Author: Charles D. Booth Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Both the People's Republic of China and the Socialist Republic of Vietnam are making the transition from a centrally planned economy to a market-based economy. An effective bankruptcy law is an integral part of the institutional framework necessary for this transition. China enacted the Law of the People's Republic of China on Enterprise Bankruptcy on December 2, 1986, and it came into operation on October 1, 1988. On April 9, 1991, the PRC Civil Procedure Law was approved, with Chapter XIX applying to the bankruptcy of non-SOE enterprises with legal person status. The Vietnam Law on Bankruptcy was enacted on December 30, 1993, and took effect on July 1, 1994. These laws did not live up to early expectations and both China and Vietnam proposed new insolvency laws The present article provides an update on the insolvency reform processes in China and Vietnam since mid-2002 and discusses six main areas: the insolvency framework, the scope of the bankruptcy laws, bankruptcy administration, corporate rehabilitation, priorities in distribution and the protection of employees' interests, and cross-border insolvency issues.
Author: Yongqian Xu Publisher: Routledge ISBN: 1317167147 Category : Law Languages : en Pages : 372
Book Description
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. However, this new law is likely to face significant challenges within its implementation due to weaknesses in the countries legal and social infrastructure. China's New Enterprise Bankruptcy Law clearly presents the structure of China’s 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. Written by Chinese experts with a professional interest and specialist knowledge of insolvency law, this volume serves as an indispensable guide for academics and researchers in the area, as well as practitioners and professionals involved with Chinese business law.
Author: Elmar Altvater Publisher: Verso ISBN: 9780860916109 Category : Business & Economics Languages : en Pages : 294
Book Description
Considers the discordant state of the capitalist world in the 1990s, drawing on both green and socialist economies. Altvater's central concern is to examine the claims made for the market, both in the history of capitalism and in the globalized market economy.
Author: John Garrick Publisher: Routledge ISBN: 0415692857 Category : Business & Economics Languages : en Pages : 290
Book Description
Examines China's 'going out' policy by addressing the ways in which the underpinning legal reforms enable China to pursue its core interests and broad international responsibilities as a rising power. The contributors consider China's civil and commercial law reforms against the economic backdrop of an outflow of Chinese capital into strategic assets outside her own borders. This movement of capital has become an intriguing phenomenon for both ongoing economic reform and its largely unheralded underpinning law reforms.
Author: Philippe Aghion Publisher: ISBN: Category : Bankruptcy Languages : en Pages : 78
Book Description
We propose a new bankruptcy procedure. Initially, a firm's debts are cancelled, and cash and non-cash bids are solicited for the 'new" (all-equity) firm. Former claimants are given shares, or options to buy shares, in the new firm on the basis of absolute priority. Options are exercised once the bids are in. Finally, a shareholder vote is taken to select one of the bids. In essence, our procedure is a variant on the U.S. Chapter 7, in which non-cash bids are possible; this allows for reorganization. We believe our scheme is superior to Chapter 11 since it is simpler, quicker, market-based, avoids conflicts, and places appropriate discipline on management.
Author: Yongqian Xu Publisher: Routledge ISBN: 1317167139 Category : Law Languages : en Pages : 372
Book Description
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. However, this new law is likely to face significant challenges within its implementation due to weaknesses in the countries legal and social infrastructure. China's New Enterprise Bankruptcy Law clearly presents the structure of China’s 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. Written by Chinese experts with a professional interest and specialist knowledge of insolvency law, this volume serves as an indispensable guide for academics and researchers in the area, as well as practitioners and professionals involved with Chinese business law.
Author: Deryck A. Palmer Publisher: Beard Books ISBN: 1587982978 Category : Law Languages : en Pages : 454
Book Description
The authors provide a systematic review of the Chinese Enterprise Bankruptcy Law's major provisions, from the comparative perspective of the U.S. Bankruptcy Code in particular. They provide not only a nuanced understanding of the law, but also insights and practical recommendations on its meaning and possible application.
Author: Jay Lawrence Westbrook Publisher: Martinus Nijhoff Publishers ISBN: 9004180257 Category : Law Languages : en Pages : 319
Book Description
We live in an age of economic turmoil. The recent crises emphasize the need for modern, sophisticated rules to govern businesses in financial distress in order to realize value from distressed companies and to protect economic institutions. This book provides information for legislators, policymakers, lawyers, accountants, academics, and administrators who seek to understand the workings of insolvency laws. Guided by the World Bank’s Principles and Guidelines, it supplements the work in this field done by UNCITRAL.
Author: Yuka Kaneko Publisher: Springer Nature ISBN: 9811683026 Category : Law Languages : en Pages : 84
Book Description
This book examines the outcomes of the economic law reforms in Asian developing countries, guided by the leading international development financiers such as the World Bank and the Asian Development Bank. Included is a particular focus on the recent “insolvency law” reforms in the Asian emerging economies, such as Vietnam, Laos, and Myanmar. Such legal reforms are the results of the “transplant” of the model law provided by these donor agencies, a law that was created in the post-Asian Currency Crisis in the 1990s. This book therefore examines the outcomes of three decades of donor-guided legal reforms. Appropriately, it applies not only the static approach to the legal texts but also an empirical methodology through interview surveys of the corporate and financial sectors. Following the introduction in Chapter I, Chapter II reviews the basic theories and presents the methodological framework. Chapter III then analyzes the contents of insolvency law reforms in the major target countries, namely, Vietnam, Laos, and Myanmar. Chapter IV provides a closer investigation into the design choices of Myanmar’s 2020 Insolvency Law as a typical example of the law reform involving the inter-donor conflict of law models between the Asian Development Bank and Japan’s official development assistance project. Lastly, Chapter V applies an empirical approach to the functioning of insolvency law, through international collaboration for interview surveys with small and medium-sized enterprises (SMEs) and their financiers.
Author: Charles D. Booth
Author: Yongqian Xu
Author: Elmar Altvater
Author: John Garrick
Author: 朱少平
Author: Philippe Aghion
Author: Yongqian Xu
Author: Deryck A. Palmer
Author: Jay Lawrence Westbrook
Author: Yuka Kaneko