Bankruptcy & Insovency

Since the first bankruptcy case of China in 19861, Chinese become more and more familiar with bankruptcy. However, due to the profession of the procedure and numerous revisions on related laws in 2006, public has very little deep comprehension on bankruptcy. For only one and a half years has The Enterprise Bankruptcy Law of People's Republic of China been enforced, the real effect of related regulations, therefore, still need testing in the future. In view of this, the instant essay will discuss the core revision of bankruptcy law so that suggestions can be proposed from a legislative angle.

China Commercial Law Firm's Bankruptcy & Reorganization specialists handle all aspects of corporate reorganization, creditors' rights and insolvency law in China. Bankruptcy proceedings, debt restructurings and corporate workouts are an integral part of our bankruptcy and reorganization practice.

Because our attorneys have experience outside of bankruptcy and reorganization, we are able to achieve practical and economic results for our clients. Our approach is practical and often interdisciplinary.

We realize that as the unprofitable State-Owned Enterprises (SOEs) are being reshaped, there are many insolvent and attractive enterprises available to be acquired by foreign parties. Finding and evaluating opportunities to purchase nonperforming loans at large discounts is also an area where our firm is very proactive.

As the national laws and policies are rapidly changing, our constant monitoring of developments in the bankruptcy sector and our position as a leading bankruptcy firm allows us to benefit from the increasingly transparent regulatory environment.

Our experience in bankruptcy cases and out-of-court workouts includes a wide variety of industries, including manufacturing, real estate, healthcare, retail, service, technology and insurance. We blend practical business judgment with solid China legal advice to provide efficient China-based solutions.

Our representations of debtors are numerous and varied. During the pre-bankruptcy workout stage, we assist clients in obtaining financing or restructuring debt to avoid bankruptcy. Alternatively, we develop strategies to obtain maximum benefits from the China bankruptcy process.

We provide counsel to mortgagees, asset-based lenders, debtors in possession, individual creditors, bankruptcy trustees, creditors' committees, landlords, solvent affiliates of insolvent parent companies, insolvent subsidiaries of solvent parents and lending institutions in the following areas:

  • Protecting the rights of bankrupt owners;
  • Filing of involuntary bankruptcy petitions;
  • Organization of asset sales in order to maximize creditor returns;
  • Assist in the purchasing of debtor's assets;
  • Represent entities in debt restructuring, and negotiations with lenders;
  • Assist on methods to avoid potentially bankrupt situations;
  • Purchasing of insolvent SOEs;
  • File proofs of claim and objections to such claims;
  • Represent equity committees, franchisee committees, secured and unsecured creditors, creditor's committees and trustees;
  • Analyze transactions of debtor's assets;
  • Assist in Debtor-in-possession financing; and
  • Obtain relief from orders and obtain return of collateral.
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