Abstract
In the context of the cyclical adjustment of the global economy and the optimization and upgrading of industries, cross-border bankruptcy has become a new norm in cross-border economic activities, and cross-border bankruptcy cases are increasing day by day. It is inevitable to seek judicial cooperation on cross-border bankruptcy. It is obviously an unwise approach to reject foreign bankruptcy proceedings without considering the extraterritorial effect of bankruptcy, and it will also hinder international economic and trade cooperation. The main purpose of cross-border bankruptcy judicial cooperation is to protect the legitimate rights of all parties better, avoid overlapping and conflicts between cross-border bankruptcy procedures, provide timely and effective judicial remedies, and maximize the value of bankruptcy property as much as possible. However, how to facilitate the promotion of international economic exchanges and seek a balance between protecting the interests of domestic creditors and cross-border bankruptcy judicial cooperation is a practical problem faced by the bankruptcy legal system and judicial practice of various countries.
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Notes
- 1.
See the website of the Ministry of Commerce of China: http://www.mofcom.gov.cn/article/ae/ag/201801/20180102699398.shtml (last visited Sep. 27, 2018).
- 2.
See the website of the United Nations Commission on International Trade Law: http://www.uncitral.org/uncitral/zh/commission/working_groups/5Insolvency.html (last visited Sep. 27, 2018).
- 3.
(2011) Min Si Ta Zi No. 19 Reply Letter of the Supreme Court of the People’s Republic of China.
- 4.
The Treaty Between the People’s Republic of China and Spain on Judicial Assistance in Civil and Commercial Matters, Art. 17.
- 5.
The Treaty Between the People’s Republic of China and Tunisia on Judicial Assistance in Civil and Commercial Matters, Art. 19; The Treaty Between the People’s Republic of China and Peru on Judicial Assistance in Civil and Commercial Matters, Art. 21.
- 6.
The Treaty Between the People’s Republic of China and the People’s Democratic Republic of Algeria on Judicial Assistance in Civil and Commercial Matters, Art. 21.
- 7.
All 36 bilateral treaties in force specify that “conciliation letters” fall within the scope of “awards”, and in Cyprus they are expressed as “judgments by agreement”.
- 8.
The Treaty Between the People’s Republic of China and Russian Federation on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Ukraine on Judicial Assistance in Civil and Criminal Matters, Art. 17; The Treaty Between the People’s Republic of China and Kazakhstan on Judicial Assistance in Civil and Criminal Matters, Art. 17; The Treaty Between the People’s Republic of China and Kyrgyzstan on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Tajikistan on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Vietnam on Judicial Assistance in Civil and Criminal Matters, Art. 15.
- 9.
The Treaty Between the People’s Republic of China and Russian Federation on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Kyrgyz on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Tajikistan on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Uzbekistan on Judicial Assistance in Civil and Criminal Matters, Art. 17.
- 10.
The Treaty Between the People’s Republic of China and Russian Federation on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Kyrgyz on Judicial Assistance in Civil and Criminal Matters, Art. 16; The Treaty Between the People’s Republic of China and Uzbekistan on Judicial Assistance in Civil and Criminal Matters, Art. 17.
- 11.
The Treaty Between the People’s Republic of China and Ukraine on Judicial Assistance in Civil and Criminal Matters, Art. 17.
- 12.
The Treaty Between the People’s Republic of China and the Republic of Poland on Judicial Assistance in Civil and Criminal Matters, Art. 16.
- 13.
The Treaty Between the People’s Republic of China and the Republic of Mongolia on Judicial Assistance in Civil and Criminal Matters, Art. 17.; The Treaty Between the People’s Republic of China and Romanian on Judicial Assistance in Civil and Criminal Matters, Art. 21.
- 14.
The Treaty Between the People’s Republic of China and the Republic of Belarus on Judicial Assistance in Civil and Criminal Matters, Art. 17.
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Song, J., Cheng, B. (2024). International Judicial Cooperation in Cross-Border Bankruptcy. In: Foreign-Related Commercial Disputes Resolution in China. Springer, Singapore. https://doi.org/10.1007/978-981-99-9081-8_2
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