Research On The Conversion Ofbankruptcy Proceedings

Under the influence of the economic crisis, enterprise bankruptcy has become the finally choice of many enterprises. The current Enterprise Bankruptcy Law has established the bankruptcy reorganization, reconciliation and liquidation proceedings. The Article 2, 7, 70 and 95 have stipulated the applicants and the conditions of each kind of procedure respectively. Besides, Article 78 and 104 has stipulated the conversion between bankruptcy prevention procedure and liquidation procedure in the circumstance of the failure of prevention procedure. These rulings have framing constructed the bankruptcy procedure system. But it has been neglected that these three bankrupt procedures have similar purpose and applied condition, and there are only part of the procedure conversion have been stipulated.Current laws' settling already can't satisfy the continuously increasing bankruptcy debtors'needs on bankruptcy prevention system. The independently applying bankruptcy procedure may limit the choice ability of bankruptcy debtor. Therefore, the bankruptcy debtor should be entitled to choose whether to convert the bankruptcy procedure or not. However, it should be noticed that not all of proceedings have the necessity or rationality to convert. Moreover, it is not reasonable to stipulate that the business enterprise should apply a liquidation procedure in the situation of failing to reorganize or compromise according to the current law, regardless of whether the enterprise is on the verge of bankruptcy or not.Chapter 1 defined the scope of bankruptcy conversion and the function of bankruptcy reconciliation procedure, analyzed the legislation of other countries and the Taiwan region, and pointed out the limitation of the current rules on bankruptcy procedure conversion. Chapter 2, 3 and 4 inquired into the necessity, rationality and possibility of the bankruptcy procedure conversion. What's pointed out is that the conversion between bankruptcy prevention procedures will be classified into a different type as the different applying time, which may produce different law effect. Chapter 5 simply set up the bankruptcy procedure conversion system on the basis of the fore text.