On Establishing An Individual Bankruptcy Regime In China

The individual bankruptcy is the start of the law of bankruptcy. Throughout the entire historical development process of the bankruptcy law, the individual , as an important object adjusted in the law of bankruptcy, held an important status in the bankruptcy law. The individual bankruptcy refers to the legal procedure that when individual citizen cannot pay off the due debt, when applied by the creditor or the debtor, the court declares him bankrupt by fairly distributing the debtor's complete property for the all creditors. In this article, with the basic question of the individual bankruptcy inspected, and bankruptcy theory discussed, changes in the development of the individual to go bankrupt were promulgated, the more mature concrete legal regime for the overseas individual to go bankrupt was elaporated, and it was proposed that our country should expand the applicable scope, establish the regime for the individual to go bankrupt, and the basic conception of the individuals in our country as well.The perfect socialism government by law, maintaining the creditor and the debtor legitimate rights and interests, connecting rails with the international convention and the realization of the lawsuit justice are the inevitable request to establish the regime for the individual to go bankrupt; Theoretically the mature and perfect overseas bankruptcy regime and practically the increases bankruptcy probability due to improved economic life in our country all increased the feasibility for the individual to go bankrupt. In designing the main body regimes in our country, the bankrupt reconciliation regime should be affirmed, the regime of freeing the debtee from responsibilities should be established, the free property regime should be regarded and the bankruptcy restoration regime should be established.