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The chinese approach toward cross-border bankruptcy proceedings: One progressive step ahead
Guangjian Tu; Xiaolin Li
2015-03
Source PublicationInternational Insolvency Review
ISSN1180-0518
Volume24Issue:1Pages:57-66
Abstract

The birth of the law on enterprise bankruptcy of the People's Republic of China in 2006 was highly acclaimed. It was generally regarded as a modernized comprehensive legislative work at home and abroad. The "territorialism" approach adopted therein respecting foreign bankruptcy proceedings, however, has received floods of criticism ever since. It has left a great legal vacuum for the protection of foreign bankrupt debtor's assets in China. Foreign investors, however, may see dawn and have their confidence restored after the recent decision of the Supreme People's Court in the well-known case of Thumb Environmental Technology Group v Sino-Environment Technology Group, which was made on 11 June 2014. From this case on, with some limitations, the legitimate powers of foreign bankruptcy administrators might normally be ensured once foreign bankruptcy proceedings are initiated in the place of registration or place of principal business of the foreign debtor, whereby foreign administrators will be able to take effective measures to investigate, protect and dispose of the bankrupt's assets located within the Chinese territory.

DOI10.1002/iir.1231
URLView the original
Indexed BySSCI ; SSCI
Language英語English
WOS Research AreaBusiness & Economics ; Government & Law
WOS SubjectBusiness, Finance ; Law
WOS IDWOS:000352795100003
PublisherWILEY-BLACKWELL
Fulltext Access
Citation statistics
Cited Times [WOS]:4   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionFaculty of Law
DEPARTMENT OF MACAO LEGAL STUDIES
Corresponding AuthorGuangjian Tu; Xiaolin Li
AffiliationUniversity of Macau,Taipa, Macau,Macao
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Guangjian Tu,Xiaolin Li. The chinese approach toward cross-border bankruptcy proceedings: One progressive step ahead[J]. International Insolvency Review,2015,24(1):57-66.
APA Guangjian Tu,&Xiaolin Li.(2015).The chinese approach toward cross-border bankruptcy proceedings: One progressive step ahead.International Insolvency Review,24(1),57-66.
MLA Guangjian Tu,et al."The chinese approach toward cross-border bankruptcy proceedings: One progressive step ahead".International Insolvency Review 24.1(2015):57-66.
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