Bankruptcy law in China中国破产法

ürzungsverzeichnis...............................................................................................................5Literaturverzeichnis....................................................................................................................6Introduction................................................................................................................................9I.DevelopmentLinesofBankruptcyLawinthePRCuntil2006............................................9A.KeyInsolvency-RelatedRulespriorto1986.................................................................9B.The1986BankruptcyLaw..........................................................................................10C.PoliticalBankruptcyunderthe1994Notice...........................................................11D.InterpretationsandguidelinesbythePRC'scourts...................................................12E.InterimNotes.............................................................................................................12II.TheNew2006BankruptcyLaw-Background...................................................................13A.LegislativeHistory......................................................................................................131.KeyData..............................................................................................................132.Drivingfactorsfortheimplementationofthenew2006BankruptcyLaw......................................................................................................................163.Summary:Keyconsiderationsdrivingthelegislativeprocess............................17a)Insufficiencyoftheexistingbankruptcyregime.....................................17b)Safeguardingthestabilityofthefinancesector.....................................17c)Particularitiesofstate-ownedenterprises..............................................18d)FurtherObservations...............................................................................19B.Overview:MajorDifferencesoftheNew2006BankruptcyLawcomparedtopre-existingBankruptcyRules...............................................................................191.Broaderapplicationonmorediversetypesofenterprises................................192.Bankruptcyadministratortoreplacethegovernment-appointedliquidationcommittee.........................................................................................20Page-23.Righttofileabankruptcyapplication.................................................................204.Reorganizationproceedings................................................................................215.Creditors'protection...........................................................................................21C.Theinfluenceofforeignlaws.....................................................................................211.Introduction.........................................................................................................212.Historicalperspective..........................................................................................223.Currentinfluence.................................................................................................23D.TraditionalculturalaspectsofbankruptcyinChina...................................................24III.The2006BankruptcyLaw-SelectedTopics.....................................................................251.Introduction.........................................................................................................252.Scopeofapplicability-potentialdebtors...........................................................263.Groundsforinsolvency........................................................................................264.TheInsolvencyAdministrator..............................................................................285.TheRoleofthePeople'sCourt............................................................................296.Creditors'MeetingsandtheCreditors'Committee............................................30a)Creditors'Meetings.................................................................................30b)TheCreditors'Committee.......................................................................317.ProceduralMilestonesinaChineseInsolvency..................................................31a)Application...............................................................................................32b)AcceptanceoftheApplication.................................................................32c)StepsfollowingtheAcceptanceoftheBankruptcyApplication.............338.Legaleffectsoftheacceptanceofthebankruptcyapplication..........................34a)ContractualObligations...........................................................................34Page-3Page-4b)Claw-backprovisions...................