The Research Of Insolvency Administrator Supervision Mechanism

Our current bankruptcy law started to implement in2007, and introduced the system of bankruptcy administrator to our law for the first time, in order to improve the development of the bankruptcy law. Bankruptcy is the inevitable product of market economy, and smooth bankruptcy procedure plays an indispensable role for the national economic development. As the leader, bankruptcy administrator starts controlling the bankruptcy property from entering the procedure, and takes full control of the management and distribution powers to the bankrupt property. We should supervise the power of bankruptcy administrators effectively, to prevent the power from abusing and to protect the bankruptcy procedure running fairly, equitably and effectively.Although our current bankruptcy law has established an initial supervision mechanism, which depend on the court mainly, and the creditors’ meeting and creditors Committee secondarily, China’s current bankruptcy administrator supervision mechanism has a lot of fault due to the lack of the legislation experience of bankruptcy administrator system. There is not market admittance system of bankruptcy administrator in current bankruptcy law to supervise administrator choosing. The bankruptcy administrator’s obligation of attentions lack concrete rules and is difficult to run. Supervision mechanism is single, which couldn’t supervise the administrator comprehensively. The legal responsibility is not detailed. For these reasons, the insolvency administrator supervision mechanism can not run smoothly and satisfy the need of practice. Therefore, we should perfect the insolvency supervision oversight mechanism to make the procedures finishing smoothly and successfully, so that achieve the purpose to protect every interesting party’s benefit.This article starts from the bankruptcy trustee’s basic theory, to analyze the necessary of perfecting bankruptcy supervision mechanism. By the analysis of the overseas legislation and experiences of using bankruptcy administrator system, and combining with China’s actual conditions, the author gave some suggestion abut body’s qualification, body’s behavior and legal responsibilities, to improve the current bankruptcy supervision mechanism. Strengthen the supervision when we choose the administrator, by establishing the market admittance system and improving the way to choose the administrator. Make the duty of the administrator clear to design concrete rules. Establish a wild rang of supervision mechanism by increasing procuratorate to supervise the administrator. Improve the legal responsibilities system of the administrator. Our insolvency administrator supervision mechanism will be more reasonable and more realistic feasibility than before.