Legislation Roundup: Enterprise bankruptcy, Company Law, and Trust companies

New enterprise bankruptcy draft deals with cross-border bankruptcy cases. SPC specifies invalid amendments of articles of association. Trust companies’ scope of business is changed.

By Susan Mok

Bankruptcy

PRC Enterprise Bankruptcy Law (Bill of Amendment)

中华人民共和国企业破产法 (修订草案)

Where the domicile or habitual residence of a debtor is located outside of mainland China, but jurisdiction by a people’s court would be more favorable to the interests of a creditor, the creditor or the debtor may apply for settlement of the debt in accordance herewith.

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