Study On The System Of Company's Reorganization Project

Reorganization refers to the reconstructive liquidation system of Insolvent Corporation, which adjusts its debts and reorganizes its enterprise to ensure its ongoing management, then shuffle off the trouble to achieve renaissance of itself eventually. As one of the last components of modern corporation system, in market economy countries it has become the important legal system to avoid bankruptcy other than compromise system, which also represents the tendency of others' legislative reform. However, our nation has not set up the reorganization system for Insolvent Corporation yet in true level. With the establishment of modern enterprise system, it is imperative to set up an integrated reorganization system in China, in this way to give the companies in trouble a chance of rebirth. Whether the reorganization project can be passed or feasible determines whether the objective of the reorganization can be achieved. Therefore, the reorganization project is not only the basis of reorganization behavior, but also its guideline when it carries on and goes further. In on word, it plays a key role on the whole process of company reorganization. Thus, its institution, content, approval as well as ratification and execution directly influence the effective implementation and functional exertion of company reorganization.With reference to the comparatively matured legislation of other nations, the article is to carry in-depth research on the project system of company reorganization in our country, simultaneously comment on the correlative content in the draft of new Law of Bankruptcy, and bring forward some suggestions of author.Except the foreword, the article is divided into three chapters:The first chapter is to make a systematical analysis on the institution of reorganization project, which can be further partitioned into three sections: the first section states the institution of reorganization, probes into the proposal of Project and principles of its institution, and claims that in order to attain a practical and enforceable project, the reorganization project should be set down mainly by reorganizer under the assistance of debtor; the second section explains the principles that should be complied with during the institution process, and deems honesty and rationality, thoroughness as the three most important principles; the third section set forth the content of reorganization project. The second chapter expounds the approval and ratification of the reorganization project. Also, it includes two sections: the first part is about the approval of the project, consisting of vote grouping, voting, and modification of the reorganization project; the second part mainly states the ratification of project and its effectiveness, including legislative examples of foreign countries, conditions of ratification and effectiveness of its ratification. The third chapter explores the execution of reorganization project, chiefly involved the listing four parts: executor is indispensable to the reorganization project; the requirements of its execution; supervise of the execution; termination of the execution.