New bankruptcy rules clarify burden of proof
Further definition on the legal causes of bankruptcy
Issue: October 2011
Keywords (click to search):
bankruptcy
Jade & Fountain
A new judicial interpretation from China’s highest court is viewed by market participants as facilitating bankruptcy proceedings by creditors.
The Supreme People’s Court recently issued a new Interpretation on the PRC Enterprise Bankruptcy Law (中华人民共和国企业破产法), clarifying the factors on which a court may decide whether a company should go through bankruptcy proceedings. The Provisions on Several Issues Concerning the Application of the (1) (关于适用《中华人民共和国企业破产法》若干问题的规定（一）) (the Interpretation) took effect on September 26.
Article 2 of the Enterprise Bankruptcy Law sets out legal requirements on how a court decides whether an enterprise could...
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