Publication Type
Journal Article
Version
publishedVersion
Publication Date
7-2016
Abstract
In 2006, China enacted its first rescue-oriented Enterprise Bankruptcy Law with the aim of establishing its corporate rescue culture. But the corporate reorganization procedure that is at the heart of the new bankruptcy law has not been used frequently. It is appropriate to ask why the use of China's new corporate rescue law has been so low. Meanwhile, in the existing corporate reorganizations under the 2006 Law, most debtors were excluded from the reorganization process, so that the Chinese new debtor-in-possession model, which seems to be a desirable control format, was largely shelved. Why so? This article explores these two issues through the use of empirical data collected from Zhejiang, a province with a significantly larger number of reorganizations than most other Chinese provinces.
Discipline
Asian Studies
Publication
Asian Journal of Comparative Law
Volume
11
Issue
1
First Page
55
Last Page
85
ISSN
1932-0205
Identifier
10.1017/asjcl.2016.3
Publisher
Cambridge University Press (CUP): HSS Journals - No Cambridge Open
Citation
ZHANG, Zinian and TOMASIC, Roman.
Corporate reorganization reform in China: Findings from an empirical study in Zhejiang. (2016). Asian Journal of Comparative Law. 11, (1), 55-85.
Available at: https://ink.library.smu.edu.sg/sol_research/1918
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
http://doi.org./10.1002/smj.260410.1017/asjcl.2016.3