Abstract

Bankruptcy is a final stage where a market subject exits the market due to its business failure. From a court’s point of view, a bankruptcy law is actually the procedural and substantive law applied by the court while liquidating debtors. Courts pay great attention to the legislation and reform of bankruptcy laws. The Supreme People’s Court of China participated actively in the formulation of the Enterprise Bankruptcy Law and uses its practical experience to perfect the current bankruptcy system by adopting methods of judicial interpretation and case guidance.

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