The Enterprise Bankruptcy Law of the
People's Republic of China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
(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 on August 27, 2006, and became effective since June 1, 2007.
Personal bankruptcy laws only exist in Hong Kong and Shenzhen.
Contents
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 bankruptcy apply in
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
and
Macau
Macau or Macao (; ; ; ), officially the Macao Special Administrative Region of the People's Republic of China (MSAR), is a city and special administrative region of China in the western Pearl River Delta by the South China Sea. With a pop ...
.
References
External links
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
Chinese business law
C
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
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