China’s expanding economy has steadily integrated with the sophisticated market economies and capital markets of North America and Europe. Today, Chinese, European, and American firms are frequently bound together in a complex web of business assets, contractual relationships, and obligations spanning multiple jurisdictions. The prospective failure of Chinese firms is therefore a matter of international concern.
When Chinese firms fail, what effect will China’s new Enterprise Insolvency Law (EIL) have upon the cross-border administration of assets, claims, and litigation likely to arise out of PRC insolvency proceedings? This article is a brief, preliminary effort to address that question, with particular emphasis on the EIL’s potential effect in the US legal system.
The article is accessible here. Republished with kind permission of Chase Cambria Company (Publishing) Ltd.