PRC sets up bankruptcy courts, launches info website

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The People’s Republic of China recently launched two initiatives that are related to enterprise bankruptcies. On 1 August 2016, the Supreme People’s Court (SPC) launched the Information Website for National Bankrupt Enterprises Recombinational Cases.

The website will be used as a centralised information system through which information and actions relating to enterprise bankruptcy proceedings will be published and undertaken.

story_1On 27 September 2016, Beijing established the first specialised bankruptcy court in China, under its No. 1 Intermediate People’s Court, Shanghai, in Tianjin and Chongqing. Eleven other provinces are also expected to set up specialised bankruptcy courts under their respective intermediate people’s courts later this year.

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Business Law Digest is compiled with the assistance of Baker & McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mailing Danian Zhang (Shanghai) at: danian.zhang@bakermckenzie.com

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