The Study On Chinese Bankruptcy Revocation Rights System

Bankruptcy revocation right is a right granted by law to the bankruptcy administrator.It is a right to revoke the act of the bankrupt debtor against the interests of creditors within the time limit stipulated by law after the beginning of the bankruptcy proceedings.With this right,the bankrupt enterprise has the means of remedy for its ACTS of malicious evasion and infringement on the interests of creditors.First of all,this paper starts with the general theoretical problems of bankruptcy revocation right,explains the concept and origin of bankruptcy revocation right,fundamentally understands the origin and performance of bankruptcy revocation right,and understands the important and indispensable significance of bankruptcy revocation right.The creditor's right of revocation also exists in the civil law.Through the comparison between the revocation right in the civil law and the revocation right in the bankruptcy law,the similarities and differences before the two rights are understood.Secondly,this paper expounds the revocable act of bankruptcy revocation right,and understands the pattern of fraudulent conveyance and biased liquidation so as to better distinguish these two ACTS in practice.The consequence of bankruptcy revocation right will invalidate all the actions which endanger all creditors and reduce the liability property of the bankrupt debtor within the critical period.Based on the above analysis of the bankruptcy revocation right,the deficiency of China's bankruptcy revocation right system is reflected,and the perfection of the system is concluded to build a safe and stable trading environment.In practice,if there is no good application of bankruptcy revocation right and no crackdown on this kind of malicious debt evasion,China's economy and society will be hit,and enterprise credit will be hard to maintain and exist,which will be a very terrible situation.The provisions of China's bankruptcy law on the system of bankruptcy revocation rights are of great significance to further standardizing the bankruptcy procedures of enterprises,fairly paying off creditors' debts and realizing the protection of creditors' and debtors' legitimate rights and interests.This paper systematically analyzes the status quo of China's bankruptcy revocation right,points out the defects and deficiencies of China's bankruptcy revocation right,and studies and advances how to improve China's bankruptcy law,so as to better realize the function of the bankruptcy revocation right system and maintain the healthy and orderly development of socialist economy.