On The Insolvency Estate

The law system of bankruptcy is an important part of the law system of commodity economy. It guarantees the work and development of the commodity economy. Since the law system of bankruptcy in our country is not perfect, and the present system disjoints the development of the society, the study of this problem has the realistic meaning.The bankruptcy system has already established for more than 100 years in the developed countries. But in our country, having overcome many obstacles, "Bankrupt Law ( practice)" was set up on December 2, 1986. We cannot deny the fact that the bankrupt law has contributed to the developed of the commodity economy and the construction of legal system. However, during the last ten years after it was set up, the bankrupt law has exposed many problems and defects of itself, which are beyond the expectation of the designers. The social problems of unemployment, discarding of property and shrinking of debts, which are brought about by bankruptcy, have a strong impact on social orders, and worry the decision-makers and all levels of governments. After years of practice in bankruptcy lawsuits, I profoundly felt the bankrupt law of our country bore the heavy burden brought by planned economy. People still have prejudice to the value of bankrupt law, regarding it the cause of unemployment, discarding of property and shrinking of debts. In fact, without bankrupt law, business enterprises would as usual be closed down, the workers unemployed, the state-owned property lost, and the escape of debts. But we should see that the unconsciousness of legal system of the whole society is surely a reason why it is difficult to carry out the bankrupt law, and that the imperfectness and unreasonability of law system itself is also an important reason for the social disorder.Bankrupt property is a core of the bankruptcy law. Bankrupt property is alsocalled the bankruptcy financial group, which is theoretically used in three kinds of meanings, namely legal financial group, current financial group and assignment financial group. In fact, the bankrupt property means substantially that whether the bankrupt financial group is a rights corpus or a rights guest. The scope of bankruptcy property of lawmaking involves two problems. The first is when the property that a bankrupt person own's belongs to the bankrupt property. The second is that what of the property of the bankrupt person belongs or doesn't belong to bankrupt property. In addition, outside bankrupt property, there is property which is called the free property or free financial group, dominated freely by bankrupt person freedom.The paper studies, with the method of comparative analysis and summarization of bankrupt, the ownership of bankrupt property rights, the contents, scope, exceptions, the rights of taking back and the rights of repealing of bankrupt property, which are the core of the law system of bankruptcy. Being an indispensable component of law system of bankruptcy, the study of it will build up the competency of business enterprises, and be practical and realistic to solve the problem of unemployment of state-own enterprises.