The Restriction And Preservation Of Secured Reclaims In The Perspective Of Bankruptcy Reorganizations

Bankruptcy reorganization and secured claims in their respective areas of lawboth have high status. Bankruptcy reorganization based on public interestconsiderations create a possibility for the brink of bankruptcy companies to revive.The secured claims is a practice toward the principle of property primacy in Romanlaw, letting creditors having a security interest, bank as a main part, can stand outfrom the competition with general creditors when enterprise has a risk of bankruptcy.Two diametrically opposing ideas meet system within the scope of bankruptcy law,intense conflict axiomatic. How can we make a choice when conflict happens, Howcan we balance the interests of the system. Author searched legislation filesthroughout nation. Most countries are inclined to be more concerned about the publicinterest bankruptcy reorganization system, but for the benefit of the secured creditor isnot blindly containment, instead,states to take a more careful design of the system andmore to fully remedyto prevent public power rampage under the guise of publicinterest. In essence, the restriction to secured claims is to limiting the exercise of right,instead of limiting the essence of right itself.Paper is divided into four parts. Author discussed basic theory of the bankruptcyreorganization in ChaptersI to lay the theoretical foundation for the subsequentdemonstration. The chapterII is the key point of my discussion. Firstly, I defined thecategory of secured claims under the view of bankruptcy reorganization; on this basisI analyzed the value of the system of secured claims,While I introduced public interesttheory considering philosophy of law, made a detailed analysis on legitimacy aboutthe limit for secured claims from the level of jurisprudence. In chapterⅣ, authorinvestigated extraterritorial legislation and analyzed the background and meaning oftheir systems. On this basis, in the last part author made a comment on legislationstatus quo of China, and made a number of recommendations to improve legislationsystems.