Study On The Commitment Of Bankrupt’s Guaranty And Recovery In Bankrupt Procedure

There are no specific regulations in current China’s bankruptcy laws in relation to guarantee liabilities’burden or otherwise when guarantors are in bankrupt procedure. The commen rules shall apply when special laws are silent that guarantors should burden the guarantee liabilities in bankrupt procedure. With repect to the guarantee liability and recovery of guarantors, Security law and Bankruptcy law shall not apply mechanically because of the special bankrupt procedure, resulting in some insoluble problems in practice within the current laws. In educational circles, there are no agreements in the ways of the guarantee liabilities and recovery of guarantors when bankrupt especially in the case that the claims don’t expire, the guatantor is general guarantor, and so on. Moreover, scholars usually just focus on one partial point such as how to deal with the beneficium excussionis. However, in order to practically solve the problems, it is necessary to review such problems from the perspective of system construction based on the overall system of bankruptcy proceedings.In this article, it reviews such problems from the perspective of system construction. Based on the procedures provided in bankruptcy laws and considering all, it aims to explore a feasible way of the guarantee liabilities and recovery of guarantors when bankrupt which can be reasonablely inserted in current security laws and bankruptcy laws.