On Legislative Modes And Systematic Design Of Bankruptcy Discharge

The bankruptcy discharge system is a product of economic development and historical evolution in modern times. Unlike a bankruptcy non-discharge system, bankruptcy discharge motivates the debtor's application for bankruptcy instead of concealing his property, thus significantly reducing the economic losses of the creditor. On the other hand, as a vital element of "fresh start" policy, bankruptcy discharge offers to an honest but unfortunate debtor another chance, and creates for him a possibility to quit the market competition and regroup when encountered with a fatal failure.In many countries, bankruptcy discharge is utilized for the purpose of stimulating the debtor to assume entrepreneurial risks, improving economic prosperity and reducing the financial burden of government.This article, taking the bankruptcy discharge system in individual bankruptcy as the object of study, focuses on introduction of bankruptcy discharge, its modes and developing trend, its specific procedural designs and the plan of constructing the bankruptcy discharge system in Chinese law. The whole article is divided into 6 parts:The Introduction part briefly states the functions and globalization trend of bankruptcy discharge, and analyzes the purpose of writing of this article or, to put it another way, the value of study of bankruptcy discharge. This part also mentions the status quo of domestic and foreign studies of this topic, and also defines the materials and researching methods used in this article.Chapter one is a general statement on bankruptcy discharge. Starting from the definition of bankruptcy discharge, section one discusses the development from non-discharge to discharge in individual bankruptcy, and proposes the values of its existence. To further validate the discharge system and to provide theoretical supports for the next chapters, section two introduces the modern theories on justification of bankruptcy discharge.Chapter two is an analysis of modes of worldwide bankruptcy discharge systems today. Section one is an introduction of different modes under different standards. Section two studies the reasons for the existence of these modes and introduces different legislations in different countries. And in the last section, with the examples of the United States and Germany, the article describes the trends of development both in conservative mode and in liberal mode.Based on the theoretical analyses in the above two chapters, chapter three begins the introduction of specific procedures and studies several important rules and questions in bankruptcy discharge.Chapter four is a statement on the prospective construction of a Chinese bankruptcy discharge system. After all the discussions in the former three chapters, this chapter first studies the existing legislation and practice of our country, then analyzes the principles, mode and specific contents of the bankruptcy discharge of our own, and finally proposes the systematic design plan.The conclusion concludes the whole article by summarizing the article's points of view.