On Natural Person Bankruptcy

The natural person bankruptcy system is the legal system that formulate: when a natural person can not reimburse his due debts, the natural debtee, the debtor and those other concerned can apply for his bankruptcy, the court, according to the bankruptcy law procedures, ends his debts once and for all.In a bit to accelerate reforms in Chinese economic transformation, china's existing bankruptcy law is suitable only to the enterprise operation but is incapable of meeting, the needs of thee development of market economy. This resealed paper, based on the concrete reality of the socialist market economic and starting from the new concepts of bankruptcy legislature, works to borrow these foreign mature legislative experiences, studies the necessity and possibility of establishing nature of person bankruptcy system here in China and also suggests the basic blueprints for the establishment of such a law by using comparative analyses and historical investigations.The main contents:The first part of this paper analyzed the meaning of Natural Person Bankruptcy System ( NPBS). On the basis of analyzing the meaning of " bankruptcy "and " natural person" respectively, the author put forward the meaning of "natural person bankruptcy" which is the combination of the two terms, and then compared and analyzed those muse commonly-used concepts such as natural person bankruptcy, individual bankruptcy and consumer bankruptcy. Through these analyses, the author conduced that natural person bankruptcy is a sort of individual bankruptcy meanwhile pointing out that consumer bankruptcy should be included in natural person bankruptcy.The second part of the paper studied the formation and development of the NPBS in western world from the ancient Rometo modern and contemporary times. Conclusions could be arrived at that as the prime mover for the establishment of bankruplcjrTaw. The NPBS is also the main line threading tiring the whole bankruptcy system; that on the primes of guaranteeing the debtor's intersest, the modern and contemporary bankruptcy law attached more and more importance to the protection of the debtee's interest and that general bankruptcy's is the mainstream of the world, etc. This part also tried to look for the enlightenments the western system could provide us for the formation of china's own NPBS. . -. The third part investigated the reams why such a system should be established in china. The author first demonstrated the state of affairs of the present Chinese bankruptcy legislature and then discussed and concluded that it is practicable to establish the law from respects of possibility and necessityThe fourth part studied the structure of the Chinese NPBS in great detail. The author first discussed the basic—steps—if establishing the law here in china, and then carried out theoretical analyses and designs for the system from perspectives of the causes of bankruptcy and the preconditions for bankruptcy application, the restrictions to the authority and interest of bankruptcy, free property system, the system of freeing the debtee from responsibilities, reconciliation and bankruptcy perversion.At last , the author roughly, expiated his sedations for the auxiliary system for NPBS so that the Chinese bankruptcy law system will be constructed in a harmonious manner.