What do you need to know about bankruptcy and operational distress in China? [Date Updated]

When launched in 2007, China’s Enterprise Bankruptcy Law was groundbreaking and has become one of the most significant pieces of legislation underpinning China’s market economy. Across the law and the growing sophistication in the approach of insolvency practitioners, China’s bankruptcy regime provides investors with certainty, transparency and protection during a restructuring process. 

The Chamber’s Legal & Compliance Committee is pleased to invite Lingqi Wang, a partner at leading law firm Fandga Partners, to introduce the background of the Enterprise Bankruptcy Law,how it changed the bankruptcy landscape to what businesses operate in today, and shed light on the following key issues for businesses, investors and financiers to understand: 

1. Main features of the bankruptcy regime, including the modern toolkit for bankruptcy protection, a comparative study of PRC and US bankruptcy laws, and claim priorities.
2. Reorganisation procedure, including appointment of administratorsand insolvency practitioners, creditors‘ meetings, bankruptcy plans and their implications.
3. Practical challenges, including negotiation with banks and balancing the role of local government.
4. Cross-border Insolvency, including extraterritoriality and reciprocity, and keep-well deeds battles.