China's draft amendment to the Enterprise Bankruptcy Law was
文 / 小金
2026-08-25 14:02:28
来源:亚金网
China's draft amendment to the Enterprise Bankruptcy Law was submitted to the National People's Congress Standing Committee for a second reading on the 25th. The revised draft refines personal bankruptcy, bankruptcy protection, restructuring and cross-border bankruptcy rules. It adds a dedicated pre-restructuring negotiation section, defining two routes — parties reaching a restructuring agreement or a pre-vote on a preliminary restructuring plan — and specifies the legal consequences for entering formal restructuring from either route. The draft allows parties that lawfully conduct pre-restructuring negotiations to recommend an administrator to people's courts. It also clarifies cross-border bankruptcy provisions, including extraterritorial effect of proceedings, circumstances for Chinese court jurisdiction and mechanisms for international judicial assistance.
