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Law of the People’s Republic of China on Bankruptcy of Enterprises
Title: Law of the People’s Republic of China on Bankruptcy of Enterprises Promulgating Organ: The Standing Committee of the National People’s Congress Date of Promulgation: August 27, 2006 Date of Implementation: June 1, 2007 Applicable Scope: Major Contents: The law states the compass of jurisdiction for cases of bankruptcy. In respect to application and reception, it is provided that a written statement and relevant evidences shall be offered while the application of bankruptcy is submitted to the people’s court. With regard to administers, the Law regulates that administers shall be appointed by people’s courts. The Law also states the scope for bankruptcy fee. In this Law, the function and power of creditor council is stipulated. |
