中华人民共和国企业破产法英文版2.docx

中华人民共和国企业破产法英文版2.docx

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中华人民共和国企业破产法英文版2

中华人民共和国企业破产法英文版

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2008-12-2312:

51:

51

LawofthePeople'sRepublicofChinaonEnterpriseBankruptcy（2006）

OrderofthePresidentofthePeople'sRepublicofChina

No.54

TheLawofthePeople'sRepublicofChinaonEnterpriseBankruptcy,whichhasbeenadoptedatthe23rdmeetingoftheStandingCommitteeofthe10thNationalPeople'sCongressofthePeople'sRepublicofChinaonAugust27,2006,isherebypromulgatedandshallcomeintoforceasofJune1,2007.

HuJingtao,PresidentofthePeople'sRepublicofChina

August27,2006

LawofthePeople'sRepublicofChinaonEnterpriseBankruptcy（2006）

（Adoptedatthe23rdmeetingoftheStandingCommitteeofthe10thNationalPeople'sCongressofthePeople'sRepublicofChinaonAugust27,2006）

TableofContents

ChapterIGeneralProvisions

ChapterIIApplicationandAcceptance

SectionIApplication

SectionIIAcceptance

ChapterIIICustodian

ChapterIVAssetsofDebtors

ChapterVBankruptcyExpensesandCommunityDebts

ChapterVIDeclarationoftheCreditor'sRights

ChapterVIITheMeetingofCreditors

SectionICommonProvisions

SectionIICommitteeofCreditors

ChapterVIIIRectification

SectionIApplicationforandPeriodofRectification

SectionIIFormulationandApprovalofaRectificationPlan

SectionIIIImplementationofaRectificationPlan

ChapterIXReconciliation

ChapterXBankruptcyLiquidation

SectionIBankruptcyDeclaration

SectionIIConversionandDistribution

SectionIIITerminationoftheProceduresforBankruptcy

ChapterXILegalLiabilities

ChapterXIISupplementaryProvisions

ChapterIGeneralProvisions

Article1ThepresentLawisformulatedtoregulatetheproceduresofenterprisebankruptcy,fairlyliquidatethecreditsanddebts,safeguardthelegitimaterightsandinterestsofcreditorsanddebtorsandmaintainthemarketorderofthesocialisteconomy.

Article2Whereanenterpriselegalpersonfailstopayoffitsdebts,andthatifitsassetsarenotenoughtopayoffallthedebtsorifitisobviouslyincapableofpayingoffitsdebts,itsdebtsshallbeliquidatedinaccordancewiththeprovisionsofthepresentLaw.

Whereanenterpriselegalpersonisundertheaforesaidcircumstanceoritisobviouslylikelythatitisincapableofpayingoffitsdebts,itmaybesubjecttorectificationinaccordancewiththeprovisionsofthepresentLaw.

Article3Thebankruptcycaseshallbeunderthejurisdictionofthepeople'scourtwheretherelevantdebtorisdomiciled.

Article4WheretheproceduresforhearingabankruptcycasearenotprescribedinthepresentLaw,theyshallbesubjectedtotherelevantprovisionsoftheCivilProcedureLaw.

Article5Theproceduresforbankruptcy,whichhavebeeninitiatedaccordingtothepresentLaw,shallhavebindingforceupontheassetsofrelevantdebtorsoutsideoftheterritoryofthePeople'sRepublicofChina.

Whereanylegallyeffectivejudgmentorrulingmadebyaforeigncourtoverabankruptcycaseinvolvesanydebtor'sassetwithintheterritoryofthePeople'sRepublicofChina,ifthedebtorapplieswithorrequeststhepeople'scourttoacceptorexecuteit,thepeople'scourtshall,inlightoftherelevantinternationaltreatiesthatChinahasconcludedorjoinedortheprinciplesofreciprocity,carryoutanexaminationthereonand,whenholdingthatitdoesnotviolatethebasicprinciplesofthelawsofthePeople'sRepublicofChina,doesnotdamagethesovereignty,safetyorsocialpublicinterestsofthestate,doesnotdamagethelegitimaterightsandinterestsofthedebtorswithintheterritoryofthePeople'sRepublicofChina,acceptandexecutethejudgmentorruling..

Article6Whenhearingabankruptcycase,thepeople'scourtshallguaranteethelegitimaterightsandinterestsoftheemployersintheinsolvententerpriseandinvestigateitsadministrators'legalliabilities.

ChapterIIApplicationandAcceptance

SectionIApplication

Article7Adebtor,underthecircumstanceasprescribedinArticle2ofthepresentLaw,mayfileanapplicationwiththepeople'scourtforrectification,reconciliationorbankruptcyliquidation.

Wherethedebtorfailstopayoffitsduedebts,thecreditormayfileanapplicationwiththepeople'scourtforrectificationorbankruptcyliquidation.

Whereanenterpriselegalpersonhasbeendissolvedwithoutanyliquidationorwithoutcompletingtheliquidation,andtherelevantassetsarenotenoughtopayoffthedebts,thepersonliableforliquidationshallapplywiththepeople'scourtforbankruptcyliquidation.

Article8Whenapplyingforbankruptcy,anApplicationforBankruptcyandtherelatedevidencesshallbesubmittedtothepeople'scourt:

ThefollowingitemsshallbeindicatedintheApplicationforBankruptcy:

（1）Basicintroductionofthea