University of Leicester
2008zhanghphd.pdf (1.93 MB)

Making an efficient and well functioning corporate rescue system in Chinese bankruptcy laws: from the perspective of a comparative study between England and China.

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posted on 2009-01-21, 10:13 authored by Haizheng Zhang
This research aims at identifying the inadequacies and weaknesses of the current Chinese corporate rescue laws by doing a comparison between England and China, and learning from the advanced experience and legal institutions of the English rescue laws. The study commences with a conceptual approach to the legal concept of corporate rescue, which considers the corporate rescue culture from a theoretical perspective and provides a necessary preparation for the following comparative analysis. It then identifies the underlying factors in relation to the bankruptcy and rescue laws of the two states from several aspects: different cultures and ideologies, historical development of bankruptcy legislation, internal economic reform and external pressure prompting the Chinese insolvency law reforms. The exploration of particular contextual factors enables the differences of rescue laws in each legal system to be appreciated on the one hand; and to a large degree determines whether or not China could borrow the advanced rescueoriented mechanisms and policies from the UK on the other hand. Subsequently, the thesis makes a comprehensive comparison of the formal corporate rescue regimes, identifies the philosophy and policy aims underlying the legal rules, and analyses the balance and control of power of all the stakeholders and the redistribution of bargaining power of every player in each rescue network. The consideration of the balance of the power of each interested group in a rescue attempt aims to resolve a key issue as to how to design the rules to bring all the interested parties to the negotiation table and approve a reorganization plan. The study attempts to explore the potential problems in China’s corporate rescue laws, envisage future trends and come up with some appropriate solutions which may facilitate the construction of an effective and efficient corporate rescue system in China’s bankruptcy legal framework.



Graham, Cosmo

Date of award


Awarding institution

University of Leicester

Qualification level

  • Doctoral

Qualification name

  • PhD



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