China assets,
tracked and recovered through one Tokyo window.
For Japanese trustees, foreign liquidators, and Hong Kong receivers—all China-side asset tracing, preservation, monetization, and enforcement runs through Prospect's Tokyo desk and is executed by Haihua Yongtai's PRC network.
A scarce capability
Trustees and liquidators tracing PRC assets typically face three barriers: ① local Japanese firms cannot run PRC court actions or investigations; ② PRC firms have no Japan-side window or culturally fluent communication; ③ cross-border service, judgment recognition, and PIPL/data export compliance involve substantial legal-technical detail.
Prospect is one of the few firms that can serve as a single Tokyo window in Japanese, operate at Japanese-trustee tempo, and simultaneously mobilize PRC-wide legal resources.
Five-stage execution chain
Staged deliverables, staged decisions—avoid sunk cost, exit at any point.
Case assessment & feasibility
Completed in 1-2 weeks. We use anonymized materials to assess asset traceability, recovery probability, timeline, and cost range. Output: a candid Go / Partial / Don't pursue report.
- Debtor profile and verification
- Initial asset trace
- PRC enforceability analysis
- Timeline and fee range
China asset tracing & identification
Surface assets inventoried in 4-8 weeks; deep assets in 3-6 months. All investigation through lawful PRC channels.
- Real estate registry investigation
- Bank account investigation (court order required)
- Listed/unlisted equity tracing
- Related-party transactions and offshore movement
- Cash flow and payment channel analysis
PRC court preservation orders
Preservation orders to prevent dissipation. Foreign-related preservation requires security; we arrange.
- Pre-suit / in-suit preservation
- Security arrangements
- Post-preservation challenges
- Lift / extension management
Realization and recovery
Multiple channels: PRC enforcement procedures, NPL portfolio sale, settlement at discount.
- Enforcement applications
- Auction / private sale
- NPL package sale
- Settlement at discount
- Cross-border remittance compliance
Cross-border legal coordination
Japan Insolvency Act × PRC Civil Procedure Law / Bankruptcy Law interface.
- Recognition of Japanese judgments in PRC
- Cross-border service (Hague Convention)
- Japan-PRC Mutual Judicial Assistance Treaty
- PIPL / data export compliance
- Outbound remittance FX compliance
Target clients
Three client groups, predominantly referral-based.
Japanese trustees & administrators
Court-appointed trustees and special liquidators in Japan needing to trace and recover assets of debtors in China.
Hong Kong & offshore liquidators
Liquidators appointed by Hong Kong High Court, BVI, or Cayman jurisdictions, with PRC-side asset work.
Cross-border NPL / special situations funds
PE / hedge / NPL funds engaged in PRC NPL acquisition, special opportunities, distressed asset disposition.
China Insolvency & Recovery · Reference Fee Ranges
Cross-border China insolvency varies widely in complexity and claim value. Reference ranges below; final quotes depend on the engagement plan.
| Service Item | Fee Model | Reference Range |
|---|---|---|
| China insolvency participation (proof of claim → creditors' meeting → distribution) | Project + success fee | ¥1M + 5–12% of claim |
| Cross-border insolvency recognition & enforcement (CN→JP / JP→CN) | Project | ¥1.5M–5M |
| China receivables recovery (arbitral award / judgment enforcement) | Project + success fee | ¥600K–2M + 5–15% of claim |
| Pre-insolvency prevention: contract & security structure design | Project | ¥500K–1.5M |
| Restructuring negotiation / debt workout plan design | Project | ¥2M–8M |
| China recovery counsel retainer (multi-creditor coordination) | Monthly | ¥300K–1M / mo |
Initial 30-minute consultation is available online at no charge. We recommend engaging within 90 days to preserve creditor rights.
China Insolvency & Recovery · Standard 6-Step Process
China-related recovery is time-sensitive. This is the standard path for engagements within 90 days of trigger event.
Claim Review & Limitation Diagnosis
Review contracts, receivables, prior communications; identify statute of limitations and preservation options.
Strategy Design
Choose the optimal mix among 4 routes (arbitral enforcement / China litigation / insolvency filing / negotiated settlement).
Evidence Preservation & Initiation
Notarization, evidence preservation, preservation petitions, complaint/filing preparation.
Local Execution
Litigation, insolvency filing, and creditors' meeting participation via Haihua Yongtai China branches.
Enforcement & Recovery
After judgment/award, apply for enforcement; coordinate insolvency distribution.
Post-Mortem & Structural Recommendations
After case close, provide contract & security structure improvements to prevent recurrence.
Frequently asked by trustees
How are you different from Anderson Mori or Oh-Ebashi?
How are you different from King & Wood or Dehe Hengtai's Tokyo branches?
Fee structure?
Typical timeline?
Cross-border data compliance?
Confidentiality of trustee-provided materials?
Send case materials,
receive feasibility assessment in 1-2 weeks.
Assessment phase has transparent fee and certain timeline (¥300-500k / 1-2 weeks). If our assessment is don't pursue, we tell you honestly.