Interview with Mr. Nicolas COSTER by DAXUE Consulting regarding
Learn the bankruptcy procedures in China
Please click on the following link for the Podcast:
https://mp.weixin.qq.com/s/szwjiyt2M7Qx4b0HKzZzPg
In this China business vlog, Nicolas Coster, a French business lawyer, talks about the nuances that businesses face when closing a company in China.
Five Key Takeaways
1. It is required to apply to the tribunal to file a lawsuit to start the procedure for bankruptcy. So, any third party to which the company owes some money is able to go to the court and apply for bankruptcy.
2. It could be a long process, if you go to a 1-tie city it is possible to close the bankruptcy within six months to twelve months. But if you go to smaller cities, it can last for up to 5 years.
3. For a limited company, the risk for the investor depends if they pay or they didn't pay the registered capital.
4. As for the intangible asset, the liquidator will probably sell them and an auction will be organized; so, some party will be able to buy the intangible asset.
COSTER ASSOCIATES很高兴地宣布，Nicolas COSTER先生，巴黎协会注册律师，近日被上海国际经济贸易仲裁委员会（英文简写为"SHIAC"）聘任为仲裁员、调解员，任期3年。他也因此成为SHIAC现任的第二位外籍调解员。这一聘任也是对COSTER ASSOCIATES律所在处理国内和国际仲裁案件的专业能力的肯定。
上海国际经济贸易仲裁委员会受理案件包罗种类广，案件当事人遍及全球，仲裁服务高效、灵活、公正，是中国首屈一指的受理商事争议的仲裁机构。
