The Partiality Of Liquidity On Insolvency Law

With the continuous development of economy and society, China's bankruptcy law related to Preferential Transfer cannot meet the needs of practice. There are several problems in practice: the insolvent debtor and creditors delaying in filing for bankruptcy is more common, so there is long time for Preferential Transfer; Debtor transfers property in disguise by secured claims, damaging the interest of general creditors; relations transfer the assets of companies going bankrupt through business and so on. These drawbacks ruined the equality of distribution among non-secured creditors seriously.At present, the provisions on Preferential Transfer in China's bankruptcy law are too simple. Elements of Preferential Transfer, the special specifications of the relations, revocation of Preferential Transfer and exceptional stipulations are not very clear. When the scholars study Preferential Transfer, they mainly refer to the provisions of U.S. bankruptcy law, but less analyzing legislations in other countries. Therefore, the author intends to compare the relevant provisions of Preferential Transfer in bankruptcy laws to make recommendations for the improvement of Preferential Transfer in China's bankruptcy law.The research methods of this paper include the literature, qualitative and functional analysis, and descriptive research and system- research methods.This paper is composed of the introduction, body and conclusion. The text is divided into four chapters, which involves the definition, components, and the legal consequences of Preferential Transfer and the defects and proposals. The four chapters linked together, as a logical entity.Chapter one is the definition of Preferential Transfer. This chapter addresses the definition of Preferential Transfer, its relationship with bankruptcy fraud, characteristics, and the legitimacy of regulating Preferential Transfer in bankruptcy law, aims to prepare for the further discussion of the elements, legal consequences, and drawbacks and proposals of Preferential Transfer.Chapter two is the components of Preferential Transfer, which includes the general components and the special components between relations. The former includes the subjective and objective elements; the later is composed of the type, the necessary of the particular specification of relations and the stipulated way in the bankruptcy law of various countries. So that it can be better to reconstruct the components of Preferential Transfer and rule the relations.Chapter three is the legal consequences of Preferential Transfer. Firstly, this part discusses the different legal consequences based on different bankruptcy legislations in different countries, and then analyzes the revocation of general Preferential Transfer, the special revocable behaviors, and the exceptional stipulations. According to the comprehensive analysis of foreign legislations, it designs to reveal the comparative advantages and the compatibility between these content and laws and practices of China, in order to identify the subject, term, methods, and legal consequences of the revocation of Preferential Transfer, the revocation of offset with preferential consequence and enforcement actions and the exceptional stipulations.Chapter four is the legislation situation, drawbacks and proposals of Preferential Transfer in China's bankruptcy law, which analyzes the status and the drawbacks of legislation, and put forward the legislative proposals based on the preceding chapters and combined with the practice, which include: reconstructing the components of Preferential Transfer, making special specifications of relations, clearing the revocation of Preferential Transfer, adding the revocation of offset with preferential consequence and enforcement actions, and stipulating the exceptions.