law - Companies sue PBOC on bankruptcy case

Forty Chinese companies have file a suit against the People's Bank of China (PBOC), accusing it of administrative misconduct in the collapse of the China Venturetech, back in 1998, reports the Financial Times. The suit was filed at a Beijing court in January.
The high-profile venture capital firm was closely connected to the Deng-clan and could only be taken out of circulation after former leader Deng Xiaoping died. China Venturetech was involved in many deal involving both foreign and domestic companies. The forty companies say they were wrongly excluded from the process of winding up the firm.
Remarkable is that an entity of the central government has been suit. Until very recently suing the government, and certainly the central government, was not done, despite all the efforts to develop a legal system in China.