Chinas new enterprise bankruptcy law context interpretation and application crc press book china has recently entered a significant stage in its economic transition with the introduction of a new and seemingly sophisticated bankruptcy law drawing inspiration from mature insolvency systems. Enterprise bankruptcy law of the peoples republic of china 15 days from the date it receives the application under special circumstances where the time limit for deciding whether to accept a . Chinas new enterprise bankruptcy law clearly presents the structure of chinas reformed legal bankruptcy system by introducing the framework and analyzing typical cases which have been or are being heard since the new bankruptcy law was operational. Under the new bankruptcy law the bankruptcy law of china which is currently under review provides for a classified voting system for secured and unsecured creditors and some special claims during the bankruptcy restructuring of an enterprise but fails to make provisions concerning voting groups of shareholders. Bankruptcy cases are initiated and tried in the united states bankruptcy courts which are a division of each federal district court appeals in a bankruptcy case depending on the circuit and practices of its district courts either go to the district court or to a bankruptcy appellate panel consisting of bankruptcy judges
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