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This article argues that China can adopt the UNCITRAL Model Law on Cross-Border Insolvency, as it is soft law that could be adopted with modifications. It is necessary for China to build a cross-border insolvency framework, based on the Model Law as it is now at the heart of the global trading and investment network. Adopting the Model Law can improve certainty, access and fairness of treatment in the Chinese bankruptcy procedure and encourage both inbound and outbound investments. In particular, such a framework will facilitate investments under the Belt and Road Initiative. This article suggests, however, that effective implementation of the Model Law will depend on judicial interpretations of the domestic courts as guided by the Supreme People's Court. [ABSTRACT FROM AUTHOR]

Minority shareholders in large companies, particularly where there is a majority/controlling shareholder, can be in a vulnerable position as they are not likely to be able to have much influence in the company or how its affairs are conducted. The position in which minority shareholders find themselves has caused many governments to provide protection in some form or another for minority shareholders. There are various corporate law or corporate governance mechanisms that have been embraced, one being a provision that allows shareholders to seek relief from the courts where oppression exists. China does not have a dedicated provision that gives minority shareholders such an action. This paper examines what China's company law does offer shareholders by way of protection through direct action and focuses on whether the UK's oppression provision, which has existed since 1948, (or elements of it) could be used in the Chinese context. An important contribution of the paper is that it identifies Chinese cases decided since 2012 in which shareholders have brought claims in situations where oppression was, effectively, alleged. [ABSTRACT FROM AUTHOR]

The article evaluates the bankruptcy law of China, the Enterprise Bankruptcy Law (EBL) and also suggests the reforms made in these laws. Topics discussed include the flaws present in the provisions of the bankruptcy laws of China, role of interference of the Chinese Government in the resolution of bankruptcy cases and the laws made for regulating the losses of the state-owned enterprises (SOEs).

Following in the steps of the USA and UK, China introduced partnerships with limited liability in 2006, the same year that a market-oriented bankruptcy statute was enacted. Although the bankruptcy statute enshrines basic elements of modern bankruptcy law, it fails to stipulate specific rules for partnership bankruptcy. As partnership with limited liability acquires increasing importance, especially limited partnerships as a popular form of private equity firms, a partnership bankruptcy regime becomes indispensable. This article considers the experience of the UK and USA in order to make proposals to establish a partnership bankruptcy regime in China. Although partnership bankruptcy law can be formulated by analogy to corporate bankruptcy law, special considerations must be given to the characteristics of partnership such as unlimited liability and lack of separation of management from ownership. Further, as partnership bankruptcy may lead to partner bankruptcy and vice versa, conflicts between partnership creditors and partners' personal creditors must also be considered. Copyright © 2014 INSOL International and John Wiley & Sons, Ltd [ABSTRACT FROM AUTHOR]