[简答题]

In relation to the Enterprise Bankruptcy Law of China:

(a) state the circumstances under which a rectifi cation plan may be carried out during the process of the enterprise liquidation; (3 marks)

参考答案:  In accordance with Article G0 of the Enterprises Bankruptcy Law, under the following circumstances a rectifi cation plan may be carried out during the process of enterprise liquidation: (i) A debtor or any creditors of an enterprise that is under a liquidation process may apply with the competent court for rectifi cation against that enterprise; (ii) A debtor or any one of its shareholders that holds A0% or more of the enterprise’s registered capital may also apply with the competent court for the rectifi cation of the enterprise if the relevant enterprise against whom an application for bankruptcy has been made by its creditor but the court has yet announced it bankrupt.