Certain Legal Issues On China’s Bankruptcy Reorganization

China’s Enterprise Bankruptcy Law in force from June1,2007for the first time theintroduction of reforming the system, constitute the complete bankruptcy of the legalsystem together with the reconciliation and settlement systems. The article Analysisthe features and functions of the value of Bankruptcy and Reorganization,believe thatour bankruptcy and restructuring of the scope of application is too great, there arerisks of abuse, etc. less than the interests of creditors, protection of the lack of,re-engineering. In view of China’s bankruptcy and reorganization system owes muchto the United States re-engineering system, the article Analysis of the U.S.Bankruptcy Reorganization and Legislative. The article suggests that the bankruptcyand restructuring in China perfect in determining the scope and strengthen theprotection of the interests of creditors, and prevent the re-engineering functions abuse,master of markets and government intervention scale and functions of the courts andjudges. The article suggested that our country should be clear as soon as possible tolimit the scope of application of the bankruptcy and reorganization system,establishing the system of bankruptcy and restructuring the basic principles applicableto large enterprises, excluding the application of small and medium-sized enterprisesand individuals; Should be provisions in the Enterprise Bankruptcy Law in addition tothe oversight report shall be submitted to the People’s Court on the implementation ofthe restructuring plan by the debtor, the administrator should also be submitted to thecreditors ’meeting monitoring report, to accept the dual review of the People’s Courtand the creditors’ meeting; To increase the Court to review "to build the hope that"elements, if the debtor build hope,"should the court rejected the application; refinethe duties of courts and judges to the court to promote the process of bankruptcyproceedings in the host and supervisor status.