Upon bankrupting problem occurred, the foreign-invested enterprise shall refer to local experts

Updated: Mar 21, 2018 english.legalinfo.gov.cn Print

As special justice proceedings to end debt dispute, bankrupting is quite complicated, and different country stipulates differently. No matter the debtor falls in bankrupt proceedings negatively or as a creditor to participate positively in the bankrupt proceedings, it is difficult for them to understand the Chinese bankrupt system. It is advised that they shall resort to local lawyers, accountants, etc. to employ these experts as agents or advisors to intervene in bankrupt proceedings, so that these experts will propose for the foreigner’s interests in proceedings. Compared with heavy economic damage, it is quite worthwhile paying some remuneration to such economic professionals.

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