Legal Services on Rights and Interests Transfer of Real Estate: Case of Wenhui-xinmin Newspaper Building

Wenhui-xinmin Newspaper Building used to be named Shanghai Central Plaza. It was developed by Shanghai Zhidi Company and Shanghai No.5 Component Factory cooperatively, but after its structural roof-sealing it was stopped by the shortage of money. The Zhidi Company intended to transfer the whole building, and meanwhile Xinmin Evening News hoped to build a intellectual building as its communication center. So these two parties negotiated on the issue and concluded a preliminary consent. However, in the intensive discuss, various legal barriers occurred including mortgages, pre-sale, suspension of payment to the construction companies and so on. Therefore, Xinmin Evening News publicly solicited opinions from law firms, and the plan submitted by the firm in which Mr. Chambers Yang was won the competition and became the provider of legal services regarding the issues.

After the lawyers participation in various negotiations, coordination, due diligence, review of documents, creation of legal documentations and so on, all legal risks were defused one by one. At last, the largest uncompleted project on the west bank of Huangpu River then was revitalized and renamed as Wenhui-xinmin Newspaper Building.