Legal Research On Pre-reorganization System Of Bankruptcy Of Our Country

In recent years,the introduction of bankruptcy pre-reorganization procedures in judicial practice has helped some companies and enterprises resolve the deadlock that is on the verge of bankruptcy,and has achieved excellent results in similar cases;However,due to the lack of legislation,there is a lack of unified standards for the interpretation and application of pre-reorganization in local judicial practice.Bankruptcy pre-reorganization is an efficient and economical solution to rescue enterprises based on the legal principles of out-of-court reorganization and in court reorganization systems in traditional bankruptcy laws,designed through institutional innovation.Theoretically,pre-reorganization can be divided into two stages: narrow and broad.In a narrow sense,it refers to the stage of party autonomy in out of court reorganization,and in a broad sense,it refers to the extension of the negotiation results voluntarily negotiated by the parties in the previous stage to the in court reorganization stage.The core content of pre-reorganization is mainly guided by out of court reorganization.Bankruptcy law should focus on the maintenance of procedural justice to ensure the realization of substantive justice.Firstly,clarifying the legal nature of the pre-reorganization system is a prerequisite for the accurate application of the system,and it is necessary to correctly understand the unique value of the pre-reorganization system.Secondly,in the absence of legal basis,the implementation of the pre-reorganization system should not be subject to the prior approval of the court and the appointment of an administrator as a necessary condition;First,pay attention to distinguishing the functional boundaries between "public power" and "private power",and clarify that the functions of the court in the pre-reorganization stage are generally only to formulate operational guidelines for the pre-reorganization practice,as well as to approve the draft pre-reorganization plan reached during the pre-reorganization stage when entering the reorganization process,so as to ensure judicial solidification in the bankruptcy reorganization stage and prevent the parties from doing useless work outside the court;The second is that the principle of party autonomy should be followed.The parties can negotiate to hire a pre-reorganization assistance institution on their own,and the intervention in the pre-reorganization stage does not necessarily have the judicial enforcement effect of suspension,suspension of execution,and suspension of interest calculation in the bankruptcy law,which only exists after the commencement of formal bankruptcy proceedings.Thirdly,it is also crucial to clarify the protection of various types of creditors.General measures such as improving and improving the information disclosure system,scientific debt to equity swap plans,or appropriate introduction of investors,as well as appropriate government intervention,are concrete manifestations of effectively protecting the legitimate rights and interests of creditors,and are the key to determining whether the draft pre-reorganization plan can be successfully passed.By putting forward suggestions on the construction of China’s bankruptcy pre-reorganization system,we hope to establish a market-oriented and legalized pre-reorganization system in the field of bankruptcy law as soon as possible.