Corporate Governance In The Implementation Of Reorganization Plan

Bankruptcy reorganization is a legal system that is implemented by companies that are still hopeful to regenerate despite financial difficulties,in order to save their business.The Enterprise Bankruptcy Law of the People’s Republic of China(hereinafter referred to as the Bankruptcy Law)was formally came into operation on June 1,2007.With the deepening of the “supply-side reform” of our country,it begins to realize the importance of the bankruptcy law,and the bankruptcy reorganization system can better serve the perfection of the market economy.The effective implementation of the bankruptcy reorganization system is conducive to overcoming the problems including unemployment of workers,waste of productivity,etc.caused by bankruptcy liquidation,if they can be reorganized successfully.The key to reconstructing success is to implement the bankruptcy reorganization plan.Only after the plan is comprehensive and efficient implemented will the company be able to continue its business.This paper is based on the theory of corporate governance,combined with theories of management,through the summary of bankruptcy reorganization practice,and tries to sort out and improve the governance structure during the implementation of the bankruptcy reorganization plan,in order to make up for the defects of corporate governance structure in the implementation of the bankruptcy reorganization plan.And provide the improvement of bankruptcy reorganization system.This paper is divided into two parts: the introduction and body.The introduction mainly describes the background and significance of the topic,the research status of related issues at home and abroad,and the innovative points and deficiencies of this article are introduced.The body is divided into four parts:Chapter I analyzes the particularity of corporate governance during the implementation of the bankruptcy reorganization plan,and provides theoretical support for improving the governance structure below.According to the Company Law,corporate governance is how to balances the relation of shareholders,the board of directors,the board of supervisors,and managers.However,such relations are different under normal operating conditions and during the bankruptcy reorganization period and during the implementation of the bankruptcy reorganization plan.Chapter II discusses the issue of revising the reorganization plan during the implementation of the bankruptcy reorganization plan from the level of reorganization and decision making.Introduces relate regulations of the United States,South Korea,Japan,and Taiwan Province,and puts forward that China’s bankruptcy legislation can improve the bankruptcy reorganization plan’s amendments from the following aspects: who can applicant,who implement modifications,and the content and procedures of the amendment.Chapter III discusses the necessity and method of perfecting the company’s internal control system during the implementation of the bankruptcy reorganization plan,and introduces the risk compensation system and how to introduce the risk compensation system into the revival system,and the reorganization party how to intervention in the bankruptcy reorganization system.Chapter IV introduce regulations of Germany,Japan and France,analyzes the problems existing in the supervision of the debtor by bankruptcy administrator and courts in the implementation of the bankruptcy reorganization plan,and puts forward suggestions to improve relevant regulations.