This thesis studies the balance of interests in enterprise bankruptcy, which is a fundamental issue. The major issues the thesis tries to study is to identify the policy goals and operation mechanisms in enterprise bankruptcy, and how to protect and adjust the interests of each party in enterprise bankruptcy. Following the general introduction, there are five chapters in the thesis. The instruction introduces the causes and significance of research, the methodology and structure the thesis adopts, and explains the basic concepts. Chapter 1 studies the interest parties and the conflicts of interests in enterprise bankruptcy. The thesis classifies the claims and conflicts of interests in enterprise bankruptcy, and analyzes the social nature of the conflicts of interests, and explains the public interests and individual interests mix together de facto. Policies are needed to be made to harmonize each kind of interests, and private autonomy should be fitted together with state coercion in this process. Chapter 2 discusses the policy goals in the process of the balance of interests. The representative theories about the policy goals of bankruptcy are reviewed in this chapter, and the presuppositions and preconditions of the policy goals of interest balance in enterprise bankruptcy are also discussed. On the basis of the common claims in three levels, the thesis brings forward three general policy goals, i.e. maintenance of society stabilization, realization of social impartiality and maximum of wealth. Chapter 3 studies the operation mechanisms of interest balance in enterprise bankruptcy. The interests are balanced in three basic paths, i.e. legal arrangements, group autonomy carried out by committee of creditors and trustee in bankruptcy, and decision-making of judges. These paths combine into the operation mechanisms of interest balance in enterprise bankruptcy. A general mode called "compelled autonomy" is put forward to describe the hypostasis of the operation mechanisms. Chapter 4 studies how to protect and adjust the interests of each party including oblige of estate, creditor, employee, government organizations, debtor and the other interest parties. Most of the institutions of enterprise bankruptcy are studied from the point of view of interest balance and some innovative opinions are put forward in this chapter. Chapter 5 studies interest balance in enterprise bankruptcy in China. After the review of the history of enterprise bankruptcy in China and a study of policy goals which should be fixed at present, the thesis discusses ten important institutions in enterprise bankruptcy in China, and brings forward some suggestions for the future legislation. |