Bankruptcy Reorganization System In China Legal Issues

Bankruptcy Reorganization is a new legal system in Bankruptcy Law in our country, which is established in order to save the companies in financial trouble. There are many characteristics in the system, such as object specific, start and participate diversity, liberal application of reason, target diversity, program priorities, corporate rescue measures diversity and limit the priority of security interest. All the features reflect the significance of Bankruptcy Reorganization in restore the value of business operations, which has important practical significance for the bankruptcy enterprise that is still with certain intrinsic value. However, there are still some deficiencies in the Bankruptcy Reorganization after the case study in our country in the two years since the implementation of the bankruptcy reorganization system.With relevant case, this paper discussed mainly in the issue of the lack of clear standards in the normal approval process in the Bankruptcy Reorganization plan, in the issue of the lack of protection from the individuals which has the dissenting opinion in the mandatory approval of Bankruptcy Reorganization Plan, in the issue of the courts feasibility review approval of the draft plan in the mandatory approval of Bankruptcy Reorganization Plan, in the issue of the system in the application of expensive, inefficient and abuse crisis, in the issue of government intervention in reforming the system. The paper proposes relevant countermeasures after the practical case study in our country, combined with the advanced design in abroad Bankruptcy Reorganization system.