Research On Exempt Property System In Personal Bankruptcy

With the continuous development of China’s economy,natural persons often face situations of insolvency when participating in business activities.As a special system in the Personal bankruptcy system,the establishment of the exemption property system is based on the continuous improvement and development of China’s human rights theory.When dealing with Personal bankruptcy cases,attention should be paid to humanitarian considerations,so the exemption property system has its significance and value.It needs to take into account not only the basic living conditions and quality of the debtor and its dependants after bankruptcy,but also the future development of the debtor.The exemption property system plays a very important role in China’s Personal bankruptcy system.At present,the Regulations of Shen Zhen Special Economic Zone on Personal bankruptcy has stipulated the composition of exempted property,but the provisions are still too general and there are still many problems.For example,the Regulations on Personal bankruptcy of the Shen Zhen Special Economic Zone did not clearly stipulate the specific sub items of the exempted property,nor did it stipulate whether the newly acquired property of the debtor belongs to the exempted property after the commencement of the bankruptcy proceedings,nor did it stipulate the procedures for different application subjects to apply for exemption of property.Therefore,it is possible to draw on the practices of other countries with mature experience,while also taking into account the actual situation in China and the traditional thinking of the public,to clarify the specific sub components of exempt property,and to regulate the procedural issues of different applicants exercising exempt property rights,so that the exemption property system can more fairly safeguard the rights of creditors,debtors,and their dependents,and better maintain social harmony and stability.This article is based on the actual situation of China’s economic and social development.By comparing the legislation of exemption property systems in other countries abroad,and using research methods such as case analysis and comparative research,it is divided into four parts for discussion.The core and difficulty of establishing the exemption property system in China is how to define the scope of exemption property,as it is related to balancing the conflict of interests between creditors and debtors.It also deeply analyzes a series of problems in the current Regulations of Shenzhen Special Economic Zone on Personal bankruptcy,such as the lack of clear and specific provisions on various sub items of exempted property,the provision of only the procedure for the debtor to apply for exemption from property,the lack of clear procedural provisions for other application subjects,the unclear definition of the newly acquired property of the debtor after the commencement of bankruptcy proceedings,and the imperfect establishment of the exemption property system.Using the comparative analysis method,this thesis analyzes the advantages and disadvantages of different legislative methods by comparing the legislative methods of other State immunity ’exemption of property provisions and the specific sub item composition of exempted property,and analyzes them in combination with the actual situation in China,and proposes that the legislative method of defining the scope of exempted property in China can be enumeration+generalization,This can reduce the uncertainty of the scope of exempt property and allow judges to exercise their discretion based on different cases to ensure fairness.And by drawing on foreign institutional regulations and combining with the actual situation in China,the specific sub components of China’s exemption property system need to be determined,and each sub component needs to be restricted.With the continuous development of China’s economy and society,there has been widespread controversy over whether some movable property can be included in the scope of exempt property.This article analyzes the definition of life insurance,pension,and animal disputed movable property based on the actual situation in China,and proposes reasonable suggestions suitable for China.The procedural issues of applying for exemption from property rights for different applicants can refer to the provisions of China’s Enterprise Bankruptcy Law,such as the procedures of application and objection.At the same time,analyzing the disposal of exempt property,it is believed that China’s exempt property system should clarify that the debtor’s exempt property rights cannot be voluntarily waived;Specific analysis should be conducted on whether the debtor can use exempted property to repay the debt;For the debtor’s conversion of exempted property,it should be determined whether the debtor has fraudulent intent when implementing the conversion;The disposal of security interests borne by exempted property should allow the secured party to exercise a security right over a certain proportion of exempted property.This article mainly provides some suggestions on the rule level for the construction of the exemption property system in China’s Personal bankruptcy from the above aspects.