On The Bankruptcy Revocation

Since the reform and opening up, China’s economic booming enterprises as an important subject of economic relations play an irreplaceable role to participate in market competition, and to promote social progress, bankruptcy is the inevitable product of market competition. Bankruptcy law as one of the market economy run coordinator, in the case of poor business management in bankruptcy liquidation, corporate legal norms and orderly exit from the market to protect the creditors and other stakeholders the main fair and reasonable under compensation, the maintenance of their basic rights. Bankruptcy revocation Bankruptcy Law established for the program before the start of the trading activities may When the debtor is in bankruptcy status or expected to be in a state of bankruptcy cases, for a variety of interests to consider the implementation of a variety of improper behavior to reduce property or conduct not equitable settlement of the transaction, resulting in the deterioration of the responsibility and property of the debtor, will harm the interests of the majority of creditors and stakeholders, and therefore must be regulated by this bankruptcy revocation system is set up in order to prevent the debtor’s fraudulent acts of bankruptcy and individual repayment behavior’s.Compared with Western developed countries, the theoretical study of the bankruptcy of our country the right to revoke a late start, the entire theoretical system is not mature enough, scholars theory still go their own way, did not become one of the words. Legislative provisions, the legal framework is still far from complete, specific provisions have yet to be refined, some important elements relating to the right to revoke the system, such as withdrawing the scope and withdrawing the legal consequences of such important matters as provisions in practice show some lag, not enough social practice should be a variety of situations, need to be improved in the future legislative requirements.This article from the three aspects of the Bankruptcy revocation system demonstration analysis. First, the right to revoke the basic theory of bankruptcy explained, bankruptcy right to revoke the historical origins explore bankruptcy the right to revoke the meaning and characteristics are described, and on this basis, the latter from the mainstream claims that,"the formation of the right to say" and "dual nature that the three angles of the bankruptcy revocation qualitative role to play in jurisprudence and social practice on the bankruptcy revocation exists on the basis of demonstrated, these constitute the basic theory of this article begins with foundation. Second, focus on visits to the foreign system, to the adoption of detailed analysis of extraterritorial system Insolvency system perfect for a useful inspiration article focuses on relatively well investigated four bankruptcy provisions of the United States, the United Kingdom, Germany and Japan the two aspects of the country’s legal practice, the right constituent elements and the bankruptcy critical deadline for the withdrawal from the bankruptcy of China should learn from the content. Third, this part of the study focuses on the problems of China’s Bankruptcy revocation system as well as the recommendations of the existing system. For the analysis of the existing problems are mainly from the law’s systemic, practical feasibility, may revoke the situation comprehensiveness and the exercise period of four scientific issues and the Repeal system deficiencies and needs to be improved at the instructions. Then asked for all aspects of the existing targeted recommendations. Four aspects of the the author primarily from the exercise of the right to revoke the principal can revoke the legal situation, the exercise program and the right to revoke the legal consequences of bankruptcy revocation system perfect to put forward their own ideas.