Research On Legal Issues Of Implementation Of The Restructuring Plan

Today,the practice of enterprise bankruptcy system in China has gone through more than 30 years.The enterprise bankruptcy law and its judicial interpretation constitute a relatively perfect bankruptcy legal system.The construction of marketization,legalization and specialization of bankruptcy trial has made great progress.The concept,culture and institutional rules of bankruptcy law have also been more widely spread and recognized.The bankruptcy reorganization system is an important bankruptcy procedure established by the enterprise bankruptcy law of our country.It has become one of the most powerful legal systems for clearing debts and reviving enterprises.However,in the process of practice,the problems existing in the bankruptcy reorganization system of our country are gradually exposed,among which the implementation of the reorganization plan is particularly prominent,resulting in many contradictions in the bankruptcy reorganization.This paper takes this as the research topic and expects to contribute to the solution of this problem.This paper studies the implementation of the bankruptcy reorganization plan from the perspective of the protection of private rights.Starting from the subject of rights,the subject of obligations and the subject of supervision,this paper analyzes the problems existing in the implementation of the bankruptcy reorganization plan according to the basic theory of the bankruptcy law and puts forward some suggestions for improvement.This paper is divided into three parts:Part Ⅰ : analyzes the general theory of the implementation of bankruptcy reorganization plan.First of all,the concept of "implementation of bankruptcy reorganization plan" is defined scientifically,and the characteristics of the implementation of bankruptcy reorganization plan are analyzed,that is,the reality,the emphasis on the disposal of private rights,and the compulsion and binding force.Secondly,the author combs the legal relationship in the implementation of the bankruptcy reorganization plan,that is,the supervision relationship between the administrator and the debtor,the creditor debt relationship between the debtor and the creditor,and the quasi agency relationship between the administrator and the creditor.Finally,it explains the basic principles that should be followed in the implementation of bankruptcy reorganization plan,including the principle of interest balance,the principle of saving as much as possible and the principle of efficiency priority.Part Ⅱ :analyze the problems and causes in the implementation of the plan,pointing out the deficiency of the current law to the implementation of the plan.Then further explore the implementation level of the problems,including the implementation stage of reorganization plan to the protection of creditors’ rights and interests,debtor recovery obstacles,supervision of the main body of supervision,etc.,which all affect the smooth implementation of the bankruptcy reorganization plan.Part Ⅲ:to solve the legal problems in the implementation of the bankruptcy reorganization plan in China,the first step is to guarantee the realization of the creditor’s rights of the subject of the bankruptcy reorganization plan,including setting the limit of standard execution period and extension times to prevent the delay of the procedure,and to ensure the substantive repayment of the creditor’s rights,we should promote the market-oriented exit of debt to share.Second,promote the business recovery of the obligatory subject,including strengthening the feasibility principle of reorganization plan to give clear guidance to enterprises,reasonably allocate the internal control of enterprises to standardize the business operation,cut or repair the bad credit records to help enterprises recover their vitality from the external business environment.Third,regulate the supervision subject and supervision behavior from the legal level,and refine the mechanism of responsibility recovery for the derelict supervision subject and give the creditor the supervision right in the execution stage.Thus,the creditor’s rights can be paid off,and the bankrupt enterprise can be reborn and finally achieve the purpose of bankruptcy reorganization.