On The Perfection Of Compulsory Approval System In China 's Bankruptcy Reorganization

Reorganization is the core of the modern system of bankruptcy law. The main procedures of reorganization are making, voting, approving and executing the reorganization plan.Among them, the cram-down system of the reorganization plan is the special form of approval system. For the rebirth of the enterprise, the court crams down the reorganization plan, regardless of the individual teams’ objections. The public power’s intervention is a kind of mandatory intervention for the reorganization, and this is a breakthrough for the system.But it is a doubled-edged sword. On the one hand, it ensures the rebirth of the enterprise; on the other hand, it cannot guarantee the interests of some creditors. As it is an imported product and also the transplantation of the foreign legal system, the cram-down system gradually exposed some defects,in face of the complex judicial practice and adaptation to the market economy of our country.This thesis includes four chapters:In the first chapter, it starts with the analysis of “Tianyi Bankruptcy Reorganization Case” and “Suzhou Yaxin Bankruptcy Reorganization Case”. Then we do discover some problems in our country’s cram-down system.In the second chapter, we focus on the theory of cram-down system, beginning from relevant concepts, exploring the foundation and basis of the theory, analyzing the effectiveness the system in implement, and discussing the social significance and value of the system.And twe gradually find the problem of the system in practice, and analyze the problem.In the third chapter, we mainly analyze and compare the system among several major countries to find out the advantages and shortcomings of various systems, which can be absorbed in our system to improve our system.In the fouth chapter, through the analysis of the existing problems in Chapter third, we provide some suggestions in the aspects of the basic principles, procedures and entity and some supplements.