Research On The Bankruptcy Exemption System For Natural Persons

The bankruptcy exemption system for natural persons has become relatively mature in Europe,the United States and other countries,and China’s exploration of the system is still in its infancy,and there are great controversies in both theory and practice.Since 2019,Shenzhen,Zhejiang and other regions have carried out pilot work on bankruptcy of natural persons,and after nearly 3 years of exploration,preliminary results have been achieved.The legislative and practical experience of the pilot areas provides a reference for the subsequent establishment of the bankruptcy system for natural persons in China.On March 1,2021,the Shenzhen Special Economic Zone Individual Bankruptcy Regulations came into effect,which is the first legislation on the bankruptcy exemption system for natural persons in China,marking that China’s exploration of the bankruptcy system for natural persons has entered an era of "having laws to rely on".So far,China has no national legislation on the bankruptcy exemption system for natural persons,and when the debtor is insolvent,it cannot break away from the debt and return to life through the bankruptcy exemption system.It is justifiable for "honest and unfortunate" debtors to return to society through bankruptcy exemption,and the bankruptcy exemption system for natural persons is conducive to fair repayment of creditors’ claims and is conducive to the debtor’s exemption from being reduced to a social burden and consuming social resources.Although many places in China have carried out practice on the bankruptcy exemption system for natural persons,there are many problems that hinder the establishment of the bankruptcy exemption system for natural persons.Through the analysis of existing problems and the combination of local pilot practices,this thesis draws on the experience of extraterritorial legislation to provide feasible suggestions for the establishment of a bankruptcy exemption system for natural persons in China.This article starts from four parts and discusses the necessity of establishing a bankruptcy exemption system for natural persons,the problems faced and the measures to solve them.The first part,an overview of the bankruptcy exemption system for natural persons,briefly introduces the definition of bankruptcy of natural persons,the concept of bankruptcy exemption of natural persons,the similarities and differences between the bankruptcy exemption system of natural persons and the bankruptcy exemption system of legal persons,basically grasps the system from a macroscopic point of view,and theoretically explores the necessity and legitimacy of the bankruptcy exemption system of natural persons,so as to provide theoretical support for the subsequent legislation and practice of bankruptcy exemption of natural persons in China;the second part focuses on the practical exploration of The bankruptcy exemption system for natural persons in China,and summarizes the local practical experience.He also pointed out a series of problems faced by China in establishing a bankruptcy exemption system for natural persons.The third part introduces the bankruptcy exemption system for natural persons in foreign countries and related legislation,draws on extraterritorial experience,makes foreign uses,and accumulates experience for the establishment of China’s natural person bankruptcy system;the fourth part,based on the basic national conditions,combines the actual problems faced by the bankruptcy exemption system for natural persons in China’s judicial practice,and refers to relevant legislation and practical experience at home and abroad to provide constructive suggestions for the construction of China’s natural person bankruptcy exemption system.