The Basic Study On The Law System Of The Reorganization

The Reorganization System and its procedure represent the development of the modern international bankruptcy law, at the same time it is the key point on which all various nations are revising and making. Many countries have regarded the bankruptcy reorganization system as its main content of Bankruptcy Law. At present, the countries and regions where market economy is more developed have established a relatively complete corporate reorganization law system. On the August 27, 2006 the Tenth National People's Congress Standing Committee of the 23rd meeting passed the "People's Republic of China Enterprise Bankruptcy Law.",which concludes the Reorganization System, and adds one unit specially to make the formal regulations of the Reorganization System and its process. In this paper, on the basis of drawing on foreign experience of reorganization legislation and proceeding from China's actual conditions, the author analyzed and interpreted the System of Reorganization. Moreover, with the analysis of "the first case of reorganization after the New Bankruptcy Law is enacted", The author ventured to give his own opinions on Reorganization System of the New Bankruptcy Law and point out the shortcomings in order to make it more feasible in our nation, and to reach the expected target of making this law. Four sections will be concluded in this thesis:In the first section, the basic theory on the Reorganization System will be presented. Starting from the development trend of contemporary Bankruptcy Law, the author introduced the definition of the Reorganization System, the value orientation of the Reorganization System, the characteristics and theoretical basis of the Reorganization System and the social background and objective basis of the Reorganization System.In the second section, the Reorganization System of the New Bankruptcy Law will be analyzed and explained. The author respectively analyzed the programming of the law entity in the Reorganization and the plan of the Reorganization. First the author compared the three different legislature model of Reorganization System of the world and support the way that China regulates the Organization System in the Bankruptcy Law. On the analysis of the law entity in the Reorganization, the author explained why the application scope in our country of Reorganization System is corporate enterprises Instead of the current international expression"company". When discussing the Reorganization applicant, the author pointed out the shortcomings and believed that shareholders should be given the right to apply for the initial Reorganization. In addition, the author had also made some useful study of the bankruptcy Reorganization organs. On the Reorganization process requirements, the author described the six areas: the formulation of Reorganization plan, the filing deadline of Reorganization plan, the vote and pass of Reorganization and effectiveness and the implementation of Reorganization.In the third section the first case of Reorganization after the promulgation of the New Bankruptcy Law ---the case of XianJu Hospital Reorganization will be presented. First the author introduced the basic situation and the controversy point of this case. Then the court's opinions and the final decision of this case are invoked. Finally the author compared the XianJu hospital Reorganization case with another famous Reorganization case—ZhengBaiwen Reorganization case in order to point out the significance of the case.In the last section the author pointed out that the inadequacies of the Reorganization System in light of China's national conditions. Firstly, although the Reorganization System is good, it is not a panacea for reviving enterprises. The author suggested that the system have the risk of abuse. Secondly, the author believed that the mandatory approval of the court on Reorganization System should be cautiously used. Finally, the author proposed the problem of convergence between Reorganization System and the Company Law.In conclusion, the author pointed out that although Reorganization System had been introduced into China's Bankruptcy Law, China has not the practical experience of applying this system. Therefore, China should as soon as possible in light of China's national conditions do a good job to make the Reorganization System localization so that we can achieve legislative goals.