Director of the Docketing Tribunal, Mr. Wang Wei, directors from Shanghai Bar Association, Shanghai Accountants’ Association and Shanghai Liquidators’ Association, and representatives from the other 19 law firms, accounting firms and liquidator firms who were on the list of bankruptcy trustees of the Shanghai court system all attended the Colloquium.

Opinions on assessment of the performance of trustees, the Guide on the Duties of Trustees in Bankruptcy Liquidation (Discussion Version) drafted by the High People’s Court, and the difficulties encountered by trustees during the performance of duties were solicited at the Colloquium. Watson & Band put forward opinions and proposals for the performance assessment system and the draft Guide.