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Corporate Bankruptcy Law in China : Principles, Limitations and Options for Reform / Natalie Mrockova

By: Mrockova, Natalie.
Material type: TextTextPublisher: Oxford, UK; New York, USA Hart Publishing an imprint of Bloomsburg Publishing 2021Edition: First ed.Description: xxiv, 334p. : ill. ; 23cm.ISBN: 9781509945658 (pbk); 9781509932443 (hardback).Subject(s): China; Bankruptcy; Business failures--Law and legislation; Corporate reorganizations--Law and legislation; Debtor and creditor; Law reform; Politics and governmentDDC classification: 346.51078 MRO Online resources: Click here to access online
Contents:
Table of Contents : 1. Introduction 1.1. Theoretical Framework: Economic Analysis of Law 1.2. Why Bankruptcy Law Matters 1.3. Methodology 1.4. Structure of the Book PART I BACKGROUND 2. China's Socio-Economic, Political and Legal Environment 2.1. Economic and Political Transformation of China 2.2. Power and the Party-State 2.3. Laws and Rules in China 2.4. Courts, the Party-State and Limited Law Enforcement in China 2.5. Corporate Ownership and Control in China 3. Debt Finance and Enforcement in China 3.1. Debt Finance in China 3.2. Companies' Access to Credit in China 3.3. Debt Enforcement Mechanisms in China 3.4. General Challenges to Debt Enforcement in China PART II THE EBL AND ITS PRACTICAL LIMITATIONS 4. Bankruptcy Law in China 4.1. History of Bankruptcy Law in China 4.2. Black-letter Overview of the Enterprise Bankruptcy Law 2006 4.3. Supreme People's Court's Interpretations and Judicial Cases 4.4. Personal Bankruptcy Law 5. Limited Use of the Enterprise Bankruptcy Law 2006 and its Causes 5.1. Limited Use of the Enterprise Bankruptcy Law 2006 5.2. Reasons for the Limited Use of the EBL – The Four 'Constraints' 6. The First Constraint – Creditors and Debtors Feel Insufficiently Protected under the EBL 6.1. Implications of Courts' Duties to Protect Employees 6.2. Heightened Threat of Scrutiny and Liability under the EBL 6.3. Insolvency as De Facto Entry Requirement for Reorganisation 7. The Second Constraint – Reduced Recoveries under the EBL 7.1. General Flaws in Debt Enforcement that Negatively Affect Recoveries under the EBL 7.2. Shortcomings that Specifically Affect EBL Enforcement 7.3. The EBL not Viable for Certain Types of Debt Contracts 8. The Third Constraint – Limitations and Biases of EBL Enforcers 8.1. Courts' and Lawyers' Internal Limitations 8.2. Administrators' Passivity 8.3. The Party-state's Influence over Court Enforcement of the EBL 9. The Fourth Constraint – Non-EBL Debt Enforcement Mechanisms 9.1. Private Alternatives and their Perceived Advantages 9.2. Politically Driven Alternatives and their Perceived Advantages PART III DESIRABILITY AND OPTIONS FOR REFORM 10. Desirability of Reforming Bankruptcy Law in China 10.1. Is a Greater Use of Bankruptcy Law in China Desirable? 10.2. Benefits of Greater Use of (Reformed) EBL 10.3. Nature of Further Reform 11. Options for Reform 11.1. Reforms Aimed at Improving EBL Provisions 11.2. Reforms Aimed at Improving EBL Enforcement Practices and Surrounding Rules 11.3. Reforms Aimed at EBL Enforcers 12. Recent Reform Initiatives 2015–20 12.1. What Set Off Recent Bankruptcy Law Reform? 12.2. Summary of Key Reforms 2015–20 12.3. Reform 1: Encourage Greater Use of the EBL – Resolving Zombie Companies 12.4. Reform 2: Specialised Bankruptcy Courts and Administrator Associations 12.5. Reform 3: EBL Platform 12.6. Reform 4: Judicial and Political Guidance 12.7. Reform 5: Local Conferences and Experience-sharing Events 12.8. Reform 6: Simplified EBL Procedure 12.9. Reform 7: Personal Bankruptcy 12.10. Reform 8: Bankruptcy Assistance Fund 12.11. Reform 9: Judges' Evaluation System for Resolving EBL Cases 12.12. Reform 10: Cooperation with Local Party-state 12.13. The Future PART IV FOREIGN STAKEHOLDERS AND THE EBL 13. The Role of Foreign Parties in Corporate Bankruptcy Cases in China 13.1. Foreign Influence in the Making of the EBL 13.2. Rules and Guidance that Govern Cross-border Bankruptcies in China 13.3. Foreign Stakeholders in Corporate Bankruptcy Cases in China Conclusion
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Reference Book Reference Book VIT AP School of Law
LAW Section
346.51078 MRO (Browse shelf) LA02213 Not for loan LAW 021065

It includes Preface, Contents, List of Abbreviations, Judicial and Political Guiding documents, Table of Figures, Bibliography and Index pages etc.

