A Study On The Authorities Of Bankruptcy Administrators In China

The design of bankruptcy administrator system determines whether the law ofbankruptcy can be carried out smoothly, thus proves the importance of bankruptcyadministrator system in the law of bankruptcy. In the bankruptcy proceeding, thebankruptcy administrator is mainly responsible for the management and disposition ofbankruptcy property, responsible for deciding whether the debtor’s business continuesto operate or to develop, and responsible for drafting and implementing thebankruptcy program, etc. China promulgated the Law of Enterprise Bankrupty,establishing the bankruptcy administrator system, which had a great significance inthe process. But due to the late start and lack of practical experience, there are stillsome shortcomings in legislation. The core problem in the system is the authority ofbankruptcy administrator. After the expressly identifying the bankruptcyadministrator’s legal status, briefly introducing the bankruptcy administrator’sauthority, the thesis briefly analyzes the regulations of bankruptcy administratorsystem and those shortages in China:the insecurity of the investigative power of thebankruptcy administrator, the regulations’ incompleteness of the bankruptcyrevocation, the excess authority to management and disposition to the debtor’sproperty, and the unreasonable restriction of loan right. Finally, according to theshortages, by the analysis and the reference to the foreign bankruptcy administratorrelevant regulations, the author proposes the following suggestions:expand thesubject range of investigative power to human beings and legislate the cooperation tothe bankruptcy administrator as an obligation in the law terms; add bankruptcyrevocation rights stipulations in principle, establishing the reference standards to theacts which unlisted in the law terms, and making the detailed division to the revocableacts which listed and provided by law, make different critical period provisionsaccording to the different kinds of subjective malice and various damage levels to thedebtor’s property; entitle the creditor’s right of dissent to the bankruptcy administrator using the right of revocation; enhance the court’s and the creditors meeting’s supervision and restriction to the bankruptcy administrator’s usage of management, disposition and the loan right, which preventing the administrator’s excess and abuse of competency.