Study On Credit Protection In Insolvency Reorganization

The focus of this paper is mainly on the discussion of the credit protection in the insolvency reorganization proceedings,in which the author firstly analyses the different systems of several countries and areas such as America,Japan and Taiwan with the methods of comparative and empirical analysis,then makes an analysis on that of China Mainland that stated in the new bankruptcy law,and finally puts forward some suggestions for the credit protection in the hope of doing a bit help for the theory,legislation and judicial practice of our insolvency reorganization system.The content of this paper consists of foreword,body text and conclusion,of which the body text includes four chapters.Beginning with the judicial practice of the new insolvency law,the foreword part of this paper,using the judicial practice of American bankruptcy law for reference,educes the thesis of the credit protection in the insolvency reorganization proceedings.Chapter one explains the basis of the credit protection in the insolvency reorganization proceedings,which includes emphatically the basis of its value goal,reality and theory.Chapter two is about the credit protection in the initiating procedure, including the application scope,the causes and conditions,and the review of the application.Because the ability of debtor was determined by the application scope,the reorganization power shall be endowed only for the debtor involving public interests.The initiating procedure of reorganization shall conform to not only the general or specific cause,but also the condition of reconstruction perspective.The court shall perform a substantial review emphatically on the causes and conditions of reorganization,and if necessary,the corresponding subsidiary review methods and temporary property preservation may be adopted.Chapter three relates to the credit protection in the preserving procedure,in which the author studies mainly on the automatic shutdown system of American,including its effectuation,time limit,range,and remedy.In this part,the author makes an affirmative evaluation of the function of the adequate protection principle of remedy and the relief of automatic shutdown in the aspect of credit protection,and analyses briefly the credit protection system in the preserving procedure of Japan.Chapter four is the discussion of credit protection in the reorganization planning procedure concerned with the making,voting,approval and execution.In this part,the author proposes a series of viewpoints including the diversity of making subject,the combination of mandatory and flexibility of voting grope,the compliance of voting rules and court approval,particularly for the mandatory ones,with the protection principle and will autonomy of credit,the necessity of establishing corresponding supervision system in the process of executing reorganization plan,and finally,the authorization for the objection and the appeal of the supervision organ and creditors.The conclusion,drawn in the last part of this paper,makes a summary of the viewpoints discussed in the full text,and restates the principles,the systems,and the significances of the credit protection in the insolvency reorganization proceedings.Consider that the credit in insolvency reorganization proceedings was constricted,especially for the secured,the design of proceedings shall reflect actively the idea of credit protection, and respect the will autonomy of creditor.