On Legal Application Of The International Bankruptcy

As the economic globalization is developing at the top speed,there is more and more international bankruptcy cases.The law conflict is inescapable with so much economic interest in it and it is always related to an independent sovereign country's public policy,and vast differences are exist in legalization systems and lacking of rules in dealing with this kind of cases and we also have no perfect international contention with this problem.So it has both the academic value and practical significance to solve the law application problem in international bankruptcy very usefully and protect both the foreign creditors' and native creditors' legitimate interest and safeguard the normal order of international economic and trade.This essay start with the value pursuit and legal basis,then we discuss and analysis the seven core factors in the law application system of international bankruptcy such as bankruptcy jurisdiction?elements of bankruptcy?bankruptcy proceedings?bankruptcy credit?bankruptcy estates?insolvency management and extraterritorial effect of insolvency proceedings,and systematically studied the present practical patterns to find there advantages and weaknesses.Then this essay deeply researched the current situation and existing problems in our country's law application system of international bankruptcy and point out the weaknesses in legislation and justice and international cooperation.To solve this problem,our country should strengthen the bankruptcy law coordination between every legal family in our country,promote the establishment of the regional convention on the international bankruptcy system,build bilateral international convention on bankruptcy with some key states such as United States?Britain and Germany,at the same time actively lead and participate in the development of international bankruptcy rules.