As the globalization of economy accelerates greatly, more and more cross-border trade and investment is inevitably coming into being, resulting in many bankruptcy cases in which the relationship of creditor's rights and debts is no longer limited to the territory of a country. In recent years, the most influential case is the bankruptcy case of Hanjin Shipping. Hanjin Shipping’s bankruptcy has had a great impact on the international shipping market, the global supply chain has been interrupted, and a large number of commercial disputes have been triggered. The problems of insolvency international cooperation and the conflicts between bankruptcy and ship arrest proceedings in cross-border insolvency case have aroused widespread concern of experts and scholars in shipping. China has not adopted “UNCITRAL Model Law on Cross-border Insolvency”, making the case more complicated to deal with the proceedings under jurisdiction of China. In order to deal with cross-border bankruptcy cases in China and better protect the interests of stakeholders, this paper makes a detailed analysis of the legal provisions on cross-border bankruptcy under Chinese law, and statistically analyzes the practice of Chinese courts in dealing with cross-border bankruptcy cases. Through a comparative analysis of the similarities and differences of legal provisions and practices between China and “UNCITRAL Model Law on Cross-border Insolvency” and other typical countries, this paper puts forward some suggestions and countermeasures to deal with similar cross-border bankruptcy cases under the jurisdiction of Chinese courts in the future.
Published in | International Journal of Business and Economics Research (Volume 8, Issue 6) |
DOI | 10.11648/j.ijber.20190806.18 |
Page(s) | 382-388 |
Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
Copyright |
Copyright © The Author(s), 2019. Published by Science Publishing Group |
Cross-boarder Insolvency, Model Law, Admiralty Lien, Recognition and Enforcement, Belt and Road Initiative
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APA Style
Wang Deling, Wu Changyue, Wang Yubao, Li Junfeng. (2019). Practices and Countermeasures of Cross-border Insolvency Under Chinese Law. International Journal of Business and Economics Research, 8(6), 382-388. https://doi.org/10.11648/j.ijber.20190806.18
ACS Style
Wang Deling; Wu Changyue; Wang Yubao; Li Junfeng. Practices and Countermeasures of Cross-border Insolvency Under Chinese Law. Int. J. Bus. Econ. Res. 2019, 8(6), 382-388. doi: 10.11648/j.ijber.20190806.18
AMA Style
Wang Deling, Wu Changyue, Wang Yubao, Li Junfeng. Practices and Countermeasures of Cross-border Insolvency Under Chinese Law. Int J Bus Econ Res. 2019;8(6):382-388. doi: 10.11648/j.ijber.20190806.18
@article{10.11648/j.ijber.20190806.18, author = {Wang Deling and Wu Changyue and Wang Yubao and Li Junfeng}, title = {Practices and Countermeasures of Cross-border Insolvency Under Chinese Law}, journal = {International Journal of Business and Economics Research}, volume = {8}, number = {6}, pages = {382-388}, doi = {10.11648/j.ijber.20190806.18}, url = {https://doi.org/10.11648/j.ijber.20190806.18}, eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20190806.18}, abstract = {As the globalization of economy accelerates greatly, more and more cross-border trade and investment is inevitably coming into being, resulting in many bankruptcy cases in which the relationship of creditor's rights and debts is no longer limited to the territory of a country. In recent years, the most influential case is the bankruptcy case of Hanjin Shipping. Hanjin Shipping’s bankruptcy has had a great impact on the international shipping market, the global supply chain has been interrupted, and a large number of commercial disputes have been triggered. The problems of insolvency international cooperation and the conflicts between bankruptcy and ship arrest proceedings in cross-border insolvency case have aroused widespread concern of experts and scholars in shipping. China has not adopted “UNCITRAL Model Law on Cross-border Insolvency”, making the case more complicated to deal with the proceedings under jurisdiction of China. In order to deal with cross-border bankruptcy cases in China and better protect the interests of stakeholders, this paper makes a detailed analysis of the legal provisions on cross-border bankruptcy under Chinese law, and statistically analyzes the practice of Chinese courts in dealing with cross-border bankruptcy cases. Through a comparative analysis of the similarities and differences of legal provisions and practices between China and “UNCITRAL Model Law on Cross-border Insolvency” and other typical countries, this paper puts forward some suggestions and countermeasures to deal with similar cross-border bankruptcy cases under the jurisdiction of Chinese courts in the future.}, year = {2019} }
TY - JOUR T1 - Practices and Countermeasures of Cross-border Insolvency Under Chinese Law AU - Wang Deling AU - Wu Changyue AU - Wang Yubao AU - Li Junfeng Y1 - 2019/11/15 PY - 2019 N1 - https://doi.org/10.11648/j.ijber.20190806.18 DO - 10.11648/j.ijber.20190806.18 T2 - International Journal of Business and Economics Research JF - International Journal of Business and Economics Research JO - International Journal of Business and Economics Research SP - 382 EP - 388 PB - Science Publishing Group SN - 2328-756X UR - https://doi.org/10.11648/j.ijber.20190806.18 AB - As the globalization of economy accelerates greatly, more and more cross-border trade and investment is inevitably coming into being, resulting in many bankruptcy cases in which the relationship of creditor's rights and debts is no longer limited to the territory of a country. In recent years, the most influential case is the bankruptcy case of Hanjin Shipping. Hanjin Shipping’s bankruptcy has had a great impact on the international shipping market, the global supply chain has been interrupted, and a large number of commercial disputes have been triggered. The problems of insolvency international cooperation and the conflicts between bankruptcy and ship arrest proceedings in cross-border insolvency case have aroused widespread concern of experts and scholars in shipping. China has not adopted “UNCITRAL Model Law on Cross-border Insolvency”, making the case more complicated to deal with the proceedings under jurisdiction of China. In order to deal with cross-border bankruptcy cases in China and better protect the interests of stakeholders, this paper makes a detailed analysis of the legal provisions on cross-border bankruptcy under Chinese law, and statistically analyzes the practice of Chinese courts in dealing with cross-border bankruptcy cases. Through a comparative analysis of the similarities and differences of legal provisions and practices between China and “UNCITRAL Model Law on Cross-border Insolvency” and other typical countries, this paper puts forward some suggestions and countermeasures to deal with similar cross-border bankruptcy cases under the jurisdiction of Chinese courts in the future. VL - 8 IS - 6 ER -