How Does a Chinese Enterprise File Bankruptcy for Itself?

If a debtor files an application for bankruptcy, it shall submit the following materials to the court:

1. A Bankruptcy Application, specifying the basic information of the applicant, the purpose of application, the type of application, and the facts and causes of application;

2. The eligibility certificate of the debtor;

3. Materials related to the employees of the debtor;

4. The debtor’s balance sheet, asset valuation report or audit report;

5. A detailed asset statement of the debtor as of the date of bankruptcy application;

6. Materials related to the creditor’s rights of the debtor;

7. The litigation, arbitration to which the debtor is a party and the relevant legal documents;

8. If the debtor is a wholly state-owned or state-owned holding company, it shall also submit the documents proving that the state investor agrees with the bankruptcy application and the opinions of the enterprise’s trade union or workers’ congress on the enterprise’s bankruptcy application;

9. Other materials deemed necessary by the court.

Where the debtor applies for reorganization, the following materials shall also be submitted:

1. Documents proving that the debtor’s shareholders’ meeting, board of directors, supervising departments or investors agree with the reorganization;

2. The analysis report and supporting documents indicating the reorganization feasibility of the debtor;

3. The feasibility report or the reorganization scheme of the debtor’s reorganization.

---

Do you need support in cross-border trade and debt collection?
CJO Global's team can provide you with China-related cross-border trade risk management and debt collection services, including: 
(1) Trade Dispute Resolution
(2) Debt Collection
(3) Judgments and Awards Collection
(4) Anti-Counterfeiting & IP Protection
(5) Company Verification and Due Diligence
(6) Trade Contract Drafting and Review
If you need our services, or if you wish to share your story, you can contact our Client Manager: 
Susan Li (susan.li@yuanddu.com).
If you want to know more about CJO Global, please click here.
If you want to know more about CJO Global services, please click here.
If you wish to read more CJO Global posts, please click here.

---

Photo by octopus owl on Unsplash