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Asian Insolvency Systems: Closing the Implementation Gap

image of Asian Insolvency Systems: Closing the Implementation Gap

As Asian markets are now increasingly integrated in the world economy their domestic insolvency systems need to meet the expectations of international investors and lenders. Many Asian jurisdictions are responding by reforming  insolvency laws, introducing new procedures and strengthening institutions, but others are much less active. This conference proceedings includes papers showing how far various Asian countries have come in building effective and predictable insolvency systems and shows to what extent their systems provide confidence to investors and lenders.

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Issues in the acceptance of bankruptcy cases by Chinese courts

Bankruptcy occurs when a debtor is unable to repay debts due, according to the original intent of bankruptcy legislation, and in accordance with the provisions of Article XXXI of the Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Enterprise Bankruptcy Cases (the Regulations). The “inability to repay the debts due” means that the time limit for the debtor to perform on debts has expired and the debtor is unable to repay.

English

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