Thinking Of The Enterprise Bankruptcy Claims Priority To Our Country

The important function of the legal system for bankruptcy is to distribute insolvency estates justly and legitimately when enterprises going bankrupt. The formulation of liquidation order in the bankruptcy law, is one of the most effective methods to balance the interests of each party in the procedure of bankruptcy. Taking the case of "Sanlu milk powder" as an example, the author tries to analysis the interests of each party in the procedure of bankruptcy on the base of value orientation of bankruptcy system and legislations in other countries. Then the author tries to conclude some useful suggestions for the legal system about the liquidation order in the procedure of bankruptcy in China. The structure of this article is as follows:In the first chapter, the author does the research on the value orientations of bankruptcy law in different periods and found the interests of creditors’were protected specially in the early Enterprise Bankruptcy Law. Then debtors’interests were gradually taken into consideration. And after that much more kinds of interests were protected by bankruptcy law. Nowadays there are still some new changes taking place in bankruptcy law in limiting the realization of secured debts, protecting vulnerable groups’interests and weakening the governmental claims.In the second chapter, the author analyses the change of value orientation in bankruptcy law system in China, which used to pay too much attention on the interests of society other than on the interests of creditor or debtor while after the market economy is built, more attention is be paid to the diversified interests protection and coordination of legislative orientation. In addition, the author introduces the provisions relating to bankruptcy debts in the current bankruptcy law in China.In the third chapter, the author does the research work on the several kinds of debts which are important in the liquidation order in the bankruptcy law. The debt of personal infringement should be paid in advance because it is related to the protection of victims’right to health and life, and the same as the mass tort to public interests. The debt of labor should be paid in advance because it is related to the protection to vulnerable groups, labors and their family. Since the debt of labor is also protected in Social Insurance Law, labors’interests should not be protected by Bankruptcy Law only. The claim of tax based on public law is an important source of state financial. So the debt of tax should also be paid in advance because of it is related to public welfare. Taking into account that the claim of tax is limited to government’s financial and there are some other alternative ways to guarantee the tax, so the priority of tax debts becomes restricted. The priority of secured claims are also going to be restricted because more and more attentions are paid on social and public interests, even though secured claims enjoy priority according to the traditional Property rights’system of commercial law.In last chapter, the author recommendations that the debt of personal infringement, the debt of mass tort and the labor debt limited by a specific period of time should be realized firstly; the secured debts should be paid in the after them; Thirdly ordinary debts including the debt of labor which is not in the specific period of time, tax debts and the debts of property infringement can be paid.