Supreme People's Court, Provisions for the Appointment of Administrators for Trials of Enterprise Bankruptcies

Promulgated: April 12 2007
Effective: June 1 2007

Main Contents: In the trial of an enterprise bankruptcy, the people's court shall appoint an administrator from the register of administrators unless stipulated otherwise in the Enterprise Bankruptcy Law and these Provisions (Article 1). People's courts
shall formulate separate registers of social intermediary administrators and individual administrators according to the number of social intermediaries, such as law firms, accounting firms and bankruptcy liquidation firms, the number of professionals and the number of enterprise bankruptcies in their jurisdiction (Article 2). Social intermediaries that fulfil the criteria specified in the Enterprise Bankruptcy Law and their personnel with the relevant professional knowledge who have obtained the practising qualifications may apply to be included in the register of administrators (Article 3).

With regard to enterprise bankruptcies relating to financial institutions such as commercial banks, securities companies and insurance companies, or cases that have a significant impact nationwide, or in which the legal relationship is complex or the property of the debtor is dispersed, the people's court may invite the social intermediaries included in the registers of administrators of all regions to participate in a competition, and appoint the administrator from the participating social intermediaries (Article 21).