The Study Of Financial Institutions Bankruptcy Liquidation Order

Nowadays, China is Socialist market economy country. Financial institutions aresimilar to the ordinary business. Financial institutions must comply with the competitionrules of the market economy, survival of the fittest, the bankruptcy may also occur.However, in practice, financial institutions and ordinary enterprises are sometimes different."Enterprise Bankruptcy Law" applies to our current financial institutions bankruptcy caseis being heard. There is no special law for bankruptcy of financial institutions in China, buton key issues,"Enterprise Bankruptcy Law" does not apply to the bankruptcy of financialinstitutions.This article will introduce domestic and foreign real similarities and differences of thebankruptcy of financial institutions debt settlement system. It will compare financialinstitutions with ordinary enterprises, and put forward constructive ideas on the liquidationorder of bankruptcy of financial institutions.This article is broadly divided into three sections. The first part is the overview of thetheory of the financial institutions bankruptcy liquidation order. This section brieflydescribes the causes of the bankruptcy of financial institutions system and its significance.It introduces the legislative situation in China from the perspective of "EnterpriseBankruptcy Law","Commercial Bank Law" as well as a comprehensive legal perspective.This section allows the readers a general understanding of the subject. The second part ofthe article is the analysis of the legislation and practice of China’s financial institutionsbankruptcy liquidation order. It outlines the drawbacks and limitations of our currentlegislation. The third part is the key part of the article. This part studies foreign legislation,such as United Kingdom, United States and Russia. By comparison and summary, thisarticle summed up China’s principle of law in this area, and it also gives our legislaturesome useful advice.