Research On The Legislative Model Of Personal Bankruptcy System In China

The legislative mode is crucial to the entire legislation,and the choice of legislative mode in China’s personal bankruptcy system largely determines the content and quality of personal bankruptcy legislation.In the context of the two major tasks of building a personal bankruptcy system and revising the "Enterprise Bankruptcy Law",the revision of the "Enterprise Bankruptcy Law" is bound to provide opportunities and shortcuts for personal bankruptcy legislation.Based on a comparison of the development process of personal bankruptcy systems at home and abroad,this article proposes a legislative path for personal bankruptcy systems in China based on the urgent needs of personal bankruptcy legislation in China and in combination with existing legislative models.In the first part of this article,the concept,origin,and development of personal bankruptcy are first taken as the starting point to sort out the domestic and foreign personal bankruptcy systems.Then,by comparing the personal bankruptcy system with the corporate bankruptcy system in China,the irreplaceable nature of the personal bankruptcy system in China is demonstrated on this basis.The second part analyzes the urgency of personal bankruptcy legislation based on the practical needs of regulating the withdrawal of various market entities,alleviating "enforcement difficulties",saving "honest but unfortunate" debtors,protecting the interests of creditors,and promoting the construction of a benign legal ecosystem.The third part is a comparative analysis of the advantages and disadvantages of the four legislative models available for the personal bankruptcy system in China.It is believed that the separate application of the "absorption","integration",and "total division" legislative models under the consolidated legislative model has more or less drawbacks,which cannot fundamentally meet the urgent needs of current judicial practice and the public in China,and is not the optimal solution for the current personal bankruptcy legislation in China.The fourth part of this article proposes a realistic path to build China’s personal bankruptcy system,namely,the "combined legislation" model."Combined" legislation adopts a two-step approach of "absorption+total score" and is implemented in stages.It has the advantages of timeliness,periodicity,stability,and convenience.It is of great significance in timely relieving the plight of individual subject bankruptcy,maintaining the stability of the corporate bankruptcy law,and ensuring the systematic and scientific nature of individual bankruptcy legislation.Finally,the article discusses the value concept,China’s national conditions The feasibility of the "combined" legislative model for personal bankruptcy in China is demonstrated from three aspects of cost and benefit.