Research On The Rank Of Priority Creditor’s Rights In Bankruptcy Procedure

The development process of bankruptcy law will always be synchronized with the development history of commodity economy.Today,China’s economic development has entered a new stage,which must be combined with an efficient and orderly bankruptcy system to provide a good business environment for the developing market economy.However,as the system of the right of separation is not mature in China,the priority system has not been established.There are also many conflicts between the Bankruptcy Law and other legal systems,and the expression of the Bankruptcy Law is too principled,which also makes the legal professionals in different positions have different interpretations of the order of the bankruptcy creditor’s rights,thus leading to a lot of law enforcement chaos in the judicial practice.The traditional purpose of the bankruptcy system is to distribute the bankrupt property equally so as to make the bankrupt creditors feel the final relief.Even if the reorganization procedure has occupied a place in the bankruptcy law for the purpose of promoting enterprise regeneration,it is also aimed at saving the bankrupt enterprises through reorganization and reducing the loss of the bankrupt creditors as much as possible.Therefore,it is the core of the Bankruptcy Law to seek a scientific and satisfactory settlement order of bankruptcy claims.The fundamental mission of bankruptcy legislation is how to make all kinds of bankruptcy creditors recognize the distribution rules of bankruptcy property.At present,the continuous improvement of the guarantee system has been impacting on the purpose of the bankruptcy system.The creditor’s rights with the guarantee are constantly involved in enterprises in diversified forms,and the property of enterprises after bankruptcy is almost left.On the right of exclusion of people on behalf of the people’s livelihood and the worker of creditors,and symbol of rather tax creditor,and balance of interests between good and innocent ordinary creditor,to seek the best Nash equilibrium between various interests,not only can get all the creditors recognition sequence,the distribution of the maximum achieve maximum saturation,also can let the repayment rate as much as possible to reduce the loss of all creditors.This paper starts with the core research of the priority creditor’s rights in the bankruptcy procedure,and focuses on the in-depth analysis of the interest value behind the general priority and the right of separation,so as to determine the priority status of the right of separation based on the standard of interest measurement.If the group interests of general priority are abandoned in order to ensure the priority of the right of separation,the problems that will be faced include:the threat to the subsistence right of workers,the difficulty in guaranteeing national tax revenue,and the difficulty in starting the bankruptcy procedure,which should be classified as social problems;If the general priority is placed before the right of separation,the difficulties will be caused: the collapse of the foundation of guarantee system,the rise of non-performing assets of banks,the difficulty of enterprise financing,the failure of restructuring,and the vicious circle of bankruptcy and liquidation of more enterprises.These problems should be attributed to the economic level.Since the order of the general priority and the right of exclusion is derived from the social and economic levels of the different consequences of the dilemma,then,we should be from the bad consequences can be saved to solve the problem of the order.The problem of social system is that the social security system can be improved and developed in an all-round way along with China’s entry into a modern powerful country,and the general priority will inevitably disappear in the bankruptcy procedure.The economic system is an unshakable macroeconomic problem for developing countries.Reform,opening up and business environment serve the market economy,because the market economy is an economic model that can optimize the allocation of resources to achieve high speed,high efficiency and high quality to drive national development.Therefore,the right of exclusion must take precedence over the general priority in order to reflect the idea that economic development is the first priority.Under the premise of the economic development in China,however,and nor in a "one size fits all" thinking to solve the problem of the sequence of the bankruptcy,the defending right of exclusion of priority at the same time,the law should be based on bankruptcy law principle,from protecting the interests of the debtors and creditors and the society as a whole,in the stage of the different programs,combined with the present market environment,To the extent known by the comprehensive information of the legal decision,the equilibrium point is sought in order to reach the result of the most rational choice of the degree of limitation of the right of exclusion.Considering the value trade-off and the balance of interests in the reorganization of bankrupt enterprises,it is necessary to restrict the exercise of the right of separation.If the procedural rights of the disclaimer are properly restricted,the value of the bankruptcy property will be improved as a whole,or the value of the exchange value of all the bankruptcy property will be increased,so as to ensure that the liquidation rate of the general priority person and the general creditor will be improved,so as to benefit all the creditors.It not only protects the foundation of the guarantee system,but also follows the legislative purpose of the bankruptcy system.This is a harmonious coexistence mode between legal systems and the best settlement scheme to achieve win-win results.