Research On Legal Issues Of The Trust Companies Bankruptcy Liquidation

There are only about more than 60 trust companies in China, That is, the trust companies in China are mainly of state-owned holding and the others are complementary. However, with the development of market economy, the trust companies are facing the survival of the fittest and some of them will face elimination. It will produce a lot of legal issues when trust companies filed for bankruptcy, which are the content and purpose of this article.It can arouse the prospect of trust companies, increase confidence of the security of the trust property and point the way to the establishment of trust companies, daily management and exit the market through the research of the trust companies bankruptcy liquidation. At the same time, we could find several issues of the trust laws and regulations in the trust companies bankruptcy liquidation from multiple perspectives through the study of this article. This article will give some advice to improve the trust companies bankruptcy liquidation procedure eventually and solve the related problems in practice.The first chapter is the introduction part, describing the purpose and significance of this article and research methods, as well as the scope of study on clear demarcation. This chapter is the theoretical framework of this article, which has made clear about the urgency and the necessity of trust companies bankruptcy liquidation legal research and introduced the research methods used in this article.The second chapter is about the status of trust companies bankruptcy liquidation in China. The author introduces the market exit path of trust companies in our country, which reflects serious administration color and played a certain role in a particular historical period a long time ago. Nevertheless, it does not conform to the market operation rules nowadays. The following introduces the trust companies running status and the legislative status. It is found that less of the law of trust and not detailed enough. In the end of the second chapter, the author sums up the experience of the trust companies bankruptcy cases.The third chapter compares with the existing regulations in China according to the Anglo-American law system, Japan and South Korea on the related provisions of trust companies and bankruptcy trustee. In the meantime, the author sums up the foreign relevant experience about trust company bankruptcy liquidation and gains the enlightenment to our country.The fourth chapter is about the analysis of several important legal issues about the trust companies liquidation in China. Because of the particularity of the trust property, the law does not define who owns recall right of the trust property. The management scope of obligation about the trust property of the bankruptcy administrator is ambiguous and there is no corresponding motivation mechanism. It is not clear to determine the bankruptcy administrator and the role of client in the new trustee.The fifth chapter is about the suggestions that put forward legal problems targeted on the fourth chapter. The law should make clear that let the client has the recall right of the trust property. The author suggests that committee made up by the client and the creditor selects bankruptcy administrator, which can balance the conflict of interest among the client, beneficiary and bankruptcy administrator more scientifically and reasonably.