The Right Of Set-off In Transnational Bankruptcy

As the embodiment of the principle of fairness in bankruptcy law, the right of set-off plays an important role in protecting the normal trade relations,and is paid much attention by the bankruptcy legislation in various countries.The complexity of the bankruptcy procedure itself and the differences exist among the bankruptcy legislation system in different countries, resulting the complexity of the multinational bankruptcy offset system , this thesis paper analyzes from the complexity of multinational bankruptcy offset system, the origin of multinational bankruptcy offset system, the practise of multinational bankruptcy offset right, the essence of multinational bankruptcy offset right, concluding that other than denying the right of offset, admitting it is in accordance with justification, and is more consistent with the legal pursuit of fairness and justice .Finally, from the perspective of substantial fairness, this thesis paper acknowledges the multinational bankruptcy offset system in China. Our new bankruptcy law established offset system with restrictions, the bankruptcy offset right has vital significance in the realization of paying off debt in fairness. Meanwhile, our cross-border bankruptcy legislation still need further improvement, we should consider building favorable social and cultural psychology, construction the social security and supporting system, eliminate administrative intervention, maintain the reasonable balance mechanism of the relevant rights, guarantee the safety of deals and stability. Make bankruptcy offset power can better perform its function in realizing paying off debt in fairness; Bankruptcy can better balance the interests of the social system, and plays a more and more important role in market economy construction.