International Workshop on “Reform and Improvement of Bankruptcy Reorganisation System in China”
Visits: 0 Date: 12/10/2018

 

 

The People’s Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) entrusted the Bankruptcy Law and Restructuring Research Center (BLRRC) of the China University of Political Science and Law and Integrity Financial Consulting to organize a high-level and small scale international workshop based on the study results of the research projects on “reform and improve the regulation of bankruptcy and restructure”. The Workshop was funded and co-organised by the Cairncross Foundation. The purpose of the workshop was to share international experience based on the actual context of China to recommend to policy makers measures to reform and improve the regulation of bankruptcy and restructure in China, and to promote effective implementation of the regulation of company bankruptcy and restructuring which can promote China’s economic restructuring.

 

The Workshop was attended by senior officials from PBOC, CBIRC and the Finance and Economic Committee of the National People’s Congress. Presentations were made by: senior PBOC and CBIRC officials; Li Shuguang (BLRRC) on China current system and practices; James Spayregen (Kirkland & Ellis LLP) on theories and practice of the DIP model in the reorganisation process in the US; Charles J. Tabb (University of Illinois) on the Cram Down Rule in the US Bankruptcy Code; Jose Garrido (Legal Department, IMF) on international experiences; Weimin Chen and William Hardie (Houlihan Lokey) on case studies of reorganisation; and Madame Xu Meizheng (Beijing Integrity Consulting Company; formerly a senior official of the State Commission for Restructuring the Economic System under the State Council) on issues in China’s current system and recommendations for reform. The results and recommendations of the workshop were submitted to PBOC, CBIRC and other relevant government departments.