The contract dispute between Cinda and Junefield over tens of billions of RMB of plot represented by Kangda won the case in the retrial by the Supreme Court

The Supreme Court recently made the retrial judgment on the contract dispute between the Applicant, Cinda Investment Co., Ltd. ("Cinda Investment"), Beijing Cinda Real Estate Co., Ltd. ("Cinda Real Estate") and China Cinda Asset Management Co., Ltd. Beijing Branch ("Cinda Beijing Branch"), and the Respondent, Beijing Junefield Real Estate Development Co., Ltd. ("Junefield Company") over the Junefield Phase II Development of Plot in Xuanwumen, Second Ring Road, Beijing, and supported all Cinda's retrial requests. Kangda accepted the entrustment of Cinda Investment and Cinda Beijing Branch and participated in the retrial of the case in the whole process, and finally won the case.

The Supreme Court's retrial judgment not only revoked the second-instance civil judgment previously made by the Supreme Court, but also upheld the first-instance judgment of the Higher People's Court of Beijing Municipality. In the retrial judgment, it is clearly stated that "good faith is one of the basic principles of civil law, and the parties shall strictly abide by it in commercial transactions. For major and complex commercial transactions, the parties shall actively perform their contractual obligations based on the principle of good faith, and shall not abuse their contractual rights, which will affect the stability and order of transactions". This has set another important milestone of "upholding the law, adhering to good faith and righting every wrong" for Chinese civil and commercial trials.

The case involves major and complex commercial transactions such as project transfer and debt restructuring. The transaction object is large, the transaction structure is complex and the transaction duration is long. It involves a variety of interlaced legal relationships. In particular, the project plot is located in the top-notch development land in the Second Ring Road of Beijing, and participants are well-known large domestic companies. Therefore, the case has attracted the attention of the legal community, real estate community, non-performing asset community and many media. During our representation period, we held dozens of business seminars and mock trials with Cinda and various experts, formed hundreds of various legal instruments, organized thousands of pages of evidence materials, and prepared tens of thousands of words of pre-trial preparation documents. The finally formed retrial representation viewpoint was fully adopted by the Supreme Court in the retrial judgment. The diligent working attitude and prudent and systematic legal logic of the representation team fully demonstrated the Firm's professional spirit and ability to handle major cases.

The Signature lawyers

SHAO Yue, HUO Jincheng