On Bankruptcy Fraud

Market economy encourages free competition. When an honest merchant becomes insolvent, he will quit the market through the procedure of bankruptcy. If the bankruptcy is a misfortune of the debtor, his creditors are unfortunate as well. Under the collective pari passu principle in bankruptcy law, the creditor cannot claim for what the debtor cannot pay off. However, bankruptcy fraud unlawfully diminishes the bankruptcy assets which have already been insufficient. Bankruptcy fraud makes the bankruptcy assets less and what the creditor can obtain from the debtor less. Bankruptcy fraud impairs the fair interest of creditors in bankruptcy, does harm to the credit of our society and brings the safety of finance and society into danger.In the dissertation, by comparative and pragmatic analysis, the author made a deeply research in the types of bankruptcy fraud, the precautions and the remedies of bankruptcy fraud. Subsequently, the author discussed the provisions of current bankruptcy law of People's Republic of China thoroughly, analyzed the deficiency of the regulation on the precautions and the remedies of bankruptcy fraud, and then put forward his legislative suggestions.The key issue under discussion is raised in the first chapter. The author defined two key words, bankruptcy and bankruptcy fraud, together with typical cases in our judicial practice, pointing out the seriousness, harmfulness of bankruptcy fraud and the urgency of strengthening the regulation of it.In chapter two, the author carried out his research in bankruptcy fraud by means of classification. According to home and abroad legislation, the author analyzed the typical forms and classified it on different standards.Chapter three is the core of this dissertation. In this chapter, the author explored the regulations of bankruptcy fraud in western countries. The regulations include two aspects: the precautions and the remedies. The bankruptcy law provides the duty of publication of the assets and financial conditions, and also provides the rights of supervision of the creditors. The right of rescission in insolvency law is the basic remedy, by which the...