On Bankruptcy Ability Of The Foundation

In China, the Foundation as a corporate entity, was mainly bound by the"Public Welfare Donations Laws","Foundation regulations","Registration of Social Organizations Ordinance"and other laws。Foundation does not as the belongs to the object of current "Bankruptcy Law,it withdrew dissolve by itself or the way of administrative dissolution. Whether the Foundation should be given to capacity adjustment range of the system into bankruptcy, disputed in theory circle, but now there is no specialized writing about it, there is only a little brief introduction in the study of Bankruptcy system,non-profit organization system or other issues, lack of depth, systematic writing.This paper summarizes the basic overview and analyzes the legal meaning and basic legal characteristics of the Foundation, then combining the domestic and foreign theory on the Bankrupt System Research. discusses the Withdrawal of the Foundation in a legal perspective, The article also summarizes some important content as the modus operational and the out model of the Foundation, respectively, from the Foundation level and the level of the insolvency system to start discussion of the bankruptcy of the Foundation in order to make institutional arrangements. Meanwhile, foundation for the necessity and feasibility of the bankruptcy system is focused on research based on that foundation exists the possibility of bankruptcy, combined with the value of bankruptcy legislation and the reality of the foundation for China and so on, my view is that bankruptcy should be given the ability of the Foundation been proposed that foundation suit for bankruptcy system.The first chapter, it overview the foundation. In this chapter, summarizes concepts and legal characteristics of the Foundation, and summarizes the history and status of their development, laying the groundwork for the follow-up study of this article. First of all, within the framework of the two legal systems, comparative study of the various definitions to clarify the meaning of the basic legal Foundation. Secondly, on this basis that the Foundation has a public benefit, non-profit and corporate legal property. Finally, I will discuss the sum of the world rise and development of the Foundation, as well as the development of the Foundation of China.ChapterⅡ, I will talk about the need of bankcrupcy of foundation. This chapter focused on, the possibility of bankruptcy, and the need of bankcrupcy, as well as analysis, the value of the applicable bankruptcy regime. First, the financial position and institutional levels to study the possibility of bankruptcy Foundation, that in a market economy and China's current system, the Foundation for bankruptcy is inevitable, this situation needs to be standardized bankruptcy system. Second, from the Foundation level, examine the need for an insolvency system, that its corporate properties, multi-mode of operation to determine its need for the insolvency regime should apply; Meanwhile, the general pattern of China Foundation of the existing exit, hold that compared with companies and other enterprises, its withdrawal from the institutional arrangements is not reasonable and ability required to complete assigned to the insolvency. Finally, the analysis of the value of the Foundation for bankruptcy system that will be incorporated into the adjustment of the insolvency system, the scope of requirements consistent with the interests of stakeholders, while protecting the overall interests of society, and conform to the international development trend of insolvency legislation.ChapterⅢ, the Chinese Foundation the feasibility of the insolvency system. This chapter is divided into three parts, analysis from the bankruptcy system level the feasibility of the bankruptcy system for Foundation, with the bankruptcy ability institutional theory. Firstly, to make a general theory of investigation for the Bankruptcy Ability System, hold that the bankruptcy system of broad and narrow sense, and then analysis the bankruptcy of the broad and narrow ability, on the basis of the research into bankruptcy reorganization and the bankruptcy conciliation. Secondly, from foreign and domestic point of view, discuss the legislative status of the Foundation bankruptcy, that the narrow scope of our bankruptcy system, it is necessary to broaden the timely, given the Foundation Bankrupt. Finally, from the bankruptcy system level feasibility study for that in the short term as"the Charities Act"the amendment as an opportunity, based on"Bankruptcy Law"; provisions of article 135, the light from the law applicable to the qualifications given; At the same time, study the development trend of the insolvency system that will adjust the Foundation into the scope of the insolvency system, the system will help improve the ability of bankruptcy and it is consistent with the value of the law.ChapterⅣ, I will talk about Classification of the Chinese Foundation Bankrupt. This chapter discusses two mayor issues, the classification of the Foundation and application of the special arrangements bankruptcy system. Firstly, under"Foundation Management Regulations"of the classification criteria and classification of other theories hold that the different classification criteria applicable to the insolvency system is not an obstacle. Secondly, examine the special problems of the Foundation bankrupt, see that the dual management system, you can refer to the "Bankruptcy Law "Section 134 provisions on bankruptcy of financial institutions, with foreign experience, I propose that to give the business units and the registration authority competent approval authority, the use of Administrative procedures and pre-bankruptcy reorganization, the system of pre-settlement arrangements. Finally, concluding the paper hold that the Bankrupt Foundation has given the necessity, feasibility, constructive to our system in line with the law and international trends, theory community should take it seriously.