Functional Analysis Of The Insolvency Administrator In The Insolvency Proceedings

China’s new bankruptcy law is recognized as one of the highlights is the theliquidation group system administrator system to replace the old bankruptcy law.Administrator, specialized agencies in the bankruptcy proceedings to take full controlof the debtor’s business and is responsible for the custody of the debtor’s property,clean up, valuation, processing and distribution services, guidance and supervision bythe court established by law in the bankruptcy case acceptance. The Manager is a keyrole in the bankruptcy proceedings, insolvency laws give managers full duties andrights, China is no exception.Judgment and follow the order managers to perform their duties, the scope of itscapacity to facilitate the control and supervision of the relevant stakeholders at thesame time, countries most of the enactment of legislation or simple or complicated toenumerate provides managers the scope of the duties. Twenty-five of China’sbankruptcy law the same manner enumerated provisions of the general duties of theManager, these responsibilities include the preservation of the debtor’s property,handling legal matters relating to the debtor, to propose the convening of a meeting ofcreditors of the content. Manager duties in liquidation, reorganization andreconciliation procedures are not the same, although China’s bankruptcy law to take ageneralized concept of managers, but for the manager’s duties can not be unifiedenumeration shall be specified. Therefore, the bankruptcy law dispersed managersduties special provisions. Some of these special provisions applicable to the entirebankruptcy law, and some apply only to the liquidation or reorganization proceedings.China’s bankruptcy law on the duties of the Manager made a full range of systemrequirements, but there are still some problems in some respects, to address theseshortcomings in the legislation and judicial interpretation to be perfect. Is too large,the borrowing authority of the managers and major property dispositions permissionsneed to be restrained. Bankruptcy managers investigative powers, the provisions ofthe revocation of the right to supervise and rights are too simple, and should be givenmore detailed and more specific provisions. Reorganization proceedings, thelegislators should break the monopoly of the administrator or the debtor’s right todevelop a restructuring plan, and give the rights of the administrator of of alternativedebtor’s debtor self-mode.