Reasch On The System Of Rescission Right In Our Bankruptcy Law

The right of rescission in insolvency law is a core system to realize the legislative purpose in various countries, which repeal the harmful acts invalid and make the property interests coming from the harmful acts return to the property of estate. On the basis of realizing the value of the right of rescission in insolvency law system, this paper systematically study on the avoidance of bankruptcy system in our bankruptcy and put forward suggestions for improvement, obeying the logic of the subject of rights, the object of rights and the realization of rights.This paper gets the conclusion that the right of rescission in insolvency law shall have two-fold nature of right of claim and right of formation by analyzing theories of right of formation, right of claim and eclecticism. At today, the bankrupt law's legislation target is diversity, this paper points that the right of rescission in insolvency law may give consideration to maintain the normal business order and business efficiency at the time of protection for overall interests of creditor. The fundamental value of the right of revocation is the direction standard to the rational organization compose in the inside of the right, come to speak concretely:The bankruptcy manager is the executive subject, who executes the right of revocation on the basis of powers. It is more reasonable to regard rational creditors as the right of the revocation from the legislation proposes of the right of rescission; Revocable act of insolvency in China shall be taken legislation mode of connection of abstraction and style. The intentional wrongdoing of actor is partially rescission act elements. Our country shall make a consideration of subjective elements in special circumstances; it is suggestion to adopt the rules of the restraint on the rescission act for business securities that there are acts of the creditor and debtor are likely to be for the normal operation of the enterprise or out of subjective good intentions in the critical period before the beginning of insolvency procedure; about the rules of the exercise of the right of rescission, which is the key point to the realization of it's'propose. As a result of involving many mains interests, the performance of the right of rescission shall execute by way of the suit and the exercise of the right of rescission shall be limited by Scheduled Period at the same time. Three legal effects such as invalidation, restitution and the claim of the creditor shall be brought forth through the exercise of the right of rescission.The benefit balances mechanism would eliminate the anxiety of the actor and make it adjust its business act through the leading function of the legislation, consequently ensured the securities of the normal business before the insolvency procedure.