On The Application Of Bankruptcy Interest Cessation Rules

Article 46(2)of the enterprise bankruptcy law of China stipulates that:"the interest accruing on claims with interest shall cease from the time the bankruptcy application is accepted."This provision is referred to as the "bankruptcy interest cessation rule"According to the rules of bankruptcy to cease,enterprises in the court accepts the bankruptcy petition interest after liquidation responsibility no longer,can lead to decrease in the scope of bankruptcy claims,this part of the right of the cut is in line with the legislative intent of the law,namely fair and clean up the credits and debts,protect the legitimate rights and interests of creditors and debtors,maintaining social stability is worth thinking about.In the process of actual judicial cases,the understanding of the application of this rule by judicial staff and some scholars is controversial,which is mainly reflected in whether the interests of creditors and relevant parties can be maintained.In this paper,first of all,on the basis of consulting the relevant cases,found that the bankruptcy cessation rules in the judicial application of a large number of differences.By the typical cases are divided into case and interest of the ruling ruled that the case for this kind of classification comparison highlighted due to cease rules apply different judicial cognition and appear contradictions and inconvenience to judicial work,also raises the article to research question,namely enterprise bankruptcy after accepting stop plan breath for creditors and interested people.Based on the problems have been found necessary to cease bankruptcy rules of basic theory for further study,including the introduction of the basic connotation,cease bankruptcy rules legislation evolution,the study of the production of the rules in our country and from the point of its legislative evolution,and it has ever been a'bankruptcy law"is only the rules applicable limits the bankruptcy liquidation procedures,the present of the enterprise bankruptcy law applies to both its corporate restructuring,settlement and liquidation procedures,this is more conducive to maintain the interests of creditors.ln addition,through the international comparison with Germany,Japan,the United Kingdom,the United States and other countries on the application of this rule,found that China's current legislation lag,should actively make adjustments and changes,learn from the advanced experience of other countries,the bankruptcy application after the interest into the inferior creditor's rights to be paid.in addition,there are obvious legislative defects in China's bankruptcy cessation rules.The principle of balance of interests in bankruptcy is the principle of fairness,which also includes the principle of equality of creditor's rights.lt is a basic principle that should be applied in all the proceedings of the bankruptcy law.However,by comparing the application of the cessation rule to ordinary creditors and secured creditors,it is found that the cessation rule of bankruptcy is in conflict with the principle of balance of interests of bankruptcy,which further indicates the irrationality of the existence of the cessation rule of bankruptcy.In spite of this,there are still two kinds of theoretical disputes in the academic circle.Some of them support the affirmation of interest acquisition and affirm the legitimacy of interest acquisition.While others are in favor of obtaining interest and the negative view is against creditors' declaration and obtaining this part of interest,in this part of the article one by one to hold the negative view of interest acquisition to refute the argument,so as to show that the position in favor of creditors to obtain this part of interest.This paper finds some problems in the application of bankruptcy cessation rules in our country,and puts forward some Suggestions for the purpose of truly and fairly paying off creditor's rights.This includes three aspects.Firstly,it is suggested to delete this stipulation directly.Secondly,it is suggested that the settlement of this part of interest can be included into the scope of the settlement of inferior creditor's rights by learning from other countries.At last,it is emphasized that the technical design of legislation should be emphasized in the following legislation level,so as to make clear the unified time cut-off point and unified interest calculation rate for creditors,which will bring great convenience to the bankruptcy liquidation procedure and judicial trial work.