Research On Bankruptcy Administrator Claims Review Practice

Mature and perfect bankruptcy legal system is on important symbol of the developed market economy of a country. The Enterprise Bankruptcy Law enacted in 2006 is the vital component of the legal system of China’s socialist market economy. The new Enterprise Bankruptcy Law abolishes the obviously-disconnected system in the previous one, refers the other countries’ experience in bankruptcy law, combines with China’s actual situations, and perfects the bankruptcy system, especially introduces the bankruptcy administrator system. The new bankruptcy law is a major breakthrough in the legislation, but we also should see the current bankruptcy law rules are relatively abstract and has form very few self-contained complete judicial interpretations, so there is disconnection and dislocation of the legislation in bankruptcy liquidation practice. The provisions of Article 57 and Article 58 of the new bankruptcy law abolish the single subject review and confirmation system of bankruptcy claim by creditor’s meeting in the previous regulations and revise it into the verification of claim system in which administrators receive the claim information, register, review the claim, and then all creditors audit the claim on the first creditors’ meeting; the court confirms the final results of the claim. Three subjects exercise the different functions and power respectively and achieve the diversionary effect, and ensure the fairness of bankruptcy claims payments institutionally. From a practical point of view, that bankruptcy administrators review claims is the key of the claims confirmation system, but the law is too principle, so it makes bankruptcy administrators have unclear authority and disunited review mode in the claim review. The author has worked as an intern in Chongqing Top Think Liquidation Service Company for three months and mainly was in charge of reviewing the declaratory claim of Chongqing Zhiquan Construction Company. Based on the bankruptcy liquidation case of Chongqing Zhiquan Construction Company as an example, the author combines the thought and feelings, makes detailed discussions from theory and practice and summarizes the permissions of bankruptcy administrators in the claim as well as the review contents and methods.The thesis is mainly divided into five parts:Part one is the introduction and summary of case as well as the case-related legal problems. The introduction part introduces the topic background and innovation points, difficulties and deficiencies of the thesis, briefly overviews the bankruptcy case of Chongqing Zhiquan Construction Company, introduces the background of the company, causes of the bankruptcy and claim review results and finally puts forward the related legal problems in the process of the case claim review.Part two discusses the legal status and features of bankruptcy administrators in the claim review. The legal status of bankruptcy administrators determines their limit of power and it is quite necessary to discuss it. By comparing several theories at home and abroad, the part concludes the most suitable theory for China’s the bankruptcy administrators is the special agency theory; it can reasonably explain the bankruptcy administrators’ power source in claim review and can offer theoretical support for the Bankruptcy Law.Part three and Part four are the focus of the thesis. According to the data the author collects and practical operation, and various kinds of situations the author encounter in the case claim review, the two parts discuss whether the bankruptcy administrator review claim should be formal examination or substantive examination, and put forward the methods that bankruptcy administrators can adopt for claims review and the contents that they should review.Part five is the author’s advice of regulating the overall claim review process.