On The Start Of Bankruptcy Proceedings

Free competition is the essential feature of market-oriented economy. Sound market-oriented economy realizes equitable competitions between the subjects in market-oriented economy. Equitable competitions in market-oriented economy will inevitably result in survival of the fittest among the subjects. If the debtor can't pay back the debt, verified by the court, it must be pushed into bankrupt procedure and will be declared bankrupt and be eliminated in accordance with the law. This is the certain requirement of the market-oriented economy. Indeed, it is necessary to grasp wholly whether the debtor has the important law conditions (including legal conditions and legal procedure) of the bankrupt beginning procedure, and which debtors should be brought into bankrupt procedure to pay back debts. The important legal conditions of the beginning of bankrupt procedure include bankrupt capability and bankrupt reasons. The important legal procedure include bankrupt application and the acceptation of bankrupt.Procedure justice is the important contents of judicial justice. Researching the Bankrupt Law from the proceeding points has important theoretical and practical meanings. This article combined the developing situation of our country's socialism market-oriented economy with the practice of legal constructions, focused on the legal systems of the bankrupt beginning procedures on bankrupt capacity, bankrupt reasons, bankrupt application and the acceptation of bankrupt.Based on the research and analysis of our country's present bankrupt legal system, this article verified essential value of the existence of bankrupt system referring to the bankrupt legislate practice in the countries with developed market-oriented economy. It recognized the drawbacks of our country's bankrupt legislation, explored to improve our country's bankrupt legislation thoughts. In this way, it will ensure the justice realization of the particular procedures for the particular debts, in order to protect the legitimate rights and interests of both the creditors and debtors equally, to adjust to the internal requirements of fair and systematic resource distributions in socialism market-oriented economy.