There has been a slew of news on the internet telling layoff stories in big companies. The other day, it is AMD, the chip manufacturer, that was to slash 15% of its manpower throughout the globe. Today, the leading Chinese wind power company, SinoVel, sent dozens of its employees back home for "long vacation", sparking anger among its staff. These are big names.…
Amid global financial crisis, China is not a safe harbor. Many foreign invested companies in China are hit seriously and some of them are definitely considering winding up their business or are compelled to do so.
Here are some basic ideas about closing a Chinese company.
I. Dissolution, Liquidation and Deregistration
In the course of winding up your China…
With Chinese people getting rich (to some extent this can be true) and starting emerging as tourists all over the world, China's travel industry has been appealing to international investors.
We have been inquired frequently by foreign travel agencies about setting up their business presence in China. Very often, these foreign investors want to set up a travel…
This is a just a reminder to foreigners who may issue a power of attorney to their Chinese agents in dealing with affairs in China.
In the course of advising a few American three individual clients on their inheritance of a Chinese real property, I realized that it is worth a brief post on the blog.
Among the three inheritors, one of them has authorized the other two…
A power of attorney, POA, is used widely in any jurisdiction in many circumstances where one individual entrust another individual to speak and act in his name or on his behalf and protect their best interests.
As I represent foreign clients in most cases, clients often raise the issue of revocability of power of attorney they are going to grant to me. Recently,…