Bankruptcy Reforming The Legal System Research

The establishing and perfecting of Reorientation system are the need of the current bankruptcy law's development. The basic theory and the legislative practice had been developed more than one century; it's a mature bankruptcy legal system. On the understanding of the concept and characteristics to compare and analysis the difference and relation between the system of bankruptcy conciliation, bankruptcy system, Reorientation system. This paper analyzed the structure and the subjects's legal status of the Reorientation system and compared the relevant regulations in many countries and the regulations in China with the experience of judicial practice for perfecting the Reorientation system of our country.