Research On The Range Of Cross-border Insolvency Property

China’s outbound investment and foreign commerce are growing with the number of overseas assets and multinational companies rising.It brings a demand for cross-border bankruptcy which is company’s exit mechanism from international market.But there are many shortcomings in the existing cross-border bankruptcy rules.Because the bankruptcy laws of different countries do not stipulate the scope of bankruptcy property,it is easy to produce legal conflicts in cross-border bankruptcy.Cross-border bankruptcy procedure assistance mechanism is the main ways to solve the conflict of law.However,due to different idea,China’s current mechanism conservatively applies the law of property location.The lack of the treatment mechanism of creditors’ compensation property paid by debtor oversea makes it difficult to implement the universalism provisions and is not conducive to maintaining the fair repayment principle of the bankruptcy law.On the other hand,due to the insufficient theoretical research on the scope of cross-border bankruptcy property of enterprise groups,China’s existing cross-border bankruptcy rules do not cover the important part of cross-border enterprise groups.There is a demand for enterprise cross-border bankruptcy procedure assistance mechanism in China.For example,enterprise groups which are the same as VIE framework should conduct cross-border bankruptcy with the cross-border enterprise group bankruptcy procedure assistance mechanism.To dispose of cross-border bankruptcy of enterprise group,it is necessary to clear the basic theory on the spatial boundary of the scope of cross-border bankruptcy property of corporate groups.Next,China should know more about the expansion way of bankruptcy property to find out a way to meet the difference.Finally,China should pay attention to the implementation of the way of enterprise group bankruptcy scope focusing prerequisite condition and the center of main interest which are related with the scope of bankruptcy property.The text mainly has three parts to study the range of cross-border insolvency property:The first part is an overview of the scope of cross-border bankruptcy properties.First,the bankruptcy property in cross-border bankruptcy is defined,and the scope dispute of cross-border bankruptcy property is explained based on the scope of bankruptcy property in the UN model law.Secondly,the paper analyzes the reasons for the differences of the scope of property in cross-border bankruptcy,including differences in ideas,economic development level and foreign economic and commerce impact.Finally,it explains the significance of the settlement about the scope of cross-border bankruptcy property,that is,to build a rule system with the scope of property as the core,and to further safeguard China’s foreign interests through the establishment of cross-border bankruptcy system.The second part gives the theoretical basis and solution to the scope dispute of cross-border bankruptcy assets.Firstly,this paper introduces the expansionism and fixation doctrine in the time boundary,and analyze the resolution path of personal bankruptcy legislation.This paper introduces the dispute of universalism and territoriality and analyze the corrected universalism of the international application.Secondly,it introduces the ways to expand the scope of cross-border bankruptcy property of enterprise groups,including extension of liability,contribution orders,substantive consolidation,avoidance proceedings under the background of the group and the latest development of the international expansion of the property scope of enterprise groups,and analyzes the characteristics of different ways.We should pays attention to the similarities of the ways.Finally,the paper introduces the specific application of the implementation methods of cross-border bankruptcy property expansion ways,focusing on the admittance of enterprise group and center of main interest which are related with the property expansion conditions.With the goal of the expansion of cross-border bankruptcy property of the enterprise group,are analyzed,this paper refer to the establishment conditions of the group and the application of the center of the main interest of enterprise group.The third part presents the suggestions on the scope of cross-border bankruptcy property in China.Firstly,the paper introduces the status of legislation and practice.The initiation of personal bankruptcy legislation will make bankruptcy property idea more various.The existing cross-border bankruptcy rules lack the managing mechanism of creditors’ compensation property paid by debtor oversea,so the universalism cannot be implemented inbound.Secondly,according to the legislation and practice of cross-border bankruptcy property in China,targeted suggestions are put forward.In principle,the scope of bankruptcy property should be defined by the law of court where is the center of main interest.China should recognize the expansion ways of scope of enterprise groups’ bankruptcy property through the standard of substantive consolidation in China.The entry threshold for the cross-border bankruptcy procedure assistance mechanism of enterprise groups should be promoted.Next,pay attention to the admittance conditions of enterprise groups.The center of main interest should be appropriately combined by the business structure and relationship of the enterprise group.