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  1. Bankruptcy law moves closer to the mark

    Posted Oct 11th 2004, 12:00am by Staff Reporter

    ... in 2001. If that seems absurdly low, it represented a great leap forward from the 32 insolvencies reported in 1990, University of Hong Kong associate professor of law Charles Booth noted in a June ... Latest draft puts emphasis on corporate rescue, rather than closure, writes Bei Hu in the first of a two-part series Should reformers have their way, a new Chinese bankruptcy law could ...

  2. Transfer to full market economy tipped to take another decade

    Posted Jun 18th 2004, 12:00am by Staff Reporter

    ... was whether the rule of law was sufficiently ingrained in China's political-economic system. 'My answer is no, the rule of law is not sufficiently embedded,' said Mr Mitchell. 'You ... sufficiently protected to induce credit-driven lenders to make loans. 'Not yet,' said Mr Mitchell. The ADB, however, is helping the government craft a new bankruptcy law, which will enable ...

  3. Bankruptcy rises despite improving economy

    Posted Apr 17th 2004, 12:00am by Kelvin Chan

    ... Kelvin Chan Personal bankruptcies and petitions for bankruptcy in Hong Kong both rose slightly last month. The news comes as the unemployment rate and other economic indicators continue to improve. The Official Receiver's Office said on its website 1 ...

  4. Smaller businesses excluded from new draft of bankruptcy bill

    Posted Oct 26th 2004, 12:00am by Staff Reporter

    ... Alice Yan Lawmakers want to exclude small single-owner businesses and those formed through partnerships from a proposed bankruptcy law because the mainland lacks a credit-rating system. A draft of the law, now in its second reading, covers only limited liability corporations, Xinhua has reported. It said the dramatic change since the bill's first reading was due to the lack ...

  5. NPC review of draft bankruptcy law is key step forward

    Posted Jun 15th 2004, 12:00am by Shi Jiangtao

    ... Shi Jiangtao The mainland's draft bankruptcy law will face a preliminary review by the National People's Congress Standing Committee next week during a regular five-day session in Beijing. Xinhua reported yesterday that the draft law- a priority legislation during the term of the 10th NPC- would be of great importance in 'regulating company bankruptcy' ...

  6. Corporate failures to rise with new laws

    Posted Nov 15th 2004, 12:00am by Annette Chiu

    ... Annette Chiu The number of corporate insolvency cases in China is expected to double within three years after authorities pass new bankruptcy legislation early next year, according to a liquidation expert. The new law, which will update existing legislation with more definitions and guidelines, shows China's determination to catch up with international standards, said Alan Tang, ...

  7. 2,000 state firms granted bailout ahead of bankruptcy law

    Posted Jun 22nd 2004, 12:00am by Elaine Chan

    ... stipulated two ways for companies to withdraw from the market: merger and insolvency. The draft law also required insolvent companies to repay creditors before employees. ... and Administration Commission (Sasac), will be the 'last' administration-driven bailout and comes as the country's long-awaited draft corporate bankruptcy law undergoes its first reading ...

  8. Bankruptcy gains credibility

    Posted Oct 12th 2004, 12:00am by Staff Reporter

    ... The new law would appoint an administrator to assume daily management of property and business affairs while overseeing the administrative procedures of an insolvency case. Appointed by a court, ... reduce the strain on the judicial system, which is ill-equipped to cope with the growing number of complex insolvency cases, said University of Hong Kong associate professor of law Charles Booth. ...

  9. NPC reviews 'fair-for-all' draft law on bankruptcy

    Posted Jun 22nd 2004, 12:00am by Ray Cheung

    ... Ray Cheung The NPC Standing Committee started a five-day sitting yesterday to review a draft bankruptcy law and the results of inspections of the country's rural problems. Jia Zhijie, a vice-chairman of the legislature's Financial and Economic Committee, said the law would apply to all types of businesses and provide 'fair protection for all parties'. China News Service ...

  10. Bankruptcy petitions up again, jobs woe a factor

    Posted Jul 17th 2004, 12:00am by Kelvin Chan

    ... Kelvin Chan The number of people applying for bankruptcy rose for the second consecutive month in June. The Official Receiver's Office reported 1,069 people filed for personal bankruptcy last month, a 2 per cent rise over the 1,048 filed in May. The ...




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