The Research Of Supervising Bankruptcy Trustee

A bankruptcy administrator has been playing a significant role in the process of insolvency. Not only has he obtained extensive power to deal with the insolvency, being resulted from the trust of the parties under the very circumstance, but also he has protected the rights of debtees and debtors, and the success of the liquidation procedure. Thus, in order to avoid abusing power, the research of supervising the bankruptcy administrator has its own great theoretical and practical value.My comment will be concentrated on the supervision system of the bankruptcy administrator. On the basis of the pre-existing regulations and precedents, an analysis will be made to the sketch and problems of the Chinese supervision system, leading to the suggestion and recommendation. In order to make the statement able to hold water, this article will be divided into four parts, apart from the introduction section and the inclusion section.Part I:The introduction of the supervision system on the bankruptcy administrator. Such has been introduced and discussed:the definition, the characteristics, the development, the scale of duties and responsibility, especially the necessity and the importance of supervising the bankruptcy administrator.Part II:The comparison between the developed countries. Firstly, the supervision regulations on the insolvency administrator in British, America, Germany and Japan have been introduced in this section, which will bee followed with the comparison in the content of supervision. The very content consists of three parts:the qualification, the election and the function. In addition, the obligation on the civil, administrative and penal has been illustrated as well.Part III:The pre-existing Chinese bankruptcy law and its threats. Based on the current insolvency law of China, the supervision system of bankruptcy administrator has been analyzed, leading to the summary of its shortcomings and threats. The very summary will be discussed in four areas:the lack of integrity and availability for supervisor, the inexistentency of the access to being a bankruptcy administrator, the weak of the election provisions, the blurring of the supervision system, the briefness of the bankruptcy administrators' responsibility.Partâ…£:The suggestion and solution of the Chinese insolvency law on the bankruptcy administrator. The suggestion varies as following:firstly, a professional insolvency court should be created above the intermediate people's court, in order to rearrange the creditor's committee and establish the Judiciary administration, which is followed by the suggestion to the content of the supervision provision. Such suggestion has been introduced for the improvement of the qualification, appointment and duties. Besides, it should enrich the regulations on the obligations of the bankruptcy administrator, and add the property guarantee of the administrator.