Chinese bankruptcy practice and governmental measures

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Grandall Legal GroupShen [email protected] June 1 2007, the new Enterprise Bankruptcy Law of the PRC (EBL) came into force. It…


Grandall Legal Group
Shen Tianfeng
[email protected]


On June 1 2007, the new Enterprise Bankruptcy Law of the PRC (EBL) came into force. It applies to all legal entities, including foreign investment enterprises, except for partnerships and sole proprietorships. The adoption of EBL announced the start of a new bankruptcy regime in China by unifying all the prevailing laws, rules and regulations into a single, coherent code. It saved many failing businesses during the 2008 global financial turmoil and economic slowdown.

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