The enacting of the mainland's new Enterprise Bankruptcy Law in June last year is a positive development in its corporate insolvency regime.
- Tue
- Mar 5, 2013
- Updated: 2:58am
Trending topics
16 Dec 2006
The number of personal bankruptcy filings jumped to 989 last month, up 10.5 per cent on October and an increase of more than 17 per cent year on year - reversing a steady decline since August.
15 Jun 2004
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.
4 Jul 2002
IN A PRAGMATIC world, bankruptcy would be but a phone call away. Simple cases would be outsourced to the private sector. No judge would be needed. Sworn statements would suffice. The slate could...
Hong Kong has been slow in following other common law jurisdictions to introduce legal provisions for corporate restructuring.
Most people declared bankrupt last year were aged 30 to 50, earned between $10,000 and $15,000 a month, had eight to 10 credit cards and were burdened with debts of more than $400,000.
Shanghai will see a surge in bankruptcy cases in the next few years due to sharpened competition following the country's admission to the World Trade Organisation.
Your editorial of December 10 headlined 'Banks and bankruptcy' contains an error.
Worsening unemployment is behind a big rise in personal bankruptcies in the first eight months of the year, according to the Official Receiver's Office.
Updated at 5.35pm:
The soaring level of bankruptcies in Hong Kong will come under the spotlight at a top-level meeting of policy advisers on Wednesday.
In Case You Missed It
Login
SCMP.com Account
or
Log in using a partner site
Log in using your Facebook account. What's this?
Don't have an SCMP.com account? Subscribe Now!