The Fund Of Bankruptcy Administrator Research

The bankruptcy administrator consistently runs through the bankruptcyproceedings,from taking over the bankrupt enterprises to its cancellation.The jobs ofbankruptcy administrator include complex legal affairs, economic affairs and socialaffairs. The bankruptcy administrator can make the bankruptcy proceedings workwell. In order to ensure fair and efficient of the bankruptcy proceedings, we mustprotect the interests of the bankruptcy administrator, the most important thing is toensure its remuneration. The Bankrupt Law formulates that the administrator’sremuneration is bankruptcy costs and pay it from the debtor’s property preferentially.In judicial practice some of the bankrupt enterprises have no property,so theadministrator’s remuneration can not be realized.This article has four parts. Part one is a propose to establish the fund of thebankruptcy administrator. The fund of the bankruptcy administrator is used toguarantee the administrator’s remuneration at the situation that the bankruptenterprises have no property. This part introduces some experience about the fund ofthe bankruptcy administrator from the courts of Shandong, Chongqing andJiangsu,and demonstrate the nature and functions of the fund of the bankruptcyadministrator. Part two is about the necessities of the fund of the bankruptcyadministrator. The necessities of the fund of the bankruptcy administrator is tobanlance the interests of the parties involved in the bankruptcy proceedings, assist thecourt to complete bankruptcy proceedings, promote the bankruptcy process, improvethe bankruptcy order. Part three is about the feasibilities of the fund of the bankruptcyadministrator. The fund of the bankruptcy administrator has feasibilities is owing tothe system is reasonable and the risk can be controlled. Because the fund has thespecial application, the nature of the fund is mutual fund and the operation of the fundis flexible, the fund of the bankruptcy administrator is feasible. In order to control therisks, the key is to ensure the financial security and the risk prevention about theapplication and fakement of the fund. Part four is the system construction of the fund of the bankruptcy administrator, elaborates the sources of fund and managementof fund. The sources can from the administrator, from bankrupt enterprises, fromfinancial subsidy and from social assistance. This article suggests formating themanagement committee to manage the fund, determining the specific criteria toextract funds, clearing terms of compensation and establishing Fund establishedregulatory system of the fund.