The Recognition And Dispute Settlement Of Extraterritorial Bankruptcy Of Chinese Enterprise

In2008, Xinzhou group is forced to go bankrupt in Russia. Xinzhougroup has been exploring approach settlement of disputes of all kinds inRussia the locality subsequently. This case like the taizinai group bankruptcyin2009, is a special cross-border insolvency cases. How does the behaviorforcing to go bankrupt to Russia determine the nature? Does our countrydeclare admitting extraterritorial bankruptcy announcement? How to solveExtraterritorial bankruptcy disputes? According to this logic sequence, thispaper first analyzes the maximum risk existing in the current Chineseenterprises overseas investment is political risk in developing countries,Followed by an analysis of China’s overseas direct investment enterprisesdeclared bankrupt types into a property available for enforcement at homeand abroad has no property available for enforcement of two in abroad. Forthe former, the legislation of our country stipulates the conditions that. Forthe latter, it generally does not exist problems of the recognition andenforcement of the country. Xinzhou belongs to the latter. Then the paperdemonstrates the Russian local declaration of bankruptcy act is invalid, itsbehavior is the essence of indirect expropriation, can be relieved by ICSIDarbitration. Then, based on the comparison of several main currentinstitutional arbitration and ad hoc arbitration in international arbitration,and the fact description that Chinese have been changed from the capitalimporting country to capital export country, the Chinese enterprises overseasbankruptcy preferred ICSID arbitration.