Since the implementation of the new "bankruptcy law" in2007, bankruptcy reorganization cases become the focus of state and society because of directly related to the survival and dilemma of company. Bankruptcy reorganization system opens the way to realize the difficult enterprises’ reconstruction and revival under the premise of clearing the debts fairly. It is an important judicial means to cope with the international financial crisis and to save the plight of enterprises. However, the processes of bankruptcy reorganization involve the debtor, shareholders, new investors and other stakeholders. From "wugudaochang""Tianyi technology""the days of hair oil""*ST Baoshuo ""*ST Chuangzhi""*ST Guangxia" all these bankruptcy reorganization cases, it can be seen that the interests game is extremely complex, reforming process striking one snag after another. The programs have been questioned. In view of the imbalance of interest in our bankruptcy reorganization, analysis the impact of benefit appeals from different parties in the process of bankruptcy reorganization, the way to weigh interest in legislation and judicial are the main questions which this article must solve.The first part is the concept and legal provisions of the bankruptcy reorganization system involved. It introduces the origin and the legal implications of the bankruptcy reorganization system, analyzes the value of the reorganization, and leads to the legal nature of the balance of interests.The second part gives the concept and characteristics of interest, mainly explains the interest balance mechanism and the mechanism of balancing of interests in the bankruptcy reorganization system embodied in.The third part makes an empirical study based on China’s bankruptcy reorganization cases, discusses the conflict between the interests of the bankruptcy reorganization of different parties involved. According to the specific situation of the actual cases, consider the main requirements of different parties and analyze the root causes of conflicts.The fourth part discuss the specific issues in the implementation process according to the specific situation, mainly are the reorganization procedure lacks the substantive review mechanism, resulting in reforming the abuse potential of creditors in reorganizes; in the negotiation the interests of creditors may be infringed; the standard of court forced to approve the reorganization plan is uncertain; the government’s administrative power intervene too much brings about a negative upon the justice.The fifth part discusses the improvement measures to the issues raised in the fourth part, mainly analyzes the start conditions, planning and vote, restrictions of the court when approve the reorganization plan and the role of the government.In the conclusion part author reiterated the importance of the balance of interests in the bankruptcy reorganization. The key to improve the bankruptcy reorganization system is based on the value of the reorganization system of the system itself, considering the interests of various stakeholders, including the public interest, fair allocation of risks and benefits, providing sufficient relief for the loss of interest, to maintain the autonomy of the parties in court supervision. China’s bankruptcy reorganization system will realize the innovation and development. |