Corporate Reorganisations in China An Empirical Analysis

The first comprehensive empirical study on corporate bankruptcy reorganizations in the second largest economy, China, investigating the formal corporate restructurings handled by China's courts between 2007 and 2015. The data and analysis presented in the book provide a unique lens from which China's newly-enacted Chapter 11-styled corporate reorganization law, both in the books and in practice, can be understood and from which the interaction between business and state in dealing with corporate bankruptcies in China could be better comprehended. This book benefits from the author's ten-year business law practice in China, and his insights on China's judicial and political system considerably enrich the arguments. In particular, this book sheds light on commencement of bankruptcy reorganizations, control models, corporate reorganization financing, value distribution, approval of reorganization plans and cross-border reorganizations under the China Enterprise Bankruptcy Law of 2006.

1. Introduction; 2. Commencement of corporate reorganizations in China; 3. Control of Chinese corporate reorganizations; 4. Corporate reorganization financing in China; 5. Value creation and distribution in Chinese corporate reorganizations; 6. Approval of corporate reorganization plans in China; 7. Cross-border corporate reorganizations in China; 8. Conclusion.

Zinian Zhang is currently a lecturer of business law at School of Law, University of Leeds, teaching insolvency, company and finance law and supervising Ph.D. students. His research interest focuses on corporate bankruptcy law. Prior to entering into academia, Zhang practised law for a decade mainly in commercial and financial areas in Zhejiang Province, the heartland of China's private economy. He once served, for two terms, as a member of the Chinese People's Political Consultative Conference, the upper house of the parliament, in Hangzhou, the capital city of Zhejiang Province, before embarking on his long study journey in England.