Source: Key points of case judgment from "Gazette of the PRC Supreme People's Court" Volume 2022

Case Judgment Opinions Summary:

Article 8 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of the Enterprise Bankruptcy Law of the People's Republic of China (III) stipulates that the 15-day period is a guiding provision with adverse consequences. The purpose is to urge the dissenters to claim their rights in a timely manner and improve the efficiency of bankruptcy proceedings, not the period of prosecution, limitation of action or exclusion. After the expiration of the 15-day period, the bankruptcy proceedings will continue according to the results verified by the creditors' meeting and confirmed by the people's court. The adverse consequences arising from the exercise of voting rights and property distribution of the dissenter will be borne by the dissenter itself, but will not lead to the legal consequences of the elimination of the dissenter's substantive rights or litigation rights.