Research On The Realization Of Priority Of Construction Project In Bankruptcy Procedure

As the number of bankruptcy of real estate enterprises is increasing,the number of disputes over the confirmation of priority claims in bankruptcy accepted by the courts nationwide is soaring,and it is increasingly urgent to solve the problems surrounding the realization of the priority right to receive priority of construction project in bankruptcy procedure.Summarizing the relevant cases in recent years,the problems are mainly reflected in the administrator’s non-recognition,under-recognition and difficulty in recognizing the priority claims in bankruptcy proceedings,as well as the conflict of bankruptcy claims,resulting in the rights not being fully realized even if they are recognized.The reasons for aforementioned problems are the complex characteristics of bankruptcy in construction industry,the lack of supervision of bankruptcy procedures,the controversial application of law in the review of rights,and the unclear subordination of each right to liquidation.Dissecting the surface,the core reason is that there are differences in the nature of priority of construction project and unclear positioning of bankruptcy claims.Drawing on the experience of overseas priority system,combining with China’s legal system and analyzing the value of bankruptcy law,we can see that priority of construction project as a legal priority is protected in bankruptcy proceedings,which can guarantee its effective and efficient realization in bankruptcy proceedings to the greatest extent.Based on the position that priority of construction project should be protected by inclination,combined with the current legal system and judicial status quo in China,it is possible to establish a simple and publicized priority registration system,improve the bankruptcy administrator’s claim confirmation system and avoidance exercise system,standardize the examination rules of the right composition conditions,and determine that priority of construction project in the bankruptcy procedure is only inferior to the consumer’s right to purchase a house and has priority over other rights.In order to solve the above-mentioned problems,the original purpose of the legislation is to protect the interests of the right holders and to guarantee the stable development of the construction industry economy and fairness and justice.