Insolvency Administrator Elective System Of Study

Bankruptcy system is a legal system designed to liquidate debtor's assets and pay off the debt, thus it could guarantee the fair repayment of debt. It plays an important role in modern economy. After China became a member of the WTO, the reform process of our economic system has been furthered and private enterprises are becoming larger and larger. On the other hand, China's old bankruptcy system, which was established in the 1980's, has been out of date so it would hinder our economic development to a certain degree. Under such condition, a new bankruptcy law emerges to meet the demand of a new era. The highlight of this law is the establishment of bankruptcy administrator system, which is completely new both in theoretical and practical fields. It is necessary to attach great attention to theory research of bankruptcy administrator system, so that we can grasp its essence and further develop it.Election system of bankruptcy administrators is an important component of bankruptcy administrator system. As the first step of bankruptcy administrator operation, the election of bankruptcy administrators determines not only administrators' responsibility, but also the supervision of administrators and the related systems. So the research work of the election system of bankruptcy administrators is of great importance both academically and practically. For the above-mentioned reasons, this paper focuses on the election system of bankruptcy administrators for a systematic study and discussion.The first part of this paper deals with the fundamental issues of bankruptcy administrator system. It explores the origin of bankruptcy administrator system, gives a general introduction to the concept, characteristics and status of bankruptcy administrators, and then provides a solid theoretical foundation for the following discussion.In the second part, the paper discusses the selection system of bankruptcy administrator via introduction, comparison and evaluation of both foreign and China's legislations and judicial decisions. To be more specific, the part deals with the following issues: when and how to select bankruptcy administrators, who could be selected as bankruptcy administrators, the qualification and number of would-be bankruptcy administrators. Thus it provides a comprehensive grasp of the selection system of bankruptcy administrator.Finally this paper discusses some of the problems in China's current Bankruptcy Law and the related judicial interpretations, and provides some advice on how to overcome these problems and perfect our legal system.