On The Issue Of The Right Of Cancellation Of Bankruptcy

As one of the commercial law, bankruptcy law is a very important law whose primary goal value is to equitably protect creditor’s maximum compensation when the market subjects withdraw from the market. As one of the important system in bankruptcy law, bankruptcy revocation rights play a significant role in equitably protecting creditor’s maximum compensation, maintaining the stability of the market order and the security of the transaction. China’s new Bankruptcy Law has formally recognized this system in legislation, and conferred the bankruptcy revocation rights to the bankruptcy administrator. However, the legislation does not explicitly define the constitutive requirements of revocable juristic act, and the identification of defendants, which arouses controversy in the execution of bankruptcy revocation rights.This paper takes a classic case of bankruptcy revocation rights with widespread controversies as an example and gives an analysis upon its controversies in legislation, and problems involved in legal theory through case study. The author also proposes a personal suggestion for improving the legislative stipulation of bankruptcy revocation rights, hoping to offer some useful reference for the enforcement of bankruptcy revocation rights.The paper consists of three parts:introduction, body and conclusion. The introduction mainly analyzes the background and purpose of this study. The conclusion is a summary of the case as well as the outlook for the perfect legislation and effective execution of bankruptcy revocation rights. The following five parts composed the main body of the paper:Part1:"Basic case and controversy". In this part, basic details of the case are introduced, including the controversy points in the two parties, the trial result and its reasons.Part2:"The dispute on the defendant main qualifications and related third party in the litigation for bankruptcy revocation"This part is an analysis of the first controversy point in this case. This section focuses on the theoretical analysis on the viewpoint of defendant’s subject qualification from various doctrines, and puts forward its own point and legal basis. Then, the author proposes an analysis of third party in such cases. Third part:The dispute on whether perpetrator’s subjective malicious could be the constituent elements of bankruptcy revocable behavior.This section first introduces the controversial doctrine from the domestic scholars, comparing and analyzing foreign legislation examples on such cases. After this, the author puts forward his view and solutions.The fourth part:the theoretical analysis of accelerated maturity of loans and bank’s behavior of transferring to foreclose.This section analyzes the rationality of "Obligation Acceleration" in the contract and the legal nature of " transferring to foreclose".The last part is the suggestions on improving the bankruptcy revocation system in our country. First, combined with this case and other information gathered by the author, it briefly introduces the problem in the enforcement of bankruptcy revocation rights, and proposes improving suggestions.