On The Application Of Sale Reforming In My Country

The introduction of the reorganization system in China’s "Corporate Bankruptcy Law" embodies the transformation of the legislative purpose of the Bankruptcy Law from liquidationism aimed at protecting the interests of creditors to reconstructionism aimed at saving enterprise survival and focusing on the overall interests of society.At present,in China’s judicial reorganization practice,the bankruptcy reorganization system is not widely used because of its high cost and low efficiency.With the development of judicial practice,a new model of bankruptcy reorganization has emerged: sale-type reorganization,that is,the original debtor ’s corporate entity qualifications are not retained,but the business reorganization model is retained.Because it can not only guarantee the business value of the debtor’s enterprise,but also has the advantage of efficient procedures.Therefore,it is the best choice to solve the shortcomings of the current reforming mode.This article is divided into four chapters.The first chapter defines the concept of selling reorganization system.Starting from its definition and manifestation,it compares its differences with the bankruptcy and liquidation system and the merger and separation of companies to define its basic concepts.Then it analyzes the value advantage of the sale-type reorganization system,and emphasizes the necessity of its application.The second chapter introduces the current situation of the application of sale-type reorganization in China.First,it analyzes the legality of its application inthe legal system of China,and secondly analyzes its practical advantages and problems in practice through the reorganization case of Juchuang Company..Finally,it summarizes the legal obstacles that may arise in its application in China,such as review standards,information disclosure,and the role of the government.Chapter III introduces the legislation and enlightenment of the sale-type reorganization in the United States.Through the provisions of Article 363 and the summary of the Chrysler case,the characteristics of its application are obtained,including the efficient unplanned reorganization of the sale,the court review and approval Conditions,government functions,etc.Finally,it is compared and summarized with China’s legislation and practice to provide reference and reference for the applicable conditions and existing problems in the following restructuring of sales in China.Chapter 4 summarizes the above cases and problems,and designs specific rules applicable to sale-type reorganization in China.The applicable conditions include the applicable target and the situation that it is impossible to formulate a reorganization plan;set double standards for the applicable review standards: necessity review and substantive review,such as the sale plan and disclosure statement;at the same time,how to participate in the marketization of the government Reorganize suggestions.