The Study On The Extraterritorial Effect Of The Legal System Of Bankruptcy Law

Along with the deepening of global economic integration, the exchanges of economic between countries increased, and the cross-border insolvency cases largely appearing, causing the widespread concern in the international community. Cross-border insolvency cases, because of its creditors, the debtor and the property divided in different countries, involving many interests, so in dealing with and resolving cross-border insolvency cases, there are many difficulties and obstacles.In many cross-border insolvency-related legal issues, the most important aspect is the extraterritorial effect of transnational insolvency. it is not only in cross-border insolvency cases, whether the courts have the right within the country in dealing with foreign property under the jurisdiction of the legal issues, but also related to the bankruptcy court declaring a foreign country, including the validity of the problem.As the countries in which social development, national economy, the Government benefits and other aspects of historical development is different, the treatment of the extraterritorial effects of cross-border insolvency issue of attitude and perspective are different.From the analysis of cross-border insolvency and bankruptcy of the basic theory of the various countries and international organizations, the extraterritorial application of the cross-border insolvency comparative analysis of the system, hoping to find a most suitable system model of China's social and economic development.