In relation to the Enterprises Bankruptcy Law of China, state the legal effect of the acceptance of an application for bankruptcy by the court:
(b) in terms of the enforcement procedure against the relevant 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 the people’s court, the relevant enforcement procedures shall be suspended. The enforcement procedures include the enforcement of civil judgements, conciliation documents and arbitral awards, etc. Creditors may, based on the effective legal documents after the suspension of the enforcement procedures, claim their credits to the relevant people’s court accepting the application for bankruptcy.