Is it the structure? Chinese onshore bankruptcies and offshore bond default
Shanghai, China (Credit: iStock.com/Bamboome)
Recent harsh results in the onshore bankruptcies of Chinese operating subsidiaries belonging to offshore holding companies have led to market speculation that the fault lies with the PRC's insolvency system. Mark Fucci and Naomi Moore, partners at Akin Gump Strauss Hauer & Feld in Hong Kong, consider whether this is correct.
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