Legal Services on Acquisition of Under-Construction-Building of Xinxin Commercial Building

Xinxin Commercial Building is located in the prime lot of Shanghai. It used to be a commercial building of eight-storeys. Several years ago, a private real estate development enterprise obtained the building by auction and was permitted to reconstruct it, but in the process of reconstruction it was sealed up several times because of too many lawsuits related to it, and it might be auctioned again.

A state-owned enterprise intended to purchase this project in construction, so it appointed Mr. Chambers Yang and his team to provide legal services including design of plan, negotiation, creation of contracts and so on. Under Mr. Yang’s delicate design and the parties’ cooperation, a final proposal was decided to defuse legal risks to the greatest extent and to balance the rights and obligations between the two parties. Although some other legal and technical barriers occurred, the acquisition of the project was successfully accomplished in the end.