On Construction And Application Of Pre-Reform System In China

It made many bankrupt enterprises get chance to rebirth as the bankruptcy reorganization system was introduced into the Enterprise Bankruptcy Law of China,which was approved on August 27,2006.Therefore,the enterprises can not only apply for judicial settlement under the guidance of the court or execute bankruptcy reorganization after the court approves the reorganization plan,but also choose the out-of-court debt restructuring which is subject to the intention of the parties.It has played a great role in practice,helping a lot of enterprises on the verge of bankruptcy to get out of trouble and get reborn since the implementation of the bankruptcy reorganization system.However,this reorganization system gradually shows its disadvantages in practice with the continuous development of society.The Supreme People’s Court and the National Development and Reform Commission point out that it needs to explore the linkage between out-of-court reorganization and in-court reorganization through the release of relevant documents in order to improve the enterprise bankruptcy system and better get bankrupt enterprises out of trouble.The pre-reform system has been widely used in the practice outside the court,achieving success by combining the advantages of out-of-court reorganization and in-court reorganization as an innovative system,which has several advantages,such as giving priority to the autonomy of parties supplemented by judicial supervision,simplifying procedures,improving efficiency,reducing costs,and reducing the negative impact of enterprises.Therefore,most countries gradually begin to conduct in-depth research on the pre-reform system.In order to solve the existing problems in the bankruptcy reorganization of troubled enterprises in China,the pre-reform system can be introduced into the bankruptcy system of enterprises in China as a linkage system compared with the problems faced by China at the present stage.From theoretical basis for the breakthrough point,this paper introduces the concept of the reorganization system and its historical background,reflect changes of our country’s bankruptcy system By courts around the existing in the judicial practice of pre-reforming explore mode,in the summary and sums up the domestic scholars put forward some controversy in the process of the reorganization system,targeted for lack of pre-reforming mode in our country,dilemma may arise in practice,combined with practice experience of the development of pre-reforming system outside the perfection of concrete Suggestions are put forward.Pre-reforming system is not an innovation based on in-court restructuring,which is not only to run the in-court restructuring procedure outside the court,but should be understood as an independent stage,connecting the out-of-court restructuring with in-court restructuring by giving the parties the freedom to choose the administrator,and respecting the principle of autonomy of the parties In order to ensure the effectiveness of the pre-reforming plan and the subsequent implementation,the court will enforce the approval power to guarantee.In order to realize take the market as the dominant pre-reforming program of effective operation,and maintenance enterprise business environment.