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Research On Recognition And Assistance In Cross-border Insolvency Proceedings

Posted on:2021-01-23Degree:MasterType:Thesis
Country:ChinaCandidate:Y N QiFull Text:PDF
GTID:2416330647954374Subject:International law
Abstract/Summary:PDF Full Text Request
Cross-border economic activities are increasing with the continuous development of economic globalization,and the issue of cross-border bankruptcy has also attracted widespread attention from the international community.Many international organizations and countries have proposed different solutions to cross-border bankruptcy,among which the dominant results are the Model Law on Bankruptcy formulated by the United Nations Commission on International Trade Law(The UNCIRAL Model Law or Model Law)and the EU Insolvency Regulations formulated by the European Union,and both of them reflect the development trend of cross-border insolvency systems to a certain extent,and many countries have also used their experience to build their own national legislation.In fact,both in the theoretical and practical circles,there are still many disputes on cross-border insolvency issues,especially the recognition and assistance.Recognition and assistance in cross-border insolvency proceedings means that the courts of one country make the necessary judicial review of applications made by other countries in accordance with the review standards set by legislation,and then decide whether to recognize the foreign insolvency proceedings and decide whether to provide assistance and the way and on which degree to provide assistance.Both of The UNCITRAL Model Law and EU Bankruptcy Regulations spend most of the space for the recognition and assistance of cross-border insolvency procedures,and many countries have explored this in their judicial practice.This article analyzes the theoretical basis and system requirements of the cross-border insolvency and points out the deficiencies in the current system of recognition and assistance of cross-border insolvency procedures in China;then,elaborates the requirements and modes of assistance for cross-border insolvency procedures and contracts contrasted one by one and analyzes how they are built by examples.Finally,this article demonstrates the necessity to establish a complete recognition and assistance system for cross-border bankruptcy procedures through combination with the current international situation and China's development strategy.Considered that Chinese legislation on cross-border bankruptcy system was late and lacked judicial practice experience,this article puts forward some suggestions for establishing a recognition and assistance system for cross-border insolvency proceedings based on the special national conditions of "one country,two systems" and other actual conditions.Although The UNCITRAL Model Law has its advantages,and been adopted by most countries,it is not necessarily a legal framework suitable for China's adoption Considering China's economic status and specific national conditions,and combining with the concepts related to cross-border bankruptcy proposed in the“One Belt and One Road" initiative,we will gradually improve our cross-border bankruptcy systemChapter 1 outlines the background and current status of the recognition and assistance system for cross-border insolvency proceedings.First I introduce the theoretical basis of extraterritorial effectiveness of bankruptcy proceedings and clarify the background of the recognition and assistance system of cross-border insolvency proceedings.And then I introduce a sketch of the UNCITRAL Model Law EU Regulations and Chapter 15 of the US Bankruptcy Code.Finally I analysis and demonstrate of the status and deficiencies of the recognition and assistance system of cross-border insolvency procedures in China.Chapter 2 analyzes the recognition requirements of cross-border insolvency proceedings.They are the subject and object of the application,the court enjoying jurisdiction,the legitimacy and fairness of the bankruptcy process,the exception of public policy,and the principle of reciprocity.And then I elaborate and compare the recognition requirements and the influencing factors of cross-border bankruptcy procedures in legislation and events in different countries.Chapter 3 is about the assistance of cross-border insolvency proceedings.The assistance of cross-border insolvency proceedings is categorized into three categories temporary relief before recognition,automatic relief after recognition,and relief according to discretion.In this part I explaining the measures included in three categories and the scope of application of various types of relief.Chapter 4 is about constructions of recognition and cooperation system of China's cross-border insolvency procedures.It briefly explains the reasons for the status quo of China's cross-border bankruptcy legislation,and then demonstrates the necessity of building a recognition and collaboration system for Chinese cross-border bankruptcy procedures,and discusses some suggestions to build an impeccable recognition and collaboration system for China's cross-border bankruptcy procedures.
Keywords/Search Tags:Cross-border insolvency proceedings, Recognition and assistance, Center of Main Interest, Automatic relief, Separation mode
PDF Full Text Request
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