Bankruptcy Management Studies

The Law of the People's Republic of China on Enterprise Bankruptcy(hereinafter referred to as the Bankruptcy Law) will go into effect as of June 1,2007. It establishes many new systems. These system establishing will producesignificant effect to the bankruptcy law in theory and practice. Although thetheoretic disputes cannot calm down lastly, what at present is more urgent isthoroughly understanding the Bankruptcy Law, and studying how to be moreeffective when putting the Bankruptcy Law into practice.This paper mainly involves administrator in bankruptcy system. Althoughmade some theoretic study to the substantive characteristics of bankruptcyadministrator, The corpus of the paper is a research concerning "receivership",which means a bankruptcy administrator's functions and duties such asmanaging and disposing of the debtor's assets (or insolvent assets); managing ofthe debtor's business; formulating the financial statements; formulating the draftsof reorganization plan or conversion and distribution plan of insolventassets...etc. This paper stands on the bankruptcy administrator's position to dosome studies about How to carry on the functions and duties in actual situation.The discussion of receivership is centered on procedure aspect, and taking theBankruptcy Law as basis, standing on the bankruptcy administrator's position,has drawn the outline of receivership basically.Part one: the Overview of Receivership. In this part, the paper has carriedon a study to the concept and properties of bankruptcy administrator firstly. Thestandpoint of this paper is: a bankruptcy administrator is not only the assistant ofthe court in bankruptcy proceedings, but also is the trustee who entrust thedebtor's assets or insolvent assets. And then has discussed the concept andproperties of receivership, preparations of receivership. For canying on studyingsystematically, receivership is divided into three types in this paper, there arecompromise management, reorganization management and bankrupt liquidationmanagement. Compromise management is discussed in this part lastly.The paper consists of three parts with about 30,000 words. Its abstract is asfollows: Part two: Reorganization Management. In this part, the paper introducesthe characteristic and important work of bankruptcy adminisitrator in theprocedure of bankruptcy reorganization. It includes three parts: firstly, thebankruptcy administrator formulates a draft of reorganization plan; secondly, thebankruptcy administrator promotes the reorganization plan to take effect; thirdly,the bankruptcy administrator supervises the implementation of thereorganization plan.Part three: Bankrupt Liquidation Management. In this part, the paperintroduces the characteristic and important works of bankruptcy administrator inthe procedure of bankrupt liquidation management. It includes two parts: firstly,the bankruptcy administrator drafts and implements the conversion plan ofinsolvent assets; the bankruptcy administrator drafts and implements thedistribution plan of insolvent assets.