Open AccessCommencement of Bankruptcy Proceedings in China
Author(s) -
Weijing Wu
Publication year - 2004
Publication title -
victoria university of wellington law review
Language(s) - English
Resource type - Journals
eISSN - 1179-3082
pISSN - 1171-042X
DOI - 10.26686/vuwlr.v35i2.5648
Subject(s) - bankruptcy , china , context (archaeology) , zhàng , political science , publishing , law , law and economics , economics , geography , archaeology
Recent events and developments in China's economic reform have exposed the inadequacy of China's bankruptcy infrastructure. In this context, a new People's Republic of China (PRC) bankruptcy law has been proposed. This essay examines the problems in the most recent draft pertaining to the initiation of bankruptcy proceedings. In contrast with the bankruptcy laws of the United States and France, China's draft presents ambiguities and imperfections in the threshold requirement. Accordingly, further improvements have been proposed to facilitate the commencement of bankruptcy proceedings in the PRC.