Font Size: a A A

The Theory Of The Extraterritorial Effect Of Bankruptcy

Posted on:2013-07-30Degree:MasterType:Thesis
Country:ChinaCandidate:Z CaoFull Text:PDF
GTID:2246330362969227Subject:International law
Abstract/Summary:PDF Full Text Request
In the context of global economic integration, the transnational flow of capital,technology and personnel is very convenient. Therefore, a country’s economicbehaviors often cross borders, and even affect the country’s economic order andstability, which manifests outstandingly on the transnational bankruptcy.Transnational Bankruptcy is a case which contains foreign elements. Amongthose legal issues in transnational bankruptcy, the extra-territorial effect oftransnational bankruptcy occupies an important position. It refers to the matterthat whether a debtor’s assets in other countries can be attributed to thebankruptcy property, so that the trustee can manage and distribute themuniformly.This paper takes the extra-territorial effect of declaration of bankruptcy as theresearch object. It begins with the global economic crisis problem, studying thetraditional theory about the extra-territorial effect of transnational bankruptcy andits new development, and researching the world’s major countries’ andinternational organizations’ attitudes towards this question. On this basis, thispaper analyses the current situation on the extra-territorial effect of China’sbankruptcy law. Taking China’s conditions into account, it puts forward asuggestion of legislation. Besides the introduction and the conclusion, the fulltext consists of three parts.The first part studies the basic theory of the extra-territorial effect oftransnational bankruptcy. The second part discusses the internationalcommunity’s practices on the extra-territorial effect of the declaration oftransnational bankruptcy. The third part analyses China’s status quo and casesof the extra-territorial effect of the declaration of transnational bankruptcy.In the end, the conclusion of the fourth part is drawn by the analysis of Article5of the new bankruptcy law. Combined with the experience of foreign countriesand China’s conditions, it puts forward suggestions: to distinguish the main andsubordinate bankruptcy proceedings; to enhance international cooperation; to guarantee a clear status of foreign bankruptcy trustee; to join in transnationalbankruptcy bilateral agreements or international treaties; to enforce betterinter-regional bankruptcy provisions; and to enact special stipulations onfinancial institutions’ bankruptcy.
Keywords/Search Tags:Transnational Bankruptcy, Declaration of Bankruptcy, Extra-Territorial Effect of Transnational Bankruptcy
PDF Full Text Request
Related items