The Interests Balance Law Studies Of The Individual Bankruptcy System

Since the founding of New China, especially with the all-round and gradually deepened reform and opening up, China’s economy has become the world’s second largest. In the face of a good situation of economic globalization, the trend of international development, cooperation and communication have become more and more obvious, which makes us to think seriously about the internationalization of the law, recognition and enforcement of a foreign court ruling validity in China. It is no doubt that the applicable scope of the bankruptcy law has become an urgency to solve, concluding the related subject as well. Chinese bankruptcy law will take off the hat of half bankruptcy law, which concludes the origin of bankruptcy regimes. This requests us to fully consider the benefit of the individual bankruptcy, evenly distributed in all the creditors, on the basis of the interests of bankruptcy debtor, policy and public social interest, to avoid mass incidents and even social unrest caused by "unfair judgment", causing harmonious socialist society and the complete Chinese dream does not go smoothly, on the contrary, it will go further on the way of realizing China dream. This paper will fully expound and prove the issues on the interest balance law related to individual bankruptcy based on the social reality mentioned above. Referring to the best countries in the world of personal bankruptcy legislation builds the individual bankruptcy interest balance regimes, and make the economic subject individual and juridical person be protected equally, so as to make up the shortcoming of civil law and civil procedure act and push the honest but in debt individual, away from the competitive market and the massive debt and get life safeguard. There is still opportunity to regain their feet. Thus, the benefit of the individual bankruptcy balance problem is very conspicuous. As Hecker notes that law is not only a logical structure, but balance of all sorts of interests.