Research On Legal Regulation Of Personal Bankruptcy Fraud

The personal bankruptcy system,which sprouted in ancient Rome,has undergone the conceptual transformation from guilt to exemption,and nowadays exemption has become one of the core systems of the personal bankruptcy system.Due to the dominance of the concept of guilt in bankruptcy in China for a long time,the personal bankruptcy system will undoubtedly encounter resistance to its application at the beginning of China’s legislation,which is mainly reflected in the public’s fear of fraudulent behavior of debtors.Based on this,how to regulate personal bankruptcy fraud is the focus and difficulty of China’s personal bankruptcy legislation.Although China lacks experience in the legal regulation of personal bankruptcy fraud,the courts around the country have gradually formed regulations on debt liquidation in relation to bankruptcy fraud in the practice of debt liquidation,among which the "Guidelines for the Centralized Liquidation of Personal Debt(Personal Bankruptcy-like)in Zhejiang Courts(for Trial Implementation)" has been implemented with obvious effects.2020 saw the publication of the "Scholars’ Draft Recommendations on Personal Bankruptcy Law" by the academia,and 2021 saw the promulgation of the "Shenzhen Special Economic Zone Personal Bankruptcy Regulations",in fact,China has begun the initial exploration of legal regulation of personal bankruptcy fraud.However,looking at the current status of each regulation legislation,China’s personal bankruptcy fraud legal regulation has deficiencies in both substantive provisions and procedural regulation,coupled with the supporting system to be improved,there is an urgent need to build a legal regulation system of personal bankruptcy fraud.By effectively learning from overseas personal bankruptcy legislation and taking into account China’s national conditions,we believe that,in terms of substance,we should add principle provisions to the situation of non-exempt debtors,raise the limitation of exempted property,strengthen the occupational restriction and improve the system of bankruptcy administrator;in terms of procedure,we should raise the threshold of bankruptcy application,improve the pre-recovery coercive measures,distinguish the commencement conditions of bankruptcy liquidation and reorganization,and improve the retrospective system after the end of bankruptcy proceedings.In terms of the supporting system,it strengthens the criminal law of personal bankruptcy fraud,comprehensively constructs the personal credit system,improves the personal property registration system,establishes the debt counseling system,and improves the social security system.