Theory Of Bankruptcy Reorganization System In Our Country

The establishment of the insolvency reorgnization system is comform to the trend of modern international rescue law and the key point of the legislation amendment in many other countries in recent years as well. There are relatively complete insolvency reorgnization systems in many developed countries and areas. With the constantly development of marketing economy in China, enterprises in social and economic position in the increasingly importantce, simply type insolvency liquidation cannot meet the needs of the market withdrawal mechanism.Thus, in2007China officially implemented the new" corporate bankruptcy law ", and dedicated a chapter of the insolvency reorganization system made a provision.It can be considered a revolutionary breakthrough in our law of bankruptcy legislation history,the insolvency reorganization system can not only make the debtor and creditors to obtain a win-win results,but also maintain the interests of the whole society and economic order. It is also known as the law of bankruptcy protection and corporate regeneration.The article starts from the conception and characteristic of the insolvency reorgnization,elaborating the the social meaning and legal significance of the insolvency reorgnization system in China. Meanwhile the author introduces the basic contents and legislative history of the bankruptcy reorganization and pointed out the defects and deficiencies of the bankruptcy reorganization system as well as put forward the suggestion of improvements of bankruptcy reorganization system in China in order to make our "corporate bankruptcy law" in the bankruptcy reorganization system more complete, the private enterprises can be effectively applicable to our reforming system so as to promote China’s bankruptcy legislation and improvement of private enterprise’s market environment.This paper consists of five chapters:The first chapter outlines the basic theory of the system of bankruptcy reorganization. The author briefly introduces the bankruptcy reorganization of the concept and characteristics, discussing the social significance and legal significance of the insolvency reorganization system combined with the contemporary social economic development trend and the trend of the legislation. At the same time the author compares bankruptcy reorganization with the bankruptcy settlement, bankruptcy liquidation in a simple analysis of the similarities and differences, discussing their respective roles and features.The second chapter mainly introduce bankruptcy and reorganization systems of the other countries in the world. The author lists Britain, Japan, and the United States bankruptcy legislation to analyze China’s bankruptcy reorganization system under different countries, law of bankruptcy legislation.The third chapter focuses on eloborating the basic content of the bankruptcy reorganization system of China’s new bankruptcy law. The author starts from the bankruptcy legislation’s development of our country, by introducing such aspects as our commencement of bankruptcy and reorganization proceedings, insolvency, restructuring plans, bankruptcy reorganization procedure termination, discusses the key elements of the insolvency reorganization system and legal requirements.In the fourth chapter the author analyses the problem and weakness on the system of bankruptcy and reorganization, expounding China’s present situation of of bankruptcy reorganization and cites two typical private enterprises bankruptcy case-Xingchang Dabo and East Star Airlines bankruptcy case which are after the promulgating of China’s new bankruptcy law. Based on the presentation and interpretation of case background, process and affect, focus issue,I highlight the current problems existing in bankruptcy reorganization system.In the fifth chapter the author presents the suggestions of improving our bankruptcy reorganization system. The author proposes the suggestions in such aspects as:improving restructuring application vetting system,trustee in bankruptcy system,reorganization plan system.In conclusion the author points out that the establishment of the insolvency reorgnization is a major breakthrough in new bankruptcy law of China, but there still exist many problems regardless of the legal provisions or the practice.We should deepen the theory study of bankruptcy reorganization system, strengthen the practical operation to realize the legislation purpose of bankruptcy reorganization system.