The Legal Perfection Of Debtor's Self-managing System In Bankruptcy Reorganization

In the background of the strategic adjustment of national economic structure,the requirements of decapacity,deleverage,destocking for economic development and policy reform is gradually increasing.One of the biggest priority of stabilizing market is disposing the zombie companies and venture business properly,and the importance of bankruptcy proceedings is increasingly significant.The system of bankruptcy debtor self-management is specified in the article 73 and article 74 in the current Enterprise Bankruptcy Law,which the core is debtor could continue to "occupy" his own business and transactions during reorganization.The system of debtor self-management is a bankruptcy reorganization system in dominent of debtor,which has lots of advantages,including maintaining the continuity of debtor's management,saving trouble enterprises,providing opportunities of correcting error management for the debtor and promoting reorganization procedure to run efficiently.However,this system is only highly summarized in the 2007 Enterprise Bankruptcy Law,and there is no specific provisions about detailed measures of the self-management system and the debtor protection mechanism,which leading to some flaws and shortcomings in application of the debtor self-management system,such as interests' imbalance in the parties,debtor's fuzzy powers and undefined regulation about bankruptcy revocation right of debtor.As a result,it's urgent to do some research and combing for the system.In this paper,the author makes a theoretical study of the debtor self-management system and clarifies the connotation,the basic procedure,the value and the advantages and disadvantages of the system firstly.Then,combs and puts forward the problems existing in this system which including the supervision system is imperfect,the information disclosure system is unsound,the compensation of debtor self-management is unclear.On the basis of combining with theory and existing problems,investigates the relevant legislative and judicial experience of the United States,Germany,France and other countries.Finally,aiming at the existing problems in the system,takes example by foreign advanced system's experience and makes pertinent suggestions from aspects of constructing multi-supervision mechanism,improving information disclosure system,clarifying the compensation of debtor self-management.This paper introduce the debtor self-management system from many aspects and provide perfect suggestions of the information disclosure system to this system.In addition,analysis feasibility and existing value deeply from the perspective of interest balance creatively to the system.It is hoped that this paper can make some suggestions on the system's application at the theoretical level and make academic discussion on construction of the reorganization system in our country.