China's New Bankruptcy Laws: Not Quite So Good For Business

Last month, I posted on China's new bankruptcy laws, scheduled for a June, 2007, enactment. That post was entitled, "China's New Bankruptcy Laws: Good For Business," because it looked like China would soon have a comprehensive bankruptcy code that would facilitate lending and collection. The new law will put creditors before employees and my post talked about how the law was being delayed until June, 2007, so China's state owned enterprises (SOEs) could file for bankruptcy before June, 2007, to avoid coming within the new provisions.