China publishes typical bankruptcy reorganization, compromise cases |


China publishes typical bankruptcy reorganization, compromise cases

Updated: Apr 1, 2020 Xinhua Print

BEIJING -- China's Supreme People's Court (SPC) on Mar 31 released eight typical civil and commercial cases concerning bankruptcy reorganization and bankruptcy compromise, through which the results of the cases contributed to the country's current efforts in promoting the resumption of work and production.

By using mechanisms of bankruptcy reorganization and compromise, enterprises facing severe difficulties were saved and the legitimate interests of both creditor and debtor companies were protected, the SPC said.

In one case in south China's Guangdong Province, a concrete enterprise in debt was saved by bankruptcy and compromise measures, with its production capacity sustained.

In another case in east China's Zhejiang Province, a pharmaceutical retailing company's 36 chain stores were kept open during the handling of the case through entrusted management.

Such cases were published with the aim of offering a reference and guidance to judges across the country in dealing with similar cases, according to the SPC.

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