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CHINA DRAFTING BANKRUPTCY PROCEDURE FOR FINANCIAL INSTITUTIONS.
BEIJING, April 1 Asia Pulse - With the new Bankruptcy Law taking effect in 2007, China's bankruptcy procedure for financial institutions is now being drafted, said Wang Xinxin, a professor of the People's University of China and a member of the China New Bankruptcy Law drafting expert group.
But the professor disclosed that it has not been decided whether to make a unified bankruptcy rule for various institutions or make rules specifically.
The professor pointed out that the financial institution bankruptcy legislation needed to solve concrete issues and to make legislation pattern, which is urgently needed in practice.
Experts have said that it is difficult to find a unified ...
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Source: HighBeam Research, CHINA DRAFTING BANKRUPTCY PROCEDURE FOR FINANCIAL INSTITUTIONS.