Institutional Dilemma Of Pre-reorganization And Its Solution

Today,with the rapid development of China’s market economy,the number of enterprise entities has increased significantly,but a large number of enterprises are facing the dilemma of being eliminated due to their inability to adapt to the market.Therefore,the state has issued the enterprise bankruptcy law of the people’s Republic of China to effectively manage and standardize the management mechanism of enterprises exiting the market,in which bankruptcy reorganization is used as an effective means to rescue troubled enterprises,It can not only maximize the realization of the rights and interests of creditors,but also bring a glimmer of vitality to the enterprise economy on the verge of bankruptcy,which plays an important role in maintaining social stability.In parallel,there is out of court reorganization.This system gives relevant subjects the right to carry out free negotiation outside the court and ensures the party’s autonomy.These two different ways provide choices for enterprises to get out of trouble.However,the bankruptcy reorganization system has the disadvantages of time-consuming and low efficiency,and the free reorganization outside the court is lack of coercion as a guarantee.Under this background,the pre-reorganization system came into being.In the 1990 s,the United States combined the free reorganization of out of court debt with the judicial reorganization inside the court,and then it became a new bankruptcy prevention mechanism generally accepted by all countries in the world.It not only gives play to the advantages of out of court free reorganization and in court bankruptcy reorganization,but also makes up for their defects.When the troubled enterprises are on the verge of bankruptcy,the pre-reorganization system provides a new direction for saving the enterprises.Although pre-reorganization system has been widely recognized in the world and in the United States,Britain,Europe and some Asian countries on a trial basis,but compared to outside pre-reorganization system,not yet on the law of pre-reorganization system in China,this is obviously not conform to the requirements of the new development of socialist market economy in China,so the way to the enterprise bankruptcy law making modification time,While constantly improving the reorganization system,we should pay attention to the possibility of the application of the pre-reorganization system,improve it under judicial exploration and prepare for the rise to legislation.This paper takes the system design of pre-reorganization as the theme,fully reveals the value of pre-reorganization system itself from the two aspects of procedure and entity,and finds its imperfections through in-depth analysis of the practice of pre-reorganization abroad and the current development of pre-reorganization in China.Then from the construction of legislation to the selection of pre-reorganization mode and the specific rules of pre-reorganization system design to find a new way to build the bankruptcy pre-reorganization system.