The Compulsory Approval System For The Reorganization Plan Was Improved

The reorganization system is one of the core systems in the bankruptcy procedure of our country which aims to save the difficult enterprises.The whole process of its operation mainly revolves around the four parts: making,voting,approving and executing the reorganization plan.At the approval stage,compulsory approval is a more special form than normal approval.It means that even if the draft reorganization plan is not adopted by a vote of the entire voting group,the competent court may decide to enforce the approval of the draft reorganization plan to advance the process of reorganization of the enterprise,so as to promote the realization of the goal of maximizing social benefits,provided that the principles and standards set by law are met.The system of compulsory approval is a kind of forced intervention of the state to the enterprise autonomy,when the adoption of reorganization plan is stalled due to various internal and external factors,the rational application of compulsory approval system can effectively improve the efficiency of reorganization,timely rescue of difficult enterprises.However,the reorganization procedure of our country simply introduces the concept of compulsory approval,which has no detailed explanation and explanation on how to understand and understand the system and how to apply it reasonably,and lacks the guarantee of due process,which leads to the difficulty of applying the compulsory approval system correctly in practice,thus encroaching on the interests of creditors,and the value of its existence is difficult to realize.Therefore,the degree of integration between compulsory approval system and our country’s economic system and judicial practice needs to be improved,and the bankruptcy law of our country urgently needs to perfect it from the aspects of system construction and procedure guarantee.Firstly,this paper analyzes and compares the case of saiwei reorganization in jiangxi and yaxin reorganization in suzhou,and finds out the uncertainty of the application of compulsory approval system in china.Secondly,combing the basic theory of compulsory approval system,on the one hand,combining the developmentorigin of compulsory approval system to define its connotation,on the other hand,it analyzes the legitimate value of the system to maximize social benefits,improve the efficiency of reorganization and solve the problem of creditor hitchhiking in the process of reorganization.Thirdly,combining with the judicial practice of our country and the legitimate value of compulsory approval system,this paper analyzes The system reflects a series of problems in basic principles and standards,relief mechanism and supervision mechanism,such as the broad and uncertain nature of basic principles and standards,the unsound hearing procedure and second consultation procedure,the lack of creditor’s right to know,the excessive government intervention,and so on,and analyzes the causes of these problems.Finally,in view of the specific problems existing in the application of compulsory approval system in our country,on the basis of drawing lessons from the experience of extraterritorial legislation,this paper puts forward some suggestions to perfect the principles and standards of compulsory approval system,establish and perfect relief mechanism and supervision mechanism.