Caixin
Jan 04, 2019 05:11 AM
FINANCE

Q&A: Top Court Adviser Suggests Better Use of Bankruptcy

China enacted the Corporate Bankruptcy Law in 2007, but implementation has been slow. Photo: VCG
China enacted the Corporate Bankruptcy Law in 2007, but implementation has been slow. Photo: VCG

As more Chinese companies struggle with debt in a cooling economy, discussion is heating up on how bankruptcy reorganization should be used to protect troubled business borrowers as well as creditors.

China enacted the Enterprise Bankruptcy Law in 2007, laying the legal groundwork for bankruptcy liquidation and reorganization. In practice, however, many companies, creditors and government officials have hesitated to use bankruptcy reorganization to manage business debt crises.

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