Article 8. The debtor, upon the agreement of its superior departments in charge, may apply for the declaration of bankruptcy.

第八条债务人经其上级主管部门同意后，可以申请宣告破产。

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Slowly but surely, however, bankruptcy law has changed in favour of the corporate debtor.

不过，可以肯定破产法正缓慢地朝有利于公司债务人的方向变化。

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Bankruptcy affords the debtor in possession a number of mechanisms to restructure its business.

破产法为持产负债人提供很多机制来重组他们的企业。

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Citing the well-established principle that the trustee stood in the shoes of the debtor, the bankruptcy judge agreed with the victims, noting that the trustee had argued that the schemer had committed securities fraud under Alaska securities statutes.

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The AiB said that the drop between July to September was "mostly attributable to a fall in the number of awards of bankruptcy by debtor application".

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Work is now in hand which should make emerging-market defaults more manageable in the future, by a system of bankruptcy proceedings which would enable a debtor to negotiate with its creditors and restructure its debts once a majority of them agree.

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