Provisions (III) of the Supreme People's Court on Several Issues concerning the Application of the Enterprise Bankruptcy Law of the People's Republic of China (“Provisions (III) ”) has become effective on 28 Mar.2019
In judicial practice, there are many doubts on the application of the “Enterprise Bankruptcy Law” in dealing with creditors’ rights and other issues, while hearing a bankruptcy case. In order to clarify some of those doubts, Provisions (III) as adopted at the 1762th meeting of the Judicial Committee of the Supreme People’s Court on 25 Feb. 2019, and has become effective on 28 Mar.2019. The main contents include: 1. For the common credits and the credits for the purpose of continuing operations during the bankruptcy proceeding, the later shall be prevail Article 2 of Provisions (III) prescribes that for the…