Table of Contents :

1. Introduction
1.1. Theoretical Framework: Economic Analysis of Law
1.2. Why Bankruptcy Law Matters
1.3. Methodology
1.4. Structure of the Book

PART I
BACKGROUND
2. China's Socio-Economic, Political and Legal Environment
2.1. Economic and Political Transformation of China
2.2. Power and the Party-State
2.3. Laws and Rules in China
2.4. Courts, the Party-State and Limited Law Enforcement in China
2.5. Corporate Ownership and Control in China
3. Debt Finance and Enforcement in China
3.1. Debt Finance in China
3.2. Companies' Access to Credit in China
3.3. Debt Enforcement Mechanisms in China
3.4. General Challenges to Debt Enforcement in China

PART II
THE EBL AND ITS PRACTICAL LIMITATIONS
4. Bankruptcy Law in China
4.1. History of Bankruptcy Law in China
4.2. Black-letter Overview of the Enterprise Bankruptcy Law 2006
4.3. Supreme People's Court's Interpretations and Judicial Cases
4.4. Personal Bankruptcy Law
5. Limited Use of the Enterprise Bankruptcy Law 2006 and its Causes
5.1. Limited Use of the Enterprise Bankruptcy Law 2006
5.2. Reasons for the Limited Use of the EBL – The Four 'Constraints'
6. The First Constraint – Creditors and Debtors Feel Insufficiently Protected under the EBL
6.1. Implications of Courts' Duties to Protect Employees
6.2. Heightened Threat of Scrutiny and Liability under the EBL
6.3. Insolvency as De Facto Entry Requirement for Reorganisation
7. The Second Constraint – Reduced Recoveries under the EBL
7.1. General Flaws in Debt Enforcement that Negatively Affect Recoveries under the EBL
7.2. Shortcomings that Specifically Affect EBL Enforcement
7.3. The EBL not Viable for Certain Types of Debt Contracts
8. The Third Constraint – Limitations and Biases of EBL Enforcers
8.1. Courts' and Lawyers' Internal Limitations
8.2. Administrators' Passivity
8.3. The Party-state's Influence over Court Enforcement of the EBL
9. The Fourth Constraint – Non-EBL Debt Enforcement Mechanisms
9.1. Private Alternatives and their Perceived Advantages
9.2. Politically Driven Alternatives and their Perceived Advantages

PART III
DESIRABILITY AND OPTIONS FOR REFORM
10. Desirability of Reforming Bankruptcy Law in China
10.1. Is a Greater Use of Bankruptcy Law in China Desirable?
10.2. Benefits of Greater Use of (Reformed) EBL
10.3. Nature of Further Reform
11. Options for Reform
11.1. Reforms Aimed at Improving EBL Provisions
11.2. Reforms Aimed at Improving EBL Enforcement Practices and Surrounding Rules
11.3. Reforms Aimed at EBL Enforcers
12. Recent Reform Initiatives 2015–20
12.1. What Set Off Recent Bankruptcy Law Reform?
12.2. Summary of Key Reforms 2015–20
12.3. Reform 1: Encourage Greater Use of the EBL – Resolving Zombie Companies
12.4. Reform 2: Specialised Bankruptcy Courts and Administrator Associations
12.5. Reform 3: EBL Platform
12.6. Reform 4: Judicial and Political Guidance
12.7. Reform 5: Local Conferences and Experience-sharing Events
12.8. Reform 6: Simplified EBL Procedure
12.9. Reform 7: Personal Bankruptcy
12.10. Reform 8: Bankruptcy Assistance Fund
12.11. Reform 9: Judges' Evaluation System for Resolving EBL Cases
12.12. Reform 10: Cooperation with Local Party-state
12.13. The Future

PART IV
FOREIGN STAKEHOLDERS AND THE EBL
13. The Role of Foreign Parties in Corporate Bankruptcy Cases in China
13.1. Foreign Influence in the Making of the EBL
13.2. Rules and Guidance that Govern Cross-border Bankruptcies in China
13.3. Foreign Stakeholders in Corporate Bankruptcy Cases in China
Conclusion

Description:
This fascinating study uses qualitative and quantitative data and insights from interviews with judges, lawyers, government officials, entrepreneurs, bankers, consultants, and academics in China and abroad, to provide a new perspective on the problems that have hindered the implementation of the Enterprise Bankruptcy Law in China, and recent attempts at reform.

The analysis provides unique insights into China's business world and its interaction with the judicial and political system in China.

In addition, the book also provides important information about how the Enterprise Bankruptcy Law affects foreign companies, agencies and governments that are active in China. The author draws on empirical data, decided cases and her experience of how the law and surrounding practices deal with foreign stakeholders whose interests are affected by corporate bankruptcy in China.

The book will improve understanding of how China's corporate bankruptcy law has been used in practice, what has limited its practical effectiveness, whether it is desirable for the law to be used more readily in China, and the possible options for its reform.

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