Legal Issues In Relation To The Insolvency Of Partnership Enterprises

The dissertation, on the basis of Chinese socialist market economy and the new vision of the insolvency legislation, discusses the establishment of insolvency system on partnership enterprises in China and puts forward the preliminary opinion on the structure of such insolvency system. The dissertation, approximately thirty-one thousand words in total, is separated into four chapters as follows:Chapter One outlines the legal characters of the insolvency of partnership enterprises. It points out that the difference between the insolvency of partnership enterprises and the insolvency of other enterprises lies on the fact that the partners of partnership enterprises undertake unlimited liabilities which means that if the total assets of a partnership enterprise is not enough to pay off its debt, the partners shall be liable for the unpaid debt with their own personal assets. This chapter further analyses the legal characters of partnership enterprises on the basis of the influence on the partners by the partnership enterprises insolvency and the influence on the partnership enterprises by the partners' insolvency.Chapter Two analyses two insolvent aspects: cause of insolvency and capability of insolvency. The cause of insolvency, in the view of the way that partners take responsibilities and the new tendency of insolvency law, is that a partnership enterprise is not able to repay its due debt. The conclusion that partnership enterprises are capable of being insolvent results from the analysis on the insolvent capability of legal entities and natural persons.Chapter Three discusses the insolvency properties and insolvency credits. It points out the range of insolvency properties shall be limited to the own assets of the partnership enterprises. This chapter further analyses the way to confirm the total amount of insolvency credits and the order of descending priority to repay the debts.Chapter Four mainly discusses the issues with regard to the procedures on the insolvency of partnership enterprises, which consist of insolvency application, insolvency conciliation, the liability exemption of partners and the insolvency modes.