CHINA: PROCESS IN PLACE, BUT STIGMA REMAINS
A filing can be made for bankruptcy with a view to the reorganisation of the company. This will involve the appointment of an administrator with wide management powers and will include a moratorium on enforcement which extends to secured assets. Alternatively, a filing can be made with a view to seeking approval by the creditors of a conciliation agreement .
Rules of the game
Weil, Gotshal & Manges offers a jurisdiction by jurisdiction review of key aspects of Asian insolvency laws currently in place, and some noteworthy changes on the way.
