Bankruptcy Law Terminology

Author: Xu Yongqian
Publisher:
Publish Date: 2007-01-01
Features: The 23rd session of the Standing Committee of the 10th National People's Congress passed the "Enterprise Bankruptcy Law of the People's Republic of China" (hereinafter referred to as the "Enterprise Bankruptcy Law" or "this Law"). This is another important achievement in the legislation of market entities in our country. Its promulgation is of great significance and role in improving our country's market economy legal system. The drafting and revision of the "Enterprise Bankruptcy Law" lasted for 12 years. It is a law that regulates corporate bankruptcy behavior, ensures fair debt repayment, and provides legal basis and protection for the bankruptcy of companies unable to repay their debts. The "Enterprise Bankruptcy Law" introduces the system of bankruptcy administrators and bankruptcy reorganization, comprehensively improving China's corporate bankruptcy procedures. With the implementation of the "Enterprise Bankruptcy Law," it will play a significant role in rescuing troubled enterprises, resolving debt crises for enterprises, and ensuring smooth delisting for enterprises in dire straits. To help a broad readership and corporate management personnel study and understand the "Enterprise Bankruptcy Law" and related concepts, the author has organized the writing of the book "Glossary of the Enterprise Bankruptcy Law." The book mainly includes relevant terms related to corporate bankruptcy, as well as some regulatory documents and basic terminology related to the "Enterprise Bankruptcy Law." The book provides brief explanations of relevant concepts and references to relevant legal provisions.