The Supreme people’s Court has issued a new judicial interpretation of the PRC Bankruptcy law. In the 48 articles of this Interpretation several issues on bankruptcy are covered, amongh whose, for instance, which kink of items shall be considered as property of the debtor and which kind shall be excluded (such as, for example, goods in possession of the debtor without actual transfer of proprietorship’s rights, and non – transferrable goods belonging to the State).

In addition, the Interpretation further defines the procedures to exercise the right of withdrawal, right of retrieval, set-off right, preservation of debtors’ property and execution suspension in enterprise bankruptcy cases as well as the trial of the derivative litigation of debtors.

We will soon post a more in – dept analysis of the Interpretation for your reference.

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