Research About Priority Of Labor Creditor's Rights In Bankruptcy Law

After 10 years of hard drafting, "the People's Republic of China Bankruptcy law" was finally adopted and published on August 27, 2006 by the People's Republic of China Tenth National People's Congress 23rd meeting of the Standing Committee, and on June 1, 2007 comes into operation. Before new "Bankruptcy law" appears, "the enterprise bankruptcy law" implementation was difficult, of which many places incompatible with the realities in China. The main reasons of newly "Bankruptcy Law" difficult to appear calling again and again is the priority of the labor creditor'srights and the guarantee creditor's rights——which of the interests should beprotected firstly. Such controversy once rose to the height of " to the market economic order or to people-oriented".This paper proposes to balance the interests of all sides to achieve society harmony from the plight of the existing bankruptcy law in the implementation; discusses the basic theory of labor creditor's rights including the nature and characteristics and scope of labor creditor's rights; analyzes the relationship between the labor creditor's rights and the guarantee creditor's rights in the bankruptcy assignment position and the bankruptcy expense; reveals the peculiarities of the labor creditor's rights and clears its priority; limits reasonably the time and scope of labor creditor's rights priority for the balance conflicts of the labor creditor's rights and the guarantee creditor's rights; advises that the labor legislation be revised and perfected to resolve the question of labor creditor's rights protection.