China's Enterprise Bankruptcy Law (EBL 2006): cross-border perspectives

Bu, Qingxiu (2009) China's Enterprise Bankruptcy Law (EBL 2006): cross-border perspectives. International Insolvency Review, 18 (3). pp. 187-207. ISSN 1099-1107

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With China's new Enterprise Bankruptcy Law (‘EBL 2006’) having come into effect on 1 June 2007, a critical issue arises as to the extent to which Article 5, as a cross-border provision, will strengthen creditors' rights across jurisdictions. In this paper attention will be paid in particular to how the Chinese People's Court is likely to exercise its discretion to grant recognition to a foreign court ruling, and vice versa. The paper will start with a brief introduction to the circumstances under which Article 5 came into being. The evolution of China's cross-border insolvency practices will be examined through an analysis of an inbound case of B&T (2002) as well as an outbound one of GITIC (2005). In spite of the fact that China has not adopted the UNCITRAL Model Law, essential factors deemed necessary to be considered by China's court and its counterparts in US and UK are to be highlighted throughout the paper. Although the effect of Article 5 remains to be seen, it will be critically analysed focusing on some controversial issues. Copyright © 2009 John Wiley & Sons, Ltd.

Item Type: Article
Schools and Departments: School of Law, Politics and Sociology > Law
Subjects: K Law > K Law in General. Comparative and uniform Law. Jurisprudence > K0520 Comparative law. International uniform law > K1000 Commercial law
K Law > KZ Law of Nations
Depositing User: Qingxiu Bu
Date Deposited: 28 May 2013 16:53
Last Modified: 28 May 2013 16:53
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