Bankruptcy in China
The Enterprise Bankruptcy Law of the People's Republic of China (trial Implementation) was first passed in 1986. On 1 June 2007, the new Enterprise Bankruptcy Law of the PRC came into force. It contains 136 articles, almost 100 more than the 1986 law it replaced, and consequently it is thought to be more complete legally.
The Enterprise Bankruptcy Law of the PRC was adopted in August 27, 2006, and became effective since June 1, 2007.
Chapter 1 General Provisions Chapter 2 Application and Acceptance Section 1 Application Section 2 Acceptance Chapter 3 Administrator Chapter 4 Debtor's Property Chapter 5 Expenses for Bankruptcy Proceedings and Debts of Common Benefits Chapter 6 Declaration of Credits Chapter 7 Creditors' Meeting Section 1 General Provisions Section 2 Creditors' Committee Chapter 8 Reorganization Section 1 Application for and Period of Reorganization Section 2 Preparation and Approval of Reorganization Plan Section 3 Execution of Reorganization Plan Chapter 9 Composition Chapter 10 Bankruptcy Liquidation Section 1 Declaration of Bankruptcy Section 2 Appraisal and Distribution Section 3 Termination of Bankruptcy Proceedings Chapter 11 Legal Liability Chapter 12 Supplementary Provisions
The Enterprise Bankruptcy Law of the PRC 2007 applies only to the mainland of China. Due to the "One Country, Two Systems" policy of the PRC, different laws and regulations regarding to bankraptcy apply in Hong Kong and Macau.
- China's New Bankruptcy Law
- The Enterprise Bankruptcy Law of the People's Republic of China (Trial Implementation) -- passed 2 December 1989, effective until 1 June 2007
- The Enterprise Bankruptcy Law of the People's Republic of China -- passed 27 August 2006, effective 1 June 2007
- The full text of the code (Mandarin) http://www.gov.cn/ziliao/flfg/2006-08/28/content_371296.htm
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