Research On Multinational Bankruptcy Jurisdiction Conflict And Its Solution

The increasing number of the continuous development of trade and investment and economic globalization makes the transnational bankruptcy cases. The global financial market can be said to be in a recession.The financial crisis has not only brought the enterprise bankruptcy, also makes many multinational companies have trouble. The bankruptcy of an enterprise itself with complexity, if bankruptcy involves various countries, so this transnational bankruptcy work involves a wide range and high complexity of one can imagine. Of course, the bankruptcy of multinational enterprise is a form of transnational bankruptcy, bankruptcy work includes not only the multinational bankruptcy, also includes the subject object, and content are related to the bankruptcy. This study is the key problem to a series of problems of transnational bankruptcy work, namely the conflicts of jurisdiction.In the cross-border insolvency cases, because of the judicial practice and legislation of the transnational bankruptcy, such as how to apply the law will bring a lot of problems, which in the case under the jurisdiction of the court to the problem, determine the court with jurisdiction principle of extraterritorial determined by the court of our country, which comes under the jurisdiction of the problem is very important, is directly related to the realization of several other problems, and even can be said to play a decisive role.If a court has jurisdiction over the trial of cases of cross-border insolvency, directly determines the judgment would be his country’s approval, and then affect the progress of implementation of this decision. The starting point of the author to write this article is KPMG in a multinational bankruptcy case, court in the country began to take measures, a serious impact on Chinese judicial sovereignty. The author explores the fundamental problems behind the problem of conflict of jurisdiction, puts forward relevant solutions of jurisdictional conflicts in transnational insolvency on the basis of reading a lot of domestic and foreign literature, books, academic papers and so on.In addition to the first introduction and the end, this article expresses the questions using following five chapters.The first part analysis the conflicts and cause of cross-border insolvency jurisdiction conflicts,aim to establish the importance of transnational insolvency jurisdiction. Then give further analysis of different theories of international civil and commercial jurisdiction in cross-border insolvency. The pros and cons is to serve as a theoretical basis for States to analyze the different principles of jurisdiction.The second chapter is the basic theory of transnational bankruptcy extraterritorial effect are introduced, and compared their advantages and disadvantages of the three theories,then the author put forward a new theory.The third chapter wants to express the jurisdictional conflicts about the transnational insolvency model, through the elaboration of the United States, the European Union and the United Nations Commission on International Trade Law and other related countries, How to stipulate in law to solve the transnational insolvency jurisdiction problem, an--lysis the advantages and disadvantages for now improve transnational bankruptcy law to provide reference.The fourth chapter is the jurisdictional conflicts in transnational insolvency solutions research, this chapter is the three chapter on the basis of the summary, is an important part of this paper, puts forward some methods to solve the conflict of jurisdiction in different levels of domestic legislation and international law by all countries. This chapter also analyses how to perfect the bankruptcy of the fifth chapter of transnational Chinese jurisdiction to do the groundwork.The fifth chapter is through the first four chapters of the bedding put forward suggestions for perfecting the jurisdictional conflicts in transnational insolvency.Finally, the author summarized, in view of the economic situation in our country, our country should draw lessons from the advanced legislative experience of other countries, according to the status quo of China conditions and associated with cross-border insolvency legislation on this basis, put forward reasonable suggestions. The author argues that in order to keep up with the pace of international cooperation, improve the domestic legislation. The final foothold in China should start from their own, play a small role, perfect the legislation on cross-border insolvency legislation theory and at the same time, clear standards for jurisdiction, in order to solve the legal norms on the basis of judicial practice, more in-depth into the international investment and trade.