On The Conflict, Coordination And Limitation Of Bankruptcy Exemption Right

Exemption right is an important right stipulated by bankruptcy law, which bases on the function of priority of real right and safeguarding the interests of creditors, which protects the interests of the obligee of exemption right on specific property in bankrupt procedures at priority, then which make the function of positively encouraging the civil and commercial subjects to pursue safety of transaction in market economy. This dissertation starts with reviewing the concept of exemption right, points out that bankruptcy exemption right shall be developed from the exclusive validity and priority effect of real rights for security already existed in specific property of bankrupt, expounds the nature and characteristics of bankruptcy exemption right from the angle of statutory real rights from security, discusses that the confirmation of priority of bankruptcy exemption right is the refraction and reflection of civil basic rights in special law, among which right to mortgage, right of pledge and right of lien are three important basic rights. The conflicts in mutual exemption rights, exemption rights and such other rights of priority as tax, labor credit are negative conflicts, firstly we shall follow the basic principles about the confirmation of payment order in security system, according to the types, characters, establishing ways and time of the basic rights of exemption rights, shall determine the payment order among all kinds of exemption rights, secondly we shall clear the relationship among such special rights of priority of payment as tax, general credit without security and bankruptcy exemption right; the dissertation starts with the nature of right of priority, discusses the coordination of the conflicts among labor credit, tax, bankruptcy expense, obligatory right of common benefit and priority of bankruptcy exemption right and the order of payment. Exemption right is the stipulation of real rights for security in civil special law, when protecting the right; we shall make some limited stipulations for the rule. The limitation for priority of exemption right mainly manifests the general limitation in bankruptcy liquidation procedures and bankruptcy conciliation procedures and special limitation in bankruptcy re-organization procedures. In general limitation for priority of exemption right, the time of formation, obligation of declaration, review, exercise and realization of exemption right shall be emphasized, in the special limitation for priority of bankruptcy exemption right, the bankruptcy re-organization procedures for the purpose of saving enterprises is the basic denial for priority of exemption right, the obligee of exemption right shall arrange to exercise rights according to bankruptcy re-organization plan to make the saving for debtor have objective and physical guarantee.