Aug 21 — The NPC Standing Committee’s Legislative Affairs Commission said the
draft amendment to China’s Enterprise Bankruptcy Law, due for a second review,
aims to strengthen restructuring procedures and cross-border insolvency rules.
Key provisions: clarify a temporary‑protection mechanism to safeguard continuity
of bankruptcy proceedings including reorganizations; broaden reorganization
filing rights so creditors, debtors and other parties may file directly and may
file before a bankruptcy declaration; require courts to hold hearings when
reviewing reorganization petitions; and tighten disclosure duties, obliging
debtors or administrators to provide timely, accurate and complete information
to relevant parties.
