A Study On Improving China's Enterprise Reorganization Legal System

Enterprise reorganization system, as a new legal system in bankruptcy law in China, together with bankruptcy reconciliation system, bankruptcy liquidation system constitute the three foundation of modern bankruptcy legal system. As a bankruptcy reorganization system aiming to positively save enterprises in trouble, a research into it is of importance for promoting enterprise recovery, prosperity and sustainable development of the economy, constructing the socialistic harmonious society, and implementation of humanistic spirit of "people-oriented". The Enterprise Bankruptcy Law has already taken effect in June 1st,2007, it draws lessons from the developed countries' legislative experience, containing much legislation ideas that are worth approving, however,since it transplants many articles from other countries'law, there are many defective legislative provisions in it and still needs to be perfected.This paper is mainly divided into four parts:The first part is about the connotation and denotation of the Enterprise reorganization, a comparative study with the reconciliation program and the liquidation procedures, in order to demonstrate the proposition that Enterprise bankruptcy reorganization procedures take precedence of the bankruptcy reconcilation and bankruptcy liquidation procedures and more suits for development of morderm enterprises .The second part is a study about the Enterprise bankruptcy reorganization legislation in developed countries and regions, such as the Great Britain, the United States, France, Germany, Japan and Taiwan. In order to get some enlightenment on improving China's bankruptcy reorganization legislation and guiding judicial practice. The third part is an analysis of the Enterprise reorganization provisions in new bankruptcy law, The author studies the legislation idea and relevant regulations which deserve affirmation, and furthermore gives some relevant analysis.Immediately after the previous chapter, the fourth part begins with the analysis of the defective legislative provisions in Enterprise bankruptcy reorganization, a solution is proposed which is made by using advanced legislations of other countries for reference combining with the facts of China.