Preliminary Construction Of Personal Bankruptcy System In China

The bankruptcy system is the inevitable corollary of the development of modern economy system. There is no substitute in solving complicated civil and commercial relationship between debtor-creditor as it pushes forward. In settling disputes, it is perfectly appropriate with its thoroughness, efficiency and fairness in the current rapid economy developing period. So that, each country in the world places great emphasize on legislation of bankruptcy system. Our country has promulgated "enterprise bankruptcy law" in2006, but there is still not any legal language involving personal bankruptcy. However, with stepping deeper in market economy, there will be more and more cases where individual, as the civil and commercial subject, take business risk. Also, with market further opening and market economy further developing and prospering, personal bankruptcy will inevitably burst. This paper aims to take precautions. Author thinks the research on related legal should be fully prepared before the personal bankruptcy becomes a massive social issue. This paper uses the historical analysis and comparative analysis to analyze and refer to personal bankruptcy in various countries, and combines with China legislation and special national conditions to make a breakthrough in the exploration and establishment of personal bankruptcy system adapted to the development of our country. This paper is divided into four chapters, from different aspects, to fully discuss why the personal bankruptcy system should be established, what it should cover, and how to establish in China.The first chapter is an overview of personal bankruptcy system. The first section introduces the origin and development of personal bankruptcy, and comes to the conclusion that personal bankruptcy system formal appeared in the late stage of the ancient Rome. Then Author briefly reviews the history of evolution and development of the personal bankruptcy system in the American and Germany. The second section demonstrates the objective and significance of the establishment of personal bankruptcy system from the aspects of businessman and consumer.The second chapter states the necessity and feasibility of the construction of personal bankruptcy system in China. In this section, Author demonstrates the necessity in the fields of its assistance in economic risk control and the social distribution system, and the feasibility in the fields of gradually improvement of other legal system and the social system(Including the social credit system, property registration system, social security system).The third chapter is the focal point of this paper, discussing some special systems of personal bankruptcy system, including exempt property system, bankruptcy exemption system and right termination and recovery system. In this chapter, procedure and substance of these systems are extensively compared and referred to the corresponding provisions in other countries. Combining with China national conditions, Author provides own suggestion on how to design and apply these systems. In the property system, author think that the exempt property content can be compared with unenforceable property in implementation system and make some correction, Confirmation of exempt property should give priority to be agreed by creditors, and be ruled by court as auxiliary. In the bankruptcy exemption system, author think the period of responsibility should be tied with the redemption of debts. The gain of exemption should use the doctrine of exempted by permission, then author do some research on the conditions and special debts that can not be exempted. In the right termination and recovery system, author discuss the contents of right termination in detail firstly, then author think it’s more appropriate for China to use the doctrine of inevitable recovery. This chapter also lays solid foundation for establishment of personal bankruptcy system in China in the fourth chapter.The fourth chapter discusses the establishment of the framework of the personal bankruptcy system in China. The first section discusses some issues in the framework of the personal bankruptcy system, in order to make the whole framework more reasonable and complete; the second section uses a flow chart to illustrate framework of personal bankrupt system, which Author thinks could be adapted to the current national conditions.