Research On Insolvency Reorganization Of China

With the continuous development and improvement of Chinese economy, We has established the Insolvency Reorganization, It plays an important role in bankruptcy. Compared with Liquidation, Conciliation and Bankruptcy Streamlining, Insolvency Reorganization pay more attention on protecting the interests of society as a whole, focusing on the efficiency, it meets the development needs of the economy and the requirements of social standard, Insolvency Reorganization abandoned the shortcomings of the Bankruptcy Streamlining, It provides more detailes of starting, implementation, ending of Insolvency Reorganization. This system is workable and practical, However, because of our Reorganization system is based on the legislation of foreign countries, and lack of practical experience. therefore, There are many rules to improve, such as lack of guidelines of the Insolvency Reorganization, and the scope of the Insolvency Reorganization is abstract and wide, the protection of the interests of creditors is ineffective, Administrator of the Reorganization is not clear, the implementation of Insolvency is difficult since lack of institutional support, and so there is the risk of abuse of authority of court. Therefore, we first should clearify the the principles of Insolvency Reorganization, specify the scope of Insolvency Reorganization, pay more attention to protect the interests of creditors, and improve the system of administrator, improve relevant laws and regulations and supporting systems, and to restrict the right of court.