In relation to the Enterprises Bankruptcy Law of China, state the legal effect of the acceptance of an application for bankruptcy by the court:
(a) in terms of the preservative measures against the assets of the debtor; (4 marks)
参考答案:In accordance with Article AI of the Enterprise Bankruptcy Law, where an application for bankruptcy is accepted by a people’s court, the relevant preservative measures against the debtor’s assets shall be dissolved. These measures include preservative measures during a civil litigation and preservative measures prior to a civil procedure. The relevant debtor’s assets shall be listed as the bankrupt assets after the releasing of the preservative measures.