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Bankruptcy protection
HOME > PAST ISSUE > REPORTS [Premium content]July 2007
A new law creates a framework that protects creditors but, as ever, success depends on effective implementation
Representing one more step in a push to create a legal infrastructure, a new bankruptcy law took effect last month in China.
Twelve years in the making, the new law gives creditors a lot more cover – at least on paper – but its significance goes beyond the bricks and mortar of a bankruptcy process.
“All the laws in China are being updated,” said Ted Osborn, business recovery services partner at PricewaterhouseCoopers. “The Chinese ...
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