Background
India, Insolvency & Restructuring, Khaitan & Co, Limited liability partnership, Liquidation, Liquidator (law), Companies Act 2013 (India)
Background
An insolvent enterprise incorporated in Mainland China (“PRC”) or its creditors (“Applicant”) may institute a bankruptcy proceeding against the insolvent enterprise under the PRC Enterprise Bankruptcy Law (“Bankruptcy Law”) by the filing of a bankruptcy petition. There have long been complaints by industry practitioners that PRC courts are reluctant to register bankruptcy petitions.