On The Establishment Of The Basis Of The Insolvency Regimes Of Natural Persons

This article will discuss whether natural person should become the principal part of bankruptcy and whether the natural person bankruptcy should be established in China by principle analysis, comparison analysis and demonstration analysis and so on. There are total three chapters of this article showing that there is no theoretical problem to establish the natural person bankruptcy in China by analyzing the situation in China based on the principle of bankruptcy and the bankruptcy regime in developed countries. The natural person bankruptcy is the direction of the bankruptcy regime. But now there is no complete foundation regime to establish personal bankruptcy in China. It is also not a proper time. To establish and consummate the supporting regimes should be our concern.Chapter 1:Introduction of natural person bankruptcy. Section 1 introduces the definition of bankruptcy and the development of the bankruptcy act. Taking natural person as the principal part becomes the direction of legislation of bankruptcy. After introduce the definition of the natural person bankruptcy, Section 2 mainly discusses the object of natural person bankruptcy .In Section 3, we know the differences of natural person bankruptcy compared with bankruptcy of enterprises legal person. Section 4 introduces two basic system of natural person bankruptcy - debt discharge regime and free personal properties.Chapter 2:The legislation and study status of natural person bankruptcy. In Section 1 through the study of the natural person bankruptcy of developed countries such as America and Britain, it shows the natural person bankruptcy must be according to the specific situations of the country. In Section 2 it introduces the history of natural person bankruptcy in China. It also indicates why we need to establish the natural person bankruptcy. The Section 3 discusses the factors which restrict the development of natural person bankruptcy and why it is not a proper time to introduce natural person bankruptcy in China.Chapter 3: Set up the support regimes for the natural person bankruptcy in China. The actions will be taken in encouraging the personal properties certificate regime (Section 1), establishing the personal credit regime (Section 2) and social security regime (Section 3).In China, the natural person bankruptcy should be established. But the time is a little earlier. Its focus should be how to establish the foundation regime of natural person bankruptcy out of the frame of bankruptcy regime instead of whether it should be established.