Research On Legal Issues Of Liability Insurance Of Bankruptcy Administrators In China

Along with our country the implementation of the enterprise bankruptcy law, bankruptcy administrator system in bankruptcy law system in China formally established, to comply with the trend of International legislation and the enterprise bankruptcy law in China,which on the obligation and responsibility of trustee in bankruptcy is relatively clear rules, the bankruptcy administrator in the bankruptcy procedure face great risks for the limited repayment ability. under the condition of large amount of property loss, the bankruptcy creditors and other stakeholders often difficult to fully assume liability to pay compensation, resulting in serious losses to stakeholders in the bankruptcy procedure, and thus trust relationship of managers cannot be established. In order to protect the interests of a third person and to promote the development of the bankruptcy administrator system, the enterprise bankruptcy law in our country had principle manager to participate in the professional liability insurance, makes every effort to enable the manager’s civil liability by way of insurance socialization, ensuring that the victims can get timely and effective compensation.They are two important legal systems in different countries, the legal status of bankruptcy administrator how to define, there are different points of view, can be summarized as the following four main theories:one is the agent said. Second, the post said. Three is a consortium representative said; Four is the trustee said. At present our country to legal institutions on the legal status of bankruptcy administrator said. Because our country the enterprise bankruptcy law establishing the system of bankruptcy administrator time is shorter, the insolvency administrator practice liability insurance only made the principle regulation, in the actual research to practice itself has no insurance related legal issues of further research.At present, the implementation of the administrator professional insolvency liability insurance has a relatively good economic conditions. In addition, hong-tao zhang, king and chief editor of the liability insurance theory, practice and case analysis and Zou Hailin by two in the book "the theory of liability insurance" detailed discusses the origin, characteristics of liability insurance and insurance model terms, etc., to research manager’s professional liability insurance in our country provides a good theoretical basis for related legal issues. On this basis, this paper based on the legal practice in our country, in reference to foreign relevant laws and regulations, on the basis of study of administrators in our country liability insurance related issues.The first part states the bankruptcy administrator basic concept and The bankruptcy administrator practice legal status,the basic concept of liability insurance also presented in this paper, which based on set up the bankruptcy administrator practice significance of liability insurance, demonstrating its help to safeguard the bankruptcy creditor’s rights and interests and social public interests.The second part discusses the bankruptcy administrator practice liability insurance of our country current situation of legislation, and then summarize our current he insured and insurer concept five problems.The third part in view of the above mentioned five existing problems which summarize and put forward relevant suggestions, like perfection of the insurance, the subject matter of the insurance, the duty of loyalty and diligence clearly put forward proposals, coordinate the insurance liability overlap and to establish the mechanism of supervision concept.