On The System Of The United States Insolvency Administrator

This thesis examines the Bankruptcy Trustee in the United States of America and tries to give suggestions of incorporating the Bankruptcy Trustee into the legislating Bankruptcy Law of the People's Republic of China. The U.S. Bankruptcy Trustee is overviewed in the first part. The second part covers the powers and duties of the Bankruptcy Trustee. Trustees are authorized with powers necessary for the management of bankruptcy proceedings, among which avoidance power, power to sue and to be sued, and operation powers are of the most importance. Duties and liabilities are indispensable to qualify any rights. Duties include mandatory duties and fiduciary duty. The former is provided in the Bankruptcy Code and the latter is imposed from equity law. The breach of duty by the Trustee may cause him personal liability, but the standard to determine the breach of duty varies in both theory and practice. The thesis analyzes the forgoing with plenty of cases and literatures of America. With the experience from American law, the last part concerns the bankruptcy practice in China. After examining the practice of Liquidation Group and analyzing the provisions concerning the Bankruptcy Trustee in a NPC bill, the thesis ends with some proposals for the future Bankruptcy Law.