Home >
Law >
Bankruptcy / Insolvency >
A Practical Guide to PRC Insolvency

A Practical Guide to PRC Insolvency A Foreign Creditor's Perspective

Author: James Wong
Publisher: LexisNexis Hong Kong
ISBN: 9789628855278
Published In: September 2004
Format: Hardback , 321 pages
Jurisdiction: China ? Disclaimer:
Countri(es) stated herein are used as reference only

Out of stock

Description
Contents
Author

Details

PRC Insolvency is a complicated and difficult subject becuase it involves:

various types of PRC entities (not all of which can be made bankrupt in the PRC);
diverse sources of relevant legal rules (not all of them up-to-date and consistent);
different kinds of liquidation, bankruptcy and related proceedings;
exceptional circumstances to which special rules will apply; and
unique socialist features that are difficult to understand without a historical analysis.

This book will guide you through the related underlying systems such as:

Different types of entities and their historical backgrounds
Different sources of legal rules and how to reconcile their conflicts
Different kinds of security available and the related approval and registration procedures
The foreign exchange control and its relationship with commercial lending and security
Different means of alternative dispute resolution to avoid insolvency proceedings

As a practical guide, this book will not only analyse different PRC insolvency laws and regulations and the related procedures but it will also help readers:

approach the subject from a common law perspective;
simplify and conceptualise the procedures for handy application (by means of flowcharts, tables and diagrams);
understand the relevant time frames and legal documents;
appreciate positions of creditors in different scenarios;
identify and avoid potential pitfalls;
make informed decisions with the cost/risk and benefit analysis provided; and
evaluate the PRC insolvency system critically

China

This book will be useful to lawyers, accountants, insolvency practitioners, non-performing loan investors and businessmen, as well as those who would like to undertstand more about the PRC legal system.

Part One: The Underlying Systems

Overview of Different Types of Borrowers in the PRC
Overview of PRC Legal Framework
Overview of PRC Finance and Security Systems
Overview of Enforcement of Debts and Security in PRC

Part Two: Different Bankruptcy Procedures

Overview of the PRC Bankruptcy System
Non-SOE Bankruptcy Procedure
SOE Bankruptcy Procedures
Variations Arising from other Enterprise-Specific, Regional and Industrial Differences

Part Three: Reconciliation and Reorganisation

l Legal Frameworks of Reconciliation and Reorganisation in the PRC

Part Four: More about PRC Insolvency

Hot topics in relation to PRC Insolvency
Frequently asked Questions and Answers in relation to Bankruptcy Proceedings
Reforms and Future Developments

Appendix 1 Translations of some Major PRC Bankruptcy-related Laws and Regulations

Appendix 2 Administrative Divisions of PRC

Appendix 3 List of Ciites covered by the Optimisation Scheme

Appendix 4 GITIC Case

Index

James Wong, CPE, PCLL, LLB (Peking), ACIB, AHKIB

James Wong is an associate with Allen & Overy where his focus is on insolvency and PRC practices.

James completed his Common Professional Examination and Postgraduate Crtificate in Law in Hong Kong in 1994 and 1995 respectively. He then obtained an LLS in PRC Law (Peking University) in 1999.

For a number of years James worked as an in-house legal manager before joining the Hong Kong office of Deacons in 1999. He also worked in Deacons’ Australian office on secondment for half a year. At Deacons, he specialized in PRC Bankruptcy practice and was involved in the well-known Guang Xin vs Guangdong International Trust & Investment Corporation case. He also assisted in matters involving the administrative receivership and liquidation of China Finance Trust & Investment Corporation and Guangdong Enterprises (Holdings) Limited and a number of regional government-owned SOE restructurings.

James has written a number of articles on PRC Bankruptcy in publications including the Journal of International Banking Law, the Hong Kong Lawyer and the Hong Kong Accountant. In addition, he has given presentations on PRC Bankruptcy and related topics from time to time to international banks, international accounting firms and American judges and lawyers. At Deacons, he also assisted his supervising partner in a survey on PRC Bankruptcy jointly conducted by World Bank, International Bar Association and Harvard University.

James is a member of the Insolvency Interest Group of the Hong Kong Society of Accountants and is involved in its PRC insolvency activities. In October 2003, he participated in its seminar on Corporate Restructuring, Merger & Acquisition and Liquidation held in Beijing alongside many senior government officials from the Beijing Court, Ministry of Commerce, the Customs, the Tax Bureau, the Administration of Foreign Exchange and the Administration of Industry and Commerce.