[Hardcore Book List]learn the Fa. Understand the Fa. Love the FaThis law is formulated to standardize enterprise bankruptcy procedures, fairly settle claims and debts, protect the legitimate rights and interests of creditors and debtors, and maintain the order of the socialist market economy.
The "Enterprise Bankruptcy Law" was adopted by the 23rd Session of the Standing Committee of the Tenth National People's Congress on August 27, 2006, and is hereby promulgated and will come into effect on June 1, 2007.
