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INSOL have published their latest technical paper. The 24th technical paper is entitled "Confronting Practical Challenges and Pursuing Creative Solutions" and was written by Dr. Yin Zhengyou, senior partner W&H Law Firm and Mr. Alan CW Tang, partner and head of specialist advisory services, SHINEWING (HK) CPA Limited.
The paper can be viewed at http://www.insol.org/page/256/insol-technical-series-
As INSOL note: "For cultural and other reasons China did not have a bankruptcy law until 1906. The reform of the bankruptcy regime commenced about twenty years ago and finally the Enterprise Bankruptcy Law came into effect in June 2007.
Five years on the authors discuss the effectiveness of the bankruptcy regime at present and refer to the comments and conclusions drawn in respect of key issues that were discussed in the 4th China Bankruptcy Law Forum held last year.
The authors then look ahead to future initiatives and challenges that insolvency professionals face."
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...