On The Legal Perfection Of China's Bankruptcy Administrator System

With the development of supply side structural reform and high-quality economic development,the bankruptcy administrator system,as one of the important contents of the bankruptcy law,has become the focus of theoretical and practical circles in recent years.China's enterprise bankruptcy law first introduced the bankruptcy administrator system in2007,which clearly stipulates that the bankruptcy administrator is a special institution designated by the people's court when the people's court accepts the bankruptcy application and under the supervision of the people's court and relevant subjects,which is specially responsible for managing the debtor's property,handling relevant affairs and performing legal duties in the bankruptcy procedure.Since the establishment of the bankruptcy administrator system,it has played an important role in ensuring the smooth progress of the bankruptcy procedure and the implementation of the bankruptcy law.However,in recent years,in the judicial practice,there are many problems such as the level of practice of the bankruptcy administrator is uneven,the division of duties is not clear,the performance of duties is not diligent and the distribution of remuneration is not reasonable.Therefore,in March 2018,the Supreme People's Court published the minutes of national court bankruptcy trial work meeting,pointing out the problems of the bankruptcy administrator system,and putting forward the requirements for improving the relevant system,so as to further improve the bankruptcy administrator system.On March 28,2019,the provisions of the Supreme People's Court on Several Issues concerning the application of the enterprise bankruptcy law of the people's Republic of China(III)were formally implemented.Although the provisions explained the application of relevant laws such as the exercise of creditors' rights in the court's hearing of enterprise bankruptcy cases,it was regrettable that the interpretation did not involve the relevant issues of improving the bankruptcy administrator system.This paper attempts to analyze and sort out the basic theory of the bankruptcy administrator system,deeply study the legislation and practice of the bankruptcy administrator system in China,andsummarize the problems existing in the bankruptcy administrator system in China;at the same time,based on the advanced experience of the bankruptcy administrator system in foreign countries,explore a legal path suitable for the development of the bankruptcy administrator system in China.In addition to the introduction and conclusion,this paper consists of the following four parts:The first part is about the basic theory of the bankruptcy administrator system.First of all,it introduces the concept and characteristics of the bankruptcy administrator,as well as the legal status and role of the bankruptcy administrator.Secondly,it expounds and analyzes the emergence and development of the bankruptcy administrator system,the function and value of the bankruptcy administrator system,and then points out the importance of further improving the bankruptcy administrator system in China.The second part is a concrete analysis of the current situation and existing problems of the bankruptcy administrator system in China.First of all,from two aspects of legislation and practice,it analyzes the current situation of the bankruptcy administrator system in China and the development level of the current bankruptcy administrator system.Secondly,it analyzes the bankruptcy administrator system of our country,and points out that there are problems in the selection mechanism,responsibility mechanism,compensation mechanism and supervision mechanism of the bankruptcy administrator system of our country,which need further innovation and optimization.The third part is about the legislative practice of foreign bankruptcy administrator system and Its Enlightenment to China.First of all,this paper analyzes the legislative practice of the representative bankruptcy administrator system in the United States and Germany.For example,the United States implements the bankruptcy trust system to better protect the interests of creditors;Germany implements the bankruptcy consortium representative system to improve the efficiency of bankruptcy work and ensure the smooth progress of bankruptcy proceedings.Secondly,by summing up the relevant legislative practice,this papersummarizes the enlightenment to the bankruptcy administrator system of our country,and elaborates the advanced experience in four aspects: scientific selection and appointment,clear responsibilities,reasonable remuneration and comprehensive supervision,in order to provide reference for the improvement of the bankruptcy administrator legal system of our country.The fourth part is about the suggestions on the legal perfection of the bankruptcy administrator system in China.First of all,in terms of the selection system,we should change the way of ideological innovation in the selection of management candidates.For example,we should adopt the competitive way to select the bankruptcy administrator,improve the selection standard of the bankruptcy administrator,and strengthen the professional ability of the bankruptcy administrator.Secondly,in terms of the responsibility system,we should further refine the responsibilities,authorities and performance content of the bankruptcy administrator,so as to provide the system guarantee for the diligent performance of the bankruptcy administrator.Thirdly,in the aspect of compensation system,we should establish a multi-level compensation decision mechanism for managers,establish and improve the compensation fund system for bankruptcy managers;thirdly,in the aspect of supervision mechanism,we should give full play to the positive role of the association of bankruptcy managers,clarify the division of supervision responsibilities between the court and the creditors' meeting,optimize the performance evaluation system,and better supervise the performance of duties of the bankruptcy managers.