| The execution of bankruptcy reorganization plan is the end-result of all reorganization activities,and the only way for reorganization plan to change from due state to actual state.In a sense,the execution of reorganization plan is directly related to the "life and death" of enterprises.China's Enterprise bankruptcy Law uses only six articles to regulate the implementation system of reorganization plan,which is very rough.If there is no clear legal provision,it will cause confusion in practice and thus affect the effect of implementation of reorganization plan.Runs counter to the original intention of the reorganization system.Although in March 2018,the Supreme people's Court published the Proceedings of the National Conference on bankruptcy trial One provision deals with some of the changes in the execution of the reorganization plan,but there are still many problems to be solved in the execution of the reorganization plan.In this paper,44 listed companies in the past five years are taken as research samples,and the relevant data are counted and analyzed.On this basis,many problems in the process of implementation of reorganization plan are discussed in order to establish a more scientific and reasonable system of execution of reorganization plan in the hope of establishing a more scientific and reasonable system of execution of reorganization plan.In addition to the introduction and conclusion part,this paper is divided into four parts.The first part studies the subject of execution of bankruptcy reorganization plan.Throughout the legislation of the countries or regions within and outside the territory,although there are different rules on the selection and appointment of the subjects of the reorganization plan most countries provide the possibility for the change of the main body of the reorganization plan.The mode of single debtor execution adopted in our country is rare and has disadvantages.The author suggests that the selection rules of the subject of bankruptcy reorganization plan should be changed to "when the debtor refuses to execute the reorganization plan,and when fraud occurs,the interests of creditors or other illegal acts are carried out." The administrator replaces the debtor and then performs the reorganization.The pattern of "stroke" is more reasonable.In addition,China's bankruptcy legislation also lacks relevant provisions on the subjects assisting in the execution of the reorganization plan.In order to ensure the smooth execution of the reorganization plan,it is suggested that the bankruptcy legislation should provide for the main body of the reorganization plan to assist the execution of the reorganization plan.The second part discusses the change of execution of bankruptcy reorganization plan.Through the legislative investigation of the countries or regions at home and abroad,it is found that most countries or regions make relevant provisions on the implementation of the reorganization plan,but China is a blank legislation,which is not in line with the needs of practical development.Although Article 19 of the Proceedings of the National Court of Insolvency trial Conference has a brief regulation on the change in the execution of the reorganization plan,it is still imperfect.Combined with the latest cases of judicial practice,this part mainly analyzes the substantive elements and procedural elements of the change in the execution of the reorganization plan,and puts forward some suggestions.The substantive elements include four aspects,that is,the reorganization program.Define the subject of the application for the change,the special cause of the change of the reorganization plan,the contents of the change of the reorganization plan,and the number of times of the change of the reorganization plan.As to the procedural elements,it mainly includes the following three aspects:first,the procedure of changing the reorganization plan should be the same as the procedure of voting on the original draft reorganization plan.Second,when voting on an amendment to the reorganization plan,the chairman of the creditors'meeting shall summon and preside,and only creditors whose interests have been adjusted or affected shall take part in the vote on the amendment to the reorganization plan.Creditors whose rights and interests have not been adjusted or affected are not required to participate,and the forms of participation may be diverse.Third,some of the paid creditors should follow the right to vote shall be exercised according to the amount of the creditor's right after deducting the part of the claim.In changing the reorganization plan,if the interests of common creditors are involved,they shall be given the right to vote.The third part discusses the period of execution of bankruptcy reorganization plan.This part discusses two aspects,one is the execution period of the reorganization plan,the other is the extension of the execution period of the reorganization plan.The issues related to the extension of the implementation period of the reorganization plan include the extension of the execution of the reorganization plan,the extension of the cause,and the extension of the number of times.Based on the legislative investigation of domestic and foreign countries and regions and the analysis of the relevant data of 44 listed companies in the last five years,the author suggests that the implementation period of the reorganization plan should be set to one year,and that the period of implementation of the reorganization plan should be set at one year.The upper limit of the extension time is set to 2 years and the number of extensions is set to 4 times.The regulation of extending the cause should adopt the legislative mode of enumerating and opening,and limit the cause of prolongation to the external objective reason.The fourth part expounds the supervision of the execution of bankruptcy reorganization plarn.This part discusses the supervision of bankruptcy reorganization plan from four aspects.The first is the subject of supervision over the implementation of the reorganization plan.The subject of supervision of reorganization plan in our country should be perfected."When the debtor executes the reorganization plan,the administrator oversees the execution of the reorganization plan;when the administrator replaces the debtor,it is supervised by the court".The second is the change of the subject of supervision over the implementation of the reorganization plan.When the administrator fails to perform,cannot perform or improperly performs his supervisory duties,the creditor committee,debtor or other interested person shall have the right to apply to the court for the replacement of the supervisory subject.Third,the reorganization plan to carry out the functions,functions and obligations of the subject of supervision.Future legislation should add that the administrator has the right to ask the debtor to report on its execution and financial situation on its own initiative;to correct the debtor's misconduct or wrongdoing;and to have the right to investigate;Apply for change of reorganization plan,the right to change the subject of execution and the right to know the important matters in advance,etc.The obligations of managers shall be specified.The fourth is the construction of the period of supervision over the implementation of the reorganization plan.It is reasonable that the supervision period of reorganization plan is shorter than or equal to the execution period of reorganization plan. |
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