A Study On Bankruptcy Procedure Law System

A Study on Bankruptcy procedure Law System contains 12 chapters with 310,000 words. The main topic is focused on the study of bankruptcy proceedings. It also concerns the substantial system of bankruptcy.The bankruptcy law system is a perfect combination of the bankruptcy proceedings and the substantial system. However, as the bankruptcy proceedings constitutes the main body of the contents, consequently, the bankruptcy law system is in fact, to some extent, a bankruptcy proceedings system which has a independent status in the procedural law system.At the present age, besides the traditional liquidation system, the bankruptcy system includes the bankruptcy conciliation system and the bankruptcy reorganization system, etc. Its objective has been evoluated from the simple liquidation to the mutiple objectives such as to protect the creditor, to defend the debtor and to attach importance to the social interests, which reflects sufficiently the progress traits of the human social civilization. Meanwhile, the nature of bankruptcy has been changed from guilty to non-guilty. Nevertheless, the crimes made during the bankruptcy proceedings should be punished. This is the demand not only due to the special prevention but also to the general social prevention.In 1986, the issue and the application of the bankruptcy law is a great event in the history of the socialist law in China. However, due to the special background at that time, the bankruptcy law had many defaults and suffered many a setback. It has almost been replaced by the administrative regulation. China is now revising the bankruptcy law which makes up greatly the insufficiency of the exsiting law through learning from the success experiences from foreign countries. Like other law procedures, the bankruptcy proceedings pursues the procedure justice and interests as its basic values, which turns to be more externalization. Currently, most part of the countries in the world exercises the general bankruptcy. Everyone has the capability of bankruptcy. The general reason for bankruptcy is incapable to pay off the debts. However, under certain conditions, the excess of debts can also result in the bankruptcy. Not only the debtor himself but also the creditor is able to apply for bankruptcy. In some special cases, the court can declare bankruptcy of the debtor. The declaration of bankruptcy result in a series of legal consequences among which the main consequence is the qualification of debtor in public law and private law.The obligatory right of bankruptcy is the one happened before the declaration of bankruptcy. All the obligatory rights should be applied through the legal procedure. Any application after the deadline will cause the disadvantage influence to the creditor. The property of the bankruptcyis the one that possessed by the debtor when he declares the bankruptcy. It is reasonable that the Japanese scholars distinguish the bankruptcy consortium, the existing consortium and the distribution consortium.The self-defend mechanism of creditor's rights includes the council of creditors and the supervisor, the former one is the main focus. China is going to confirm that obligatory right is one competence of the council of creditors, which stir up many unnecessary ambigutions both in the theory and in the practice.The system of bankruptcy manager is one of the important contents in the bankruptcy law system. However, the diverse opinions on the legal status of bankruptcy manager can not reveal the essence of the system. In fact, the bankruptcy manager has the independent status in the bankruptcy law. The bankruptcy manager should fulfill the obligatory of good management when he execute his duty. All the countries have set up the order during the distribution of bankruptcy obligatory rights so as to avoid the chaos. Currently, some countries have canceled the prior order of rights of taxation and salary, and made them equal to the general obligatory rights. It is very benefitable to protect equally the interests of the creditor. A...