August 27, 2006
Revised Bankruptcy Law and Partnership Law adopted
The Standing Committee of the National People's Congress has just adopted two important (at least potentially so) pieces of legislation. Both are revisions of previously existing statutes.
- The Enterprise Bankruptcy Law (企业破产法), adopted Aug. 27, 2006, effective June 1, 2007 (Chinese text here)
- The Partnership Enterprise Law (合伙企业法), adopted Aug. 27, 2006, effective June 1, 2007 (Chinese text here)
I have not yet had time to read these and analyze the contents. While the delayed implementation date for something as sensitive as the Bankruptcy Law is understandable, it's hard to see why the implementation date of the Partnership Law is also so far off.
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Seminar on China’s New Bankruptcy Law and Distressed Investment Market
When: Thursday, September 14, 2006, 8:30am-10:30am
Where: China Institute, 125 East 65th Street, New York, New York 10021
RSVP: 212-744-8181 ext. 125
On August 27, 2006, China passed a new Enterprise Bankruptcy Law after more than a decade’s preparation and debate. “The law gives tougher backing to creditors’ claims on insolvent companies and creates, for the first time, a formal corporate-bankruptcy process,” a Wall Street Journal article comments.
A seminar will be held on September 14, 2006 in New York City to share the news. The panelists include Professor Shuguang Li, a member of the drafting working team of NPC on the new Enterprise Bankruptcy Law and director of the Bankruptcy Law and Restructuring Research Center at China University of Politics and Law, and other legal and business experts. They will share their views on the major issues during the drafting process and the impacts of the new law on China’s economy and international investment market.
To attend the seminar and to network with people of similar interest, please RSVP 212-744-8181 x 125. Please feel free to pass on the message to people who you think might be interested in the topic.
Posted by: VT | Sep 5, 2006 11:10:40 AM