Use Hong Kong As A Reference To Build A Personal Bankruptcy System In The Mainland

The personal bankruptcy system means that when a natural person as a debtor cannot pay off its due debts,the court will declare its bankrupt according to law,liquidate,distribute or adjust its debts,exempt its residual debts and determine the parties ' Legal norms of rights and obligations.Mainland China has a long-standing dispute over the establishment of a personal bankruptcy system,but the current bankruptcy law still excludes individuals from the scope of bankruptcy subjects.With the continuous development of the market economy and credit system,the construction of the personal bankruptcy system has become a possibility,and it can also provide a new solution to the "law enforcement difficulty" and other problems in practice.The construction of the personal bankruptcy system cannot be a castle in the sky,so this article selects Hong Kong with a relatively complete personal bankruptcy system as a reference,combs the legislative history and implementation status of the personal bankruptcy system in Hong Kong,introduces its main content and analyzes the performance of the Hong Kong personal bankruptcy system.These enlightenment to us: We should setting up an official bankruptcy management agency to guarantee the implementation of bankruptcy procedures;restricting bankrupts through the bankruptcy loss of rights system;ensuring the interests of creditors and the rights of the debtors through the system of free property;giving rebirth to the bankrupt through the bankruptcy exemption system and bankruptcy recovery system.At the same time,according to the different legal and economic backgrounds of mainland China and Hong Kong,this paper analyzes which of the above-mentioned institutions and systems can be applied in mainland China and which cannot be applied.After understanding the advantages of the personal bankruptcy system in Hong Kong,this article explores the necessity and feasibility of establishing a personal bankruptcy system in mainland China in view of the lack of personal bankruptcy system in the mainland China.It's necessary because it can not only meet the requirement of economic development in mainland China,but can also make up the shortcomings of existing enforcement measures effectively.It's also feasible because the existing personal credit system in mainland China can provide environmental support,and existing provisions can provide a legal basis,such as the mandatory enforcement in the Civil Procedure Law.Based on the above reasons,on the premise of combining the enlightenment of the personal bankruptcy system in Hong Kong and the actual situation in mainland China,this article makes a brief assumption on the construction of the personal bankruptcy system in the mainland: We should establish a multi-level official bankruptcy management agency to ensure the implementation of bankruptcy procedures;and based on the actual situation in the mainland,we should design the main systems of personal bankruptcy,including the subject system,the system of disqualification of bankruptcy,the freedom property system,the bankruptcy discharge system and the bankruptcy recovery system.We should also improve the supporting systems of the system of personal bankruptcy.A good system can protect the interests of creditors better,and can also give debtor who is honest and unfortunate the chance to rebirth.