Research On The Legal Issues Of Self-management Of Debtors In The Bankruptcy And Reorganization Procedures Of Enterprises In My Country

In the complex market economy environment,enterprises occupy the dominant position of market economy in national economic activities.The success of enterprises determines the development of a country's economy.Therefore,in order to reduce the waste of social resources,reduce the loss of creditors and avoid enterprise bankruptcy,it is particularly important.Most countries have established bankruptcy reorganization system based on the consideration of economic development.In 2007,in the bankruptcy law of our country,the bankruptcy reorganization procedure was first established in the legal system of our country.In the reorganization procedure,the reorganizer is responsible for the reorganization affairs of the debtor's enterprise.So far,China's current "bankruptcy law" has been implemented for 13 years,and the advantages of enterprise bankruptcy reorganization system have been constantly reflected,which has promoted the good development of China's market economy.There are two systems for the administration of enterprise bankruptcy and reorganization in China,among which the administrator system is the most frequently implemented system,while the debtor self-management system is relatively less used.In terms of the current market development in China,both systems have the value of existence.However,in the current bankruptcy law of our country,only two simple provisions are introduced to the debtor's self-management system,which leads to the lack of specific norms that can be applied to the system,and there are big problems in the practical operation.On the one hand,China's legal provisions are too general and not detailed,lack of specific standards for approving the debtor's self-management application,and are not clear about the rights and obligations of the debtor's self-management,which is not conducive to the trust and approval of the creditors of the reorganization plan;On the other hand,the debtor's application for self-management must be approved by the court,and the lack of legal provisions will cause the court to worry about the implementation of self-management in the reorganization of troubled enterprises.Under the existing two systems,of course,the court will prefer the management of the administrator.For enterprises in distress,the control right can be retained under the debtor's self-management system,but when it is not approved by the court,it has to use another system to restructure,resulting in the loss of control right of the enterprise.Therefore,in order to avoid this situation,the debtor's management would rather let the enterprise fall into crisis and miss the most favorable opportunity for the enterprise to restructure,Also not willing to take the initiative to ask for bankruptcy reorganization procedures to save the enterprise.Therefore,in order to achieve the purpose of better saving the troubled enterprises,improving the debtor self-management system plays an important role.This paper takes the debtor self-management system as the research content,starting from the characteristics and value of the system,introduces the development process of establishing the system in China,and analyzes the following problems under the current bankruptcy legal mechanism in China: in terms of the initiation and termination procedures of self-management,Lack of specific standards for approving the debtor's application for self-management and termination provisions after the implementation of the system;In the aspect of self-management supervision,there is no clear means and measures for the manager to exercise the supervision power,and the current supervision mode of the manager and the court is not well coordinated and operable;In terms of the operation of rights during the period of self-management of the debtor,the legal status of the debtor during the period of self-management is not clear,and the provisions on the exercise of rights are too general;In terms of the legal liability of the relevant personnel during the period of self-management,the provisions on the legal liability of the administrator and the debtor's self-management personnel are still imperfect.In view of the existing problems,the author draws lessons from the relevant provisions of the United States,Germany and Japan on the debtor's self-management,and makes clear the approval and termination mechanism of the debtor's self-management,formulates the measures and means of the administrator's supervision,and constructs a multi-party coordinated self-management and supervision system,establishes the legal status and rights of the debtor's self-management,and puts forward some suggestions In order to improve the debtor self-management system in our country,we should clarify the legal liability of the relevant personnel during the self-management period.