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'insolvency' or 'bankruptcy' code of a jurisdiction but also closely related laws and the institutional framework in which those …
Persistent link: https://www.econbiz.de/10012563514
In 1986, the People's Republic of China enacted its first national bankruptcy law, the Law of the People's Republic of … China on Enterprise Bankruptcy, as part of an emerging legal framework for the country's transition from a planned economy … to a market economy. At the time of its enactment the bankruptcy law was considered a significant political and economic …
Persistent link: https://www.econbiz.de/10013134029
Hong Kong is frequently portrayed as a modern international city at the cutting edge of the twenty-first century, the so-called ‘Asian century.' Yet Hong Kong's corporate insolvency law remains very much rooted in mid-twentieth century England. One finds in the Hong Kong Companies Ordinance...
Persistent link: https://www.econbiz.de/10013147889
facilitating economic recovery. This article discusses insolvency law reform in Hong Kong, focusing on bankruptcy law (that came …
Persistent link: https://www.econbiz.de/10013148155
Current Hong Kong insolvency law, primarily the Bankruptcy Ordinance and winding up legislation, is based on English … analysis of the likely insolvency reforms. Rather, it (i) discusses selected recommendations regarding bankruptcy that it is …
Persistent link: https://www.econbiz.de/10013148156
Although the English literature on cross-border insolvency dates back almost two centuries, it is only during the last two decades that the subject has truly emerged from the shadows. The growing awareness of cross-border insolvency issues is no doubt closely bound to the increasing pace of...
Persistent link: https://www.econbiz.de/10013148158
changes have recently been made to Hong Kong bankruptcy law. The Hong Kong Bankruptcy (Amendment) Ordinance 1996 was enacted … makes the first comprehensive changes to Hong Kong bankruptcy law in over a century and will affect the insolvency of both … individual debtors and partnerships. The new Ordinance is expected to come into operation later in 1997 after the new Bankruptcy …
Persistent link: https://www.econbiz.de/10013148182
Drastic changes were made to the Bankruptcy Law of Hong Kong after the British colony of Hong Kong became a Special …
Persistent link: https://www.econbiz.de/10013148189
A glaring weakness in Hong Kong insolvency law has been the lack of an acceptable corporate rescue procedure. Under existing law it is difficult to reorganize or restructure a company in financial difficulty. Therefore, creditors holding fixed and/or floating charges often resort to receivership...
Persistent link: https://www.econbiz.de/10013148197
The lengthy Chinese bankruptcy law reform process that began in 1994 ended on 26 August 2006, with the enactment of the … PRC Enterprise Bankruptcy Law. This article discusses five controversial areas that were debated throughout the drafting … process – the scope of the law, bankruptcy administration, corporate reorganisation, priorities and the protection of employee …
Persistent link: https://www.econbiz.de/10013148198