作者：徐萍 金杜律师事务所公司证券部
从境外破产或濒临破产的企业手中收购困境资产（distressed assets）已成为近几年中国企业境外投资的热点。尤其是自2007年全球经济危机以及之后爆发的欧债危机以来，欧美大量企业面临业绩大幅下滑、财务陷入危机甚至濒临破产。这为中国企业提供了跨境并购的良好契机，以低廉的价格收购财务困境资产或企业。
一般而言，在债务人不能偿付到期债务，或者债务人资产不足以清偿债务时，各国法律允许债权人申请债务人破产，或由债务人主动申请破产，通过对债务人实施破产重组计划，使破产企业继续经营，或者清算债务人的资产以偿还债务并解散破产企业。通过破产程序收购的资产不仅价格低廉，而且经过破产程序通常可以有效隔断目标企业的历史债务以及或有风险。
取决于相关国家的破产法规定，并购破产或濒临破产的企业，通常有以下特点。
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作者：谢元勋 金杜律师事务所公司证券部
为什么会关注医药企业商业贿赂问题？医药购销领域的商业贿赂是指在医药购销和医疗卫生服务活动中，经营者在销售或者购买医药产品，或者提供和接受盈利性服务过程中，以争取交易为目的，采用财务或者其他手段贿赂其他单位或个人，或者经营者和其他单位或个人索取或者收受贿赂而违背职权为他人谋取利益，以及向与医药购销和医疗卫生服务活动有关的国家工作人员介绍贿赂的行为。除了具备商业贿赂的一般特点外，由于医药购销领域的特殊性，其还具有以下两方面的特征：（1）商业贿赂的对象多为政府部门工作人员、医疗机构及其工作人员；（2）商业贿赂的主要表现为回扣、礼品礼金、报销/承担各种费用。
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By King & Wood Mallesons
China is already the largest recipient of foreign direct investment. However, as China continues to open up its markets, there are significant opportunities for ambitious clients to access China’s growth story. As the premier law firm in China, KWM is perfectly positioned to assist clients with their China strategy. This is why China Inbound is one of our three core BD priorities. To support our BD program for China inbound opportunities, we have launched an updated version of our Doing Business in China report which analyses the:
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作者：金杜律师事务所
中国已是全球最大的外商直接投资目的国。随着中国继续开放市场，有远大目标的客户将迎来众多参与中国发展的机遇。作为中国顶级律所，金杜拥有绝佳的定位，能为客户的中国战略提供帮助，这也是我们将对华投资业务作为三大核心业务开发重点之一的原因。为支持对华投资业务拓展更多业务机会的开发项目，我们特此推出《在中国做生意》出版物的更新版，重点分析如下问题：
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By Stephen Kon King & Wood Mallesons’ London Office
The EU is the biggest market in the world, with a population of over 500 million people. For the UK, it represents 44 per cent of the country’s exports, while half of overseas investment to the UK comes from the EU. But the union is also flawed, and even proponents argue that it is in need of reform.
As voters gear up for a referendum on continued EU membership – “the biggest macro decision” they will make in their lifetime – King & Wood Mallesons joined forces with The Spectator for the second in a series of podcasts.
In this episode, we discussed the Brexit question – and its impact for business.
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作者：Stephen Kon 金杜律师事务所伦敦办公室
作为世界最大市场，欧盟人口超过五亿，占英国出口总额的44%。 但是欧盟并非无懈可击，即便是欧盟支持者也觉得改革在所难免。英国退欧还是继续的全民投票近在咫尺 ——在选民需要做出“最重要的宏观决定”的重要时刻——金杜和《旁观者报》联手献上连载有声杂志的第二期。
本期有声杂志（英文）的讨论主题为英国退欧相关问题及利弊。（由于访问限制，位于中国的访客将无法收听此有声杂志，请您阅读以下音频文字实录。）
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By Stephen Johnson King & Wood Mallesons’ Dispute Resolution Group
Traditionally, Chinese companies could avoid engaging in international arbitration because it was difficult to enforce international awards in China. However, the enforcement of international awards in China has greatly improved in recent years. This is in part due to the reporting system implemented by the Supreme People’s Court of China, which mandates that no international awards can be refused enforcement unless approved by the Supreme People’s Court. Accordingly, as Chinese companies are increasingly going abroad and engaging in business with foreign companies, they need to be better prepared when disputes arise.
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作者：Stephen Johnson 金杜律师事务所争议解决部
过去，中国公司会避免参与国际仲裁，因为国际仲裁裁决难以在中国执行。然而，近年来国际仲裁裁决在中国的执行情况有了很大改善。这一定程度上得益于中国最高人民法院实施的报告制度，该制度规定除非经最高人民法院批准，否则不得拒绝执行国际仲裁裁决。因此，随着越来越多的中国公司走向海外并与外国公司展开生意往来，当发生争议的时候，中国公司需要做好更充分的准备。
有观念认为中国公司通常无法在国际仲裁中取得成功。虽然事实往往并非如此，但由于文化、商业和法律习惯的不同，中国公司在国际仲裁中的确会面临一些障碍。本文将对可能导致该现象的原因进行分析，比如未在早期聘请法律顾问、未掌握适当证据、对国际仲裁程序不熟悉等等。同时，本文将提出若干解决方法，以便使中国公司在国际仲裁中占据更有利地位，从而取得成功。
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By Linda Liang Hongchuan Li King & Wood Mallesons’ Commercila & Rehulatory Group
Article 27 of Interim Provisions on Labor Dispatch stipulates that “where an employer uses workers in the form of Labor Dispatch under the name of hire of work, outsourcing, etc., the provisions hereof will apply.” The so-called concept of “de facto labor dispatch” is derived from this article. There isn’t a definitive line in distinguishing outsourcing and labor dispatch in practice. Certain local regulations in Shanghai and Jiangsu do provide guidance, but not enough to be conclusive. It is imperative that we append supplemental materials in judicial documents after proper review.
Referencing 28 relevant cases, this article summarizes the key factors surrounding “de facto labor dispatch” by presenting statistics and corresponding analysis.
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