The U.S. Department of Commerce, and China’s Ministry of Commerce (MOFCOM) and State Council Legislative Affairs Office (SCLAO), will co-host the 21st U.S.-China Legal Exchange on the topic of U.S. bankruptcy law. The Legal Exchange will take place on December 13 at Renmin University of China Law School in Beijing and on December 15 at the KoGuan Law School at Jiao Tong University in Shanghai.  

This year’s Legal Exchange comes as the Presidents of both China and the United States have recognized the importance of the establishment and improvement of impartial bankruptcy systems and mechanisms: in September 2016, our countries committed to conduct regular and ad hoc communication and exchanges regarding the implementation of our respective bankruptcy laws through forums or mutual visits. The Legal Exchange begins our work to fulfill this commitment, by bringing together top legal experts of both countries to discuss the U.S. bankruptcy law system, including complex corporate reorganizations, judicial perspectives on bankruptcy, the role of the U.S. Trustee Program, and special issues relating to specific industries. With these topics, our two countries seek to generate important conversations among top experts about both their experiences and ways to address challenges posed by companies in struggling sectors, such as restructuring, liquidation, bankruptcy administrator systems, and special bankruptcy tribunals.

General Counsel Kelly R. Welsh will lead the U.S. delegation of academic, government, and private sector experts in bankruptcy issues, including: the Honorable Robert Drain, Judge at the U.S. Bankruptcy Court of the Southern District of New York; Ramona Elliott, General Counsel of the U.S. Trustee Program, U.S. Department of Justice; Professor Charles Tabb, University of Illinois College of Law; James Sprayregen, Partner, Kirkland & Ellis, Corinne Ball, Partner, Jones Day, and Josef Athanas, Partner, Latham & Watkins. China’s Vice Minister of Commerce Zhang Xiangchen and SCLAO Deputy Director Gan Zangchun will lead the Chinese side. China’s legal experts, to include senior members of the judiciary, will provide responses to U.S. presentations and engage in dialogue with the U.S. experts.

About the Legal Exchange

Under the U.S.-China Joint Commission on Commerce and Trade (JCCT) Commercial Law Working Group, the U.S. Department of Commerce’s Office of General Counsel leads engagement with China’s Ministry of Commerce (MOFCOM) to promote understanding and cooperation on issues related to commercial rule of law. Since the mid-1980’s, the Commerce General Counsel and China’s Vice Minister of Commerce have co-led the U.S.-China Legal Exchange, a unique forum in which China and the United States bring their legal experts to the other country to present to public audiences on new and important developments in the commercial legal and regulatory landscape. This meeting has taken place almost every year and continues to be an important means to build bilateral understanding on legal topics relevant to business in each country.