Research Insolvency Administrator Issues

Sound Enterprise exit mechanism is an inevitable requirement of economicaldevelopment. China’s implementation of "Enterprise Bankruptcy Law of People’s Republic ofChina" since June1,2007wanted to fully regulate the process of the Enterprise Bankruptcy.And the highlights of the Act is the introduction of the internationally conventions ofinsolvency administrator. Subsequently, the Supreme People’s Court issued" the SupremePeople’s Court on the specified management compensation" and "the Supreme People’s Courton the trial of enterprise bankruptcy cases specified management regulations" to regulate thetrial of enterprise bankruptcy cases, However, the development of insolvency administratorregime in China still can’t keep up with the practical needs. Such as supporting laws andregulations are incomplete, there is no industry standard, the staff are not enthusiastic.Insolvency bankruptcy procedures specific issues as the main perpetrators, has an importantimpact on the conduct of bankruptcy cases, the clarity of legal position is the basis todetermine the affairs that the insolvency administrator engaged in. In this paper, anindependent agency said is located to the legal status of the bankruptcy administrator, throughthe analysis of domestic insolvency administrator elected legislative model, and theparticularity and the status of the banking financial institutions bankruptcy, financialregulators proposed joint with the Court elected, the liquidation group together with the socialintermediary organizations constitute the insolvency administrator of the financial institutions,which is a viable theory. Proposed the establishment of a special fund returns conception ofthe insolvency administrator to solve the realities that there isn’t enough money to pay for thebankruptcy administrator reward, to improve the security mechanism of the insolvencyadministrator. According to current development of domestic and foreign liability insurancesystem, analyzes the necessity of establishing liability insurance insolvency practitioners, andto make concrete recommendations to improve. Industry association proposed theestablishment of the insolvency administrator to regulate the industry self-regulatoryorganization and promote the development of China’s bankruptcy administrator system, and propose to carry out bankruptcy administrator qualification examination system selectingspecific ideas for insolvency practitioners.