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Bankruptcy of state enterprises in China : a case and agenda for reforming the insolvency system (English)

The study concentrates on the bankruptcy of state owned enterprises (SOEs) in China . If finds, first, that their bankruptcy process is unfriendly to creditors and hardly an effective "stick" to motivate enterprise performance. Creditors have little influence on the process, are treated inconsistently, and suffer violation of their secured claims for the sake of settling affected workers. Creditor banks commonly recover only 3-10 percent of their...
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Bankruptcy of state enterprises in China : a case and agenda for reforming the insolvency system (English). Washington, DC: World Bank. http://documents.worldbank.org/curated/en/167691468024327448

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