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Clifford Chance

Clifford Chance

Briefings

Impact of amendments to the Bankruptcy Law on automatic early termination and insolvency events of default

2 September 2015

The new restructuring law of 15 May 2015 (the "Restructuring Law") will enter into force on 1 January 2016. The Restructuring Law introduces new restructuring procedures, allowing the restructuring of a debtor's business and avoiding its liquidation. It also introduces major amendments to the Bankruptcy and Recovery Proceedings Law of 28 February 2003 (the "Bankruptcy Law").

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