| Before our Bankruptcy Act came into force on 1st November 1986, China has no concrete laws for any forms of bankruptcy, there was no rules or codified regulations for such. There were only a few regional domestic rules that touch on the topic of bankruptcy. It was a breakthrough of the situation in our legal system with the Bankruptcy Act in place. Although there are just 43 Articles in the Bankruptcy Act which are drafted in a brief manner with their main focus in the principle rather than the practicability in addition to many traces of the planned economy, it was surely a delightful step taken in the Chinese history of legal advancements, especially during a period where bankruptcies or insolvencies are pressing risks. Thereafter, many criterions involving the formulation of the Bankruptcy Act came into sight. With concerns to the system and contents therein as a whole, many drawbacks are found in the criterions of the current Bankruptcy Act, especially palpable in the chaos in legislation with multiple source of standards, over-restrictive applications that are not covering all creditor's rights, inconsistency of the definitions and standards of bankruptcy, insufficient protection for the creditor and the overweighting of the administrative elements. Lacking a perfect bankruptcy system will unquestionably hinder the economic development in China, especially in an integrated market in the world after China entered into the WTO. In the premises, certain suggestions are proposed in this thesis for the consummation of the handling of bankruptcy cases through the study on the Legislation of the Chinese Bankruptcy Act.Chapter 1. The Author, through the reference to the Trustee system in foreign bankruptcy cases, outlined the Trustee systems in bankruptcy of respectively Japan, England, United States, etc. The examples illustrated that it is the norm and common practice internationally to establish a Trustee system for any bankruptcy laws. Furthermore, the Author conducted an...
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