The Legal Regulation Of The "Zombie Enterprise" Bankruptcy Reorganization

In the nineteen major political reports,general secretary Xi Jinping stressed the need to comprehensively implement the new concept of development and deepen the structural reform of the supply side.The primary task of supply side reform is to clean up "botnets",which rely on bank loans and government subsidies to maintain operation,unable to turn around deficits and profits by themselves,and for a long time are in a state of deficit.The existence of "botany enterprise" has hindered the development of industry,aggravated overcapacity,wasted social resources,and reduced the allocation rate of market resources.The system of bankruptcy reorganization is the most effective and active system to clean up the "zombie enterprise".The bankruptcy reorganization system allow enterprises to obtain a chance of rebirth,the creditor’s rights and liabilities relations in it does not destroy the enterprise survival state,while maintaining the economic order and protect the business interests of the legitimate rights and interests of people,both to improve business awareness and promote market competition.The reorganization of the "zombie enterprise" isThe key issues of the study after the promulgation of the new bankruptcy law.This paper analyzes the problems existing in the reorganization system based on the "botany enterprise" cleaning up,and analyzes how to improve the system so as to ensure the success of the bankruptcy reorganization of the botnets.This paper mainly analyzes the problem of the system in the bankruptcy reorganization of Botany enterprises,and discusses the imperfect system of reorganization by analyzing the current situation of domestic and foreign botnets and the examples of reorganization.From the following points: first,we study the status of "zombie enterprises" at home and abroad,and discuss the methods to define "zombie enterprises".Clarify the meaning of the reorganization system.Second,through the reorganization of the example,analysis of the "zombie enterprise" in the reorganization of the problem.From these aspects,first,we study the boundaries between the government and the "zombie enterprises" and what roles the governmentplays in the "botany enterprise" bankruptcy reorganization.Secondly,we discuss the problems in the reorganization system,including: the application system in the start-up process,the bankruptcy administrator system in the reorganization process,the debt to equity swap mechanism in the reorganization measures,the voting system in the reorganization plan,and the compulsory approval system with the law enforcement force.Thirdly,it is difficult to analyze the "zombie enterprise",which is difficult to reorganize the market.Third,in view of the problems raised and combined with the national conditions of our country,some suggestions on the need to be perfected in the new bankruptcy law are put forward.It is expected that the bankruptcy reorganization of the "zombie enterprise" can be successfully implemented,clearing obstacles for the transition of the national economic structure and removing excess capacity.