Comparative Study On Selecting Of Bankruptcy Administrator

The legal system of Bankruptcy Administrator is officially established based on the "People's Republic of China Enterprise Bankruptcy Law" on August 27,2006.The new system is a great breakthrough either in the theory or practice of bankruptcy law in China, and also makes integration with the international relative laws. The establishment of the new system can be a good result to perfect the bankruptcy law of China.The bankruptcy administrator refers to the Agencies and/or Individuals, who are responsible for the process of bankruptcy, including administration of the estate, disposition, liquidation, drafting of bankruptcy plan and practicing according to the law. The bankruptcy administrator is an important person or agency, who is essential to solve all conflicts of interests in the proceeding of bankruptcy, and it make sure the operation of bankruptcy is of fairness, just and high efficiency. However, as a newly established system, the currency of bankruptcy legislations and provisions cannot meet the needs of the practice. Therefore, it is of top priority to set up the advanced bankruptcy administrator system in order to protect the order of market competition, the interests of creditors, debtors, employees, and the public. The main methodology of this paper is on the perspective of comparative laws, which covers the advanced system of bankruptcy laws of some countries, including the United Kingdom, the United States, Japan, Australia and other countries. It gives a view of both the theory and practice of those countries, by introducing the administrator's qualifications, selection conditions, selection procedure etc. At the same time, compared with the practice and theory of those countries, it is expected to be useful to the practice of the bankruptcy administrator of China.