On The Enterprise Bankruptcy Revocation Rights

"The Enterprise Bankruptcy Law (trail) of China" which is promulgated in 1986 exist obvious flaws: strong planned, intense administrative intervention and poor operability. It is also contrary to the essential attributes of market players: the fittest, the survival. This makes "The Enterprise Bankruptcy Law" into a "promotion law" and a "social security act". "The Enterprise Bankruptcy Law" in order to solve the problem of the market withdrawal mechanism, its value embodies the ideals of fairness and efficiency. "The New Enterprise Bankruptcy Law" attempt to give an impression of being a corporate insolvency law with full market economy. Compare to "The Enterprise Bankruptcy Law (trail)", the new "Enterprise Bankruptcy Law" has a substantial increase in the sections, it greatly enriched its content, and also, there are many bright spots creating a whole new world of feeling. In the additional system of administrator, "The New Enterprise Bankruptcy Law" gives manager the rights of bankruptcy abrogation, this is a whole new breakthrough of legislation, and so it caused much controversy over the serviceable range and constituted conditions of revocation rights.The full text is divided into four chapters:The first chapter is introduction. It comprehensive expounded the background, causes of "The Enterprise Bankruptcy Law of People's Republic of China", analysis of its functions, as well as its effect on Chinese socialist market economy, and leads the topic through innovation of "The Enterprise Bankruptcy Law of People's Republic of China"——the new system of administrator.The second chapter analyzes the basic theory of revocation rights. In this part, start from the provisions of bankruptcy revocation rights from enterprise bankruptcy law, explain its conception, analysis of its characteristics and nature In-depth. And then, analyze the statute about revocation rights from Civil Law and the Contract Law. In addition, compare the similarities and differences in order to expound this issue clearly.The third chapter makes an assay of legislation of bankruptcy revocation rights. This chapter introduces the theory on bankruptcy avoidance from the civil law and common law. The provisions of bankruptcy revocation rights in the new "Enterprise Bankruptcy Law of People's Republic of China" seem to be more inclined to the common law, so it is necessary for us to compare the regulations about bankruptcy revocation rights from the civil law and common law.Chapter four is the study of how to complete Chinese bankruptcy revocation rights. First of all, the scope of adjustment form which revocation rights set makes no difference between "The Enterprise Bankruptcy Law of People's Republic of China" and "The Enterprise Bankruptcy Law (trail) of China". However, not only has the reality of the law, it should be done in advance. The development and the change of market economy are endless. If in the future practice, something which is not included in the scope of adjustment above has arisen, it might lead to be a situation of having no law to follow. The second, exerciser of bankruptcy revocation rights is limited to the main administrator, such provisions would arise some vacuum in legal proceedings in the course of operation. Furthermore, bankruptcy revocation rights not make any provision for the exercise program and the legal consequences. In this chapter, the author conducts on those issues in-depth analysis, and makes some suggestions to perfect this problem.