Supreme People's Court, Provisions for the Appointment of Administrators for Trials of Enterprise Bankruptcies

The people's court may deem a social intermediary or member of the liquidation committee an interested party, as specified in Item (3) of the third paragraph of Article 24 of the Enterprise Bankruptcy Law, if it is: (1) a party that has unsettled claims and debts towards the debtor or creditor; (2) a party that has provided relatively stable intermediary services for the debtor within the three years prior to the acceptance of the bankruptcy petition by the people's court; (3) a party that is or was the controlling shareholder or de facto controller of the debtor or creditor within the three years prior to the acceptance of the bankruptcy application by the people's court; or (4) a party that is or was the financial advisor or legal counsel of the debtor or creditor within the three years prior to the acceptance of the bankruptcy petition by the people's court (Article 23). Personnel dispatched by a member of the liquidation committee or social intermediary, or an individual administrator may be deemed an interested party specified in Item (3) of the third paragraph of Article 24 of the Enterprise Bankruptcy Law if it (1) falls within the circumstances stipulated in Article 23 of these Provisions; (2) is or was the director, supervisor or senior management personnel of the debtor or creditor within the three years prior to the acceptance of the bankruptcy petition by the people's court; or (3) is the spouse, direct blood relative, collateral relative by blood within three generations, or close family member by marriage of the controlling shareholder, director, supervisor or senior management personnel of the debtor or creditor (Article 24).