The group economy is derived from the market-oriented and large-scale development of the modern economy. However, any debt problem in a group economy is more likely to cause widespread and systemic risks amid continued macroeconomic downturn, oversupply and liquidity crises faced by pillar industries. The future reform of the substantive consolidated bankruptcy system is worthy of attention and expectation.
As of late, Llinks partner Ms. Amy Ren, Llinks contractual partner Mr. Shawn Xu and associate Mr. Jiaxin Ren were invited to write an article for the China Business Law Journal (CBLJ), reviewing the existing judicial practice on substantive consolidation in bankruptcy, and analysing the revision and local regulations as well as the addition of rules in this regard.
For the full article, see the December 2023 / January 2024 issue of CBLJ.
