Highlights:
- Investors, lawyers air concern over risks in China’s bankruptcy process
- China bankruptcies are rising amid economic slowdown, property slump
- Chuming case raises investor concern over enforcement of bankruptcy laws
- Chuming, judicial authorities did not respond to questions about its bankruptcy
When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill.
The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a US-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork to Walmart , and had been profitable at least as recently as 2016.
