Research On Consummating Chinese Cross-border Insolvency Law

Cross-border insolvency will involve at least two countries, so it is different from domestic bankruptcy case, it is not only involving sovereign interests, but also about conflict laws of the countries who participated in economic globalization.For the overall structure, this thesis consists of three parts as follows: introduction, main body and conclusion.The Introduction pointed out investment activities of multinational enterprises become more frequent. China as an integral economic part of globalization is also facing the problem of cross-border insolvency, but the legal system is not perfect. The Chinese existing legislation needs to be perfected with regards to the cross-border bankruptcy cases which have brought about confusion to the judicial practice. It is of great importance to strengthen the study on legal matters related to cross-border bankruptcy cases.The main body is divided into three chapters:Chapter one expatiates on basic theories in cross-border insolvency, involving: the meaning and legal characteristic of cross-border insolvency; the effect of insolvency declaration: universalism and territorialism; the jurisdiction and applicable law in cross-border insolvency case.Chapter two expatiates on European Insolvency Regulation, involving: the object and content of the Regulation; evaluation of the Regulation from positive and negative aspects, especially the problems in the present Regulation; the ongoing amendment of the Regulation.Chapter three explores inter-linkages and differences between EU Regulation and UNCITRAL Model Law, and specifically analyzes EU Regulations amendment to show it represents the latest trend of legal development in cross-border insolvency area.Chapter four expatiates on cross-border insolvency in China, involving: the brief introduction of current China enterprise bankruptcy law. The future perfection of China cross-border insolvency law, in the aspects of: jurisdiction, applicable law, coordination and cooperation of insolvency proceedings, recognition foreign proceeding and judgment, and facing enterprise group insolvency phenomenon. The EU approach to the legislation of China for reference is emphatically analyzed in this part. This part also suggest an inter-regional legal framework for cross-border insolvency should be created inside China between different legal systems.The conclusion sums up the basic viewpoints of this thesis. Although cross-border insolvency involves complicated legal problems, it has become an obvious trend to carry out maximum international cooperation to conduct efficient and effective proceedings. China as an economic power, in the case of bankruptcy is becoming more international, it has to speed up the pace to improve cross-border insolvency legislation which is in line with international practice.