The Execution And Supervision Of Bankruptcy Reorganization Plan

Bankruptcy reorganization system is a new system that our country's Enterprise Bankruptcy Law introduced. The introduction of this system increases a new path for saving enterprises and balancing various benefits. Reorganization plan is under the court's participation, which formed by the debtor, creditors and other interested persons on the basis of consultation, and this plan is the program of action for them to save the enterprise together. As a saving procedure, the realization of reorganization system's aim relies on the smooth execution of reorganization plan. In implementation, many problems still need to solve, it involves the effect of reorganization plan, the plan's detailed execution, supervision and some other problems. This article will relate those problems. Except the foreword and the conclusion part, the article is divided into four chapters.The first part described the effect of reorganization plan after the court's authorization, which is the problem that must to be clear before the execution. The effect of reorganization plan is mainly reflected in: the binding force of the plan, the effect to the creditor's rights that haven't legally declared, as well as the influence to debtor's guarantors and other joint debtors. And the plan has the banding force not only to debtor, all creditors and the shareholders, but also to other judicial processes.The second part elaborates reorganization plan's execution, including the executor and other related questions. Relating the executor, many countries' legislation is inconsistent. Our country adopts the pattern that the plan carried out by the debtor and this pattern has its own rationality. On the basis of analyzing other countries'legislation and our country's situation, the author believes that the enforceability of reorganization plan is the legal guarantee for the smooth execution. Besides, the modification of plan in execution manifests the efficiency and benefit, and the executing time gives a reasonable anticipation to everyone.The third part is about the supervision of reorganization plan's execution. Because the plan is carried out by the debtor in our country, supervision becomes very important, and it's the essential guarantee for execution. In our country, the custodian supervises the execution, and such legislation can ensure the quality and the efficiency of supervision. Besides, this article also discusses the custodian's authorities, obligations and the supervising time in order to construct a reasonable supervising system. The fourth part introduces the termination and completion of execution. It includes the situations that make the procedure terminated, the one who can apply for, the effect of termination, the manifestation of completion and the effect of exemption from liability.