Research On Legal Issues Of Bankruptcy Pre-Reorganization

As far as the present,there is no matching law with the pre-reorganization procedure of bankruptcy.The present practice of pre-reorganization of enterprise bankruptcy is that the pre-reorganization procedure is set up spontaneously after the bankruptcy declaration,and it is coordinated with the bankruptcy reorganization procedure.However,it is necessary for the government or the court to start the process of enterprise bankruptcy prereorganization and jointly establish a set of bankruptcy prereorganization plan after the consultation of the liquidation organization designated by the government or the court.In the process of the formulation and implementation of this plan,although the debtor can get more time,and a series of consensus will be reached between the debtor and the creditor in a relatively relaxed environment,and a complete set of pre-restructuring plan willbe formed.However,in the process of the implementation of the pre-bankruptcy reorganization plan,there will also be four problems: the approval procedure of thedraft of the pre-bankruptcy reorganization plan,the information disclosure in the pre-bankruptcy reorganization process,the effectiveness of the creditor’s commitment,and the connection between the pre-bankruptcy reorganization and the reorganization process.As a result,the efficiency and cost of the pre-bankruptcy reorganization are difficult to be fully guaranteed,which is not conducive to the revival of the youth and vitality of the enterprise.Moreover,it is not conducive to the sound and rapid development of Chinese economy and society in the new era,so it is urgent to establish a complete set of enterprise bankruptcy pre-reorganization system.This paper mainly focuses on the overview of the current situationof bankruptcy prereorganization practice,in view of the above in-depthresearch,and put forward to improve the compliance of the approval process of bankruptcyprereorganization plan draft;Highly strengthen the guiding,supervising and judicialcoordination role of the court;Creditors must make a valid commitment to the pre-restructuring programme;Comprehensively strengthen the institutional effectiveness of information disclosure supervision in bankruptcy prereorganization proceedings;Remove the bankruptcy prereorganization procedure from the framework of the Enterprise Bankruptcy Law of the People’s Republic of China and give a judicial interpretation;Effectively adjust the content of commitments made by recognized creditors in pre-court reorganization;To enhance overall continuity and prudence in the selection of managers;The basic work of creditor’s rights should emphasize eight points of efficiency on the premise of compliance,hoping to provide strong support for the construction and improvement of Chinese enterprise bankruptcy prereorganization system,but also provide strong guarantee conditions for the high-quality development of Chinese seconomy.