The Study On Chinese Bankruptcy Revocation Rights System

Bankruptcy is the product of a certain stage of the development of marketeconomy.Once the company goes into bankruptcy， it can`t repay all thedebts.Whether debtors or creditors will avoid law based on their interests even fraudbehaviors.So it need to be regulated by legislation，and the system of bankruptcyrevocation rights emerges as the times require.The bankrupt revocable power systemoriginated litigation system of Paul in ancient Rome law，the modern legislationabsorbed and improved it continuously， and a complete system of bankruptcyrevocation rights formed in modern economy，as the bankrupt enterprises increases，bankruptcy fraud emerge in an endless stream，the system of bankruptcy revocationrights need to be perfected.Especially，our country`s bankruptcy revocation systemexists many defects，it needs to be perfected according to facts.It is just the importantsignificance of this paper.Firstly， this paper introduces the system of bankruptcy revocation rightsbriefly，outlines the origin, introduces the two kinds of legislative modes about thebankruptcy revocation rights in bankruptcy，and reflects on the legislative mode ofthe present stage of our country,proposes that our country should learn from foreignexperiences to take the legislative model combining summary with list, thendiscusses the concept of bankruptcy revocation rights and its important significanceand shows its importance.Then this paper expounds the theoretical foundation ofbankruptcy revocation rights`generation，its constitutive requirements and legaleffect to lay the foundation for later discussion.Secondly,in the method ofcomparative analysis this paper compares bankruptcy revocation rights with civilright of revocation and invalid act system.Thirdly，in case analyzing method thispaper reflects on the typical cases occurred in the practice of our country，summarizes the focus and then discusses details.The conclusion is made thataccelerating the maturity system should be recognized and goodwill creditors in bankruptcy procedure should also be protected in bankruptcy procedure and therevocation rights of civil law also should be recognized in the bankruptcy procedure.Finally， by revoking the legislation concept of the bankruptcyrevocationrights.This paper specifically reflects on fraud regulation of thebankruptcy revocation rights，regulating preferential payment behaviors and theshort of trustee in bamkruptcy enforcing the revocation rights.This paper proposeschanging the legislation concept of bankruptcy revocation rights，and under theguidance of the concept,it proposes improving the specific rules of bankruptcyavoidance powers.Particularly they should be improved from three aspects:Firstly，increase save clause for revocable fraud，and introduce the Principle of Deep Rockas a useful complement to control person`s fraud behavior of damaging othercreditors`interests，give trustee in bankruptcy the right to apply for the court torevoke， which is to protect the interests of creditors， and achieve a fairrepayment.Secondly，improve preferential payment rules，and add prior maliciousoffsetting having the preferential effect in the protecting of bankruptcy revocationrights，while giving goodwill creditors the rights of defense,balancing the overallinterests of the creditors and goodwill creditors and transaction security,at thesame time improve exceptions to preferential payment.Thirdly，improve trustee inbankruptcy motivate and disciplinary system.From the intrinsicmotivation,artificially enhance the enthusiasm of trustee in bankruptcy to exerciserevocation rights;on the external system,draw on the Anglo-American trustmechanism connotation， rich trutees in bankruptcy obligations,supervise andrestrict it by law to make trustee in bankruptcy perform their duties sincerely anddiligently to maximize the interests of creditors.