Theoretical and legal issues of China’s cross-border insolvency

Kulazhina Anastasia Olegovna

The article is devoted to the analysis of theoretical and legal approaches to the regulation of cross-border bankruptcy. The national legislation of individual states must address at least three major legal issues in order to create a functioning system for regulating cross-border insolvency. These issues are: rules for choosing the applicable law, rules for determining jurisdiction, and rules for the recognition and enforcement of foreign judgments in insolvency matters. In this regard, it is necessary to consider the existing approaches to address the problems associated with cross-border insolvency in the systems of mainland China, Hong Kong and Macau. To do this, the author analyzes the legislation of mainland China on cross-border bankruptcy.

Keywords: cross-border insolvency, special administrative regions, Mainland Chinese Enterprise Bankruptcy Law, Hong Kong bankruptcy system.