Latest China bankruptcy law enhances creditor rights

But practitioners say the problem of conflicting authorities has not been resolved.

ChinaÆs new bankruptcy law is an improvement in terms of general direction, but is unlikely to solve quickly the countryÆs longstanding problems, experts said at a gathering in Hong Kong this week.

ChinaÆs first enterprise bankruptcy law was established in 1986, but itÆs only with the latest revision, signed in August 2006 by president Hu Jintao, that employee protection has been subordinated to secured creditors.

These will now be refunded to the value of the collateral. Any deficiency will be...

To continue reading, please login or register for free

Click for more on: china | bankruptcy

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...