The Chinese bankruptcy law had to be changed due to the accession to the WTO. What is the role of the administrator in the new Chinese bankruptcy law?
Inhaltsverzeichnis (Table of Contents)
- A short Overview: The History of Bankruptcy
- The Administrator in the Chinese Bankruptcy Law of 2006
- The Duties and Functions of the Bankruptcy Administrator
- Who can be a Bankruptcy Administrator
- The Register of Bankruptcy Administrators
- The Bankruptcy Administrators Remuneration
- Conclusions
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper examines the role of the bankruptcy administrator in Chinese bankruptcy law, tracing the historical development of bankruptcy concepts and regulations in both Western and Eastern contexts. It further explores the specific duties and functions of the administrator within the framework of the 2006 Chinese Bankruptcy Law.
- Historical Evolution of Bankruptcy Concepts
- The Role of the Bankruptcy Administrator in China
- The Duties and Functions of the Bankruptcy Administrator
- The Supervision of the Bankruptcy Administrator
- The Impact of the 2006 Chinese Bankruptcy Law
Zusammenfassung der Kapitel (Chapter Summaries)
Chapter 1: A short Overview: The History of Bankruptcy This chapter provides a concise overview of the historical development of bankruptcy concepts, tracing its origins from ancient empires to modern legal frameworks. It highlights key milestones in the evolution of bankruptcy law, including the introduction of imprisonment for debtors, the concept of reorganization, and the emergence of modern bankruptcy laws.
Chapter 2: The Administrator in the Chinese Bankruptcy Law of 2006 This chapter delves into the role of the bankruptcy administrator in the Chinese Bankruptcy Law of 2006. It outlines the administrator's duties and functions, including the management of the debtor's assets, the investigation of financial status, and the participation in legal procedures. It further examines the administrator's supervision by the creditors' meeting and the people's court.
Schlüsselwörter (Keywords)
The key terms and concepts explored in this text include bankruptcy administration, Chinese law, historical development, duties and functions of the administrator, supervision, creditors' meeting, people's court, 2006 Chinese Bankruptcy Law. This analysis highlights the significant role of the bankruptcy administrator in facilitating a fair and efficient resolution of bankruptcy cases within the Chinese legal system.
Frequently Asked Questions
What is the role of the administrator in Chinese bankruptcy law?
The administrator manages the debtor's assets, investigates their financial status, and participates in legal procedures to ensure a fair resolution for creditors.
Why was the Chinese bankruptcy law updated in 2006?
The changes were largely driven by China's accession to the WTO, requiring a legal framework that meets international standards for corporate insolvency.
Who can be appointed as a bankruptcy administrator in China?
Administrators are typically professionals or specialized firms, such as law firms or accounting firms, that are listed in an official register.
Who supervises the work of the bankruptcy administrator?
The administrator is supervised by both the creditors' meeting and the people's court to prevent misconduct and ensure transparency.
How is the remuneration of a bankruptcy administrator determined?
Remuneration is generally based on the value of the managed assets and the complexity of the case, as regulated by the 2006 law.
What are the key functions of the administrator during reorganization?
The administrator oversees the business operations of the debtor and helps facilitate the development and implementation of a reorganization plan.
- Quote paper
- Mag. Ludwig Hetzel (Author), 2008, The Role of the Administrator in Chinese Bankruptcy Law, Munich, GRIN Verlag, https://www.grin.com/document/127190
