On November 23, 2019, the 3rd Luojia Forum on bankruptcy law was held in the moot court of law school. This forum was sponsored by Wuhan University Law School and Hubei Provincial Higher People's court, organized by Wuhan University Civil and Commercial Law Science Research Center and East & Concord Partners. Nearly 300 scholars, judges, lawyers and other guests concentrating on theoretical or practical research of bankruptcy law met at Wuhan University. They had a heated discussion on five topics: (1) Practical issues in bankruptcy trial; (2) Research on bankruptcy reorganization system; (3) Research on personal bankruptcy system; (4) Research on the system of bankruptcy conciliation and liquidation; (5) The perfection of bankruptcy administrator system.

At 8:30 a.m., the Forum opened. Professor Meng Qinguo of Wuhan University Law School presided over the opening ceremony. Dean Feng Guo, vice president Li Qunxing of Hubei Higher People's court and director Liu Zhaojun of East & Concord Partners delivered speeches respectively.

First of all, Dean Feng Guo delivered a welcome speech. He expressed heartfelt thanks to Justice Du Wanhua and Professor Li Shuguang for taking the time out of their busy schedule to attend the meeting, and warmly welcomed the scholars from other universities, judges and officers from the practical departments. Dean Feng Guo explained that the significance of bankruptcy law form three aspects. First, bankruptcy law was the basic law of market economy. The implementation of the bankruptcy law was directly related to the operation of the market economy. Second, the concept of bankruptcy law could meet the needs of supply side reform and help the market to play a better role. Third, the implementation of the bankruptcy law was an important sign of the business environment. He said that we still had a long way to go to optimize the business environment.

Vice president Li Qunxing introduced the development of the bankruptcy trial work of Hubei courts. The specialization and standardization of the bankruptcy trial work of Hubei courts were mainly reflected in four aspects: First, it was necessary to place the bankruptcy trial in an important position of creating a legal business environment, enrich and improve various evaluation indicators. Second, we were encouraged to center on the supply side structural reform and implement the policy of "consolidation, enhancement, promotion and unblocking". Third, we should strive to improve the effectiveness of bankruptcy trial and promote high-quality economic development. Mr. Li pointed out that bankruptcy trial played an irreplaceable role in optimizing resource allocation, adjusting industrial structure, and orderly repayment. Fourth, it was recognized that the professional construction of bankruptcy trial should be further improved. He also pointed out that in the future, the courts of Hubei would continue to deepen the bankruptcy trial reform around the optimization of business environment, the combination of enforcement and bankruptcy, and the construction of professional trial teams.

Director Liu Zhaojun thought that China had basically formed a bankruptcy legal system that was compatible with the development of the society. The forum focused on the reform of bankruptcy law and the legislation of personal bankruptcy. It was of great practical significance for the participants to discuss the practical issues of bankruptcy trial, the study of reorganization system, personal bankruptcy, bankruptcy settlement and liquidation, and the improvement of bankruptcy administrator system. The current legislation and judicial interpretation have made more detailed provisions on the duties of the bankruptcy administrator. The bankruptcy administration should concentrate on legal affairs and play an active role in the affairs with his superior position. While performing his duties in legal affairs, the administrator should carefully clarify the relationship between him and relevant stakeholders, and carry out legal affairs in an orderly and responsible manner, so as to prevent legal risks and accelerate bankruptcy liquidation and reorganization procedures.

After the opening ceremony, all the guests took a group photo at the front door of the law school.

The keynote speech was presided over by Professor Wen Shiyang fromm Zhongnan University of Economics and Law. Du Wanhua, the chief justice of the Supreme People's court, Li Shuguang, a professor of China University of Political Science and Law, Zhang Shanbin, a professor of Wuhan University Law School delivered speeches respectively.

Du Wanhua, the justice of the Supreme People's court, reviewed the development process of bankruptcy trial work. He believed that the main reasons for the rise of bankruptcy trial work in China in just a few years were the adjustment of China's economic and industrial structure and the establishment and improvement of the enterprise system. Justice Du Wanhua also put forward several suggestions for the protection of the functions of bankruptcy law. First, to establish a specialized bankruptcy trial organization and judicial team. Second, to promote the professionalism   of the administrator. Third, to promote the development of the coordination mechanism between the government and the court. Fourth, to establish the review mechanism of implementation to bankruptcy. Fifth, to establish a group of enterprises that can save the enterprises in danger. Sixth, to realize the informatization of work platform; seventh, to establish the enterprise identification mechanism.

According to Professor Li Shuguang of China University of Political Science and Law, we were faced with three challenges: the unclear classification of the bankruptcy law, the conflict between judicial discretion and judicial power restriction, and the application of the law.

Professor Zhang Shanbin delivered a keynote speech on several basic issues of personal bankruptcy legislation. He suggested that we should adopt general bankruptcy doctrine in the legislation mode. In the specific system construction, it was necessary to make a certain criterion for personal bankruptcy. In the aspect of the starting mechanism of bankruptcy procedure, different conditions should be set up for creditor application and debtor application.

Panel Discussion

The discussion was divided into five modules.

Unit 1: practical issues in the trial of bankruptcy cases

This unit was presided over by Wang Gongrong, the president of Huangshi intermediate people's Court of Hubei Province. Jiang Tairen, a judge of the higher people's Court of Guangxi Zhuang Autonomous Region, Xia Yong, a judge of the higher people's Court of Hubei Province, Zhang weiqi, a lawyer of Jiangxi Lunyan law firm, Wu Yang, a doctor of Wuhan University Law School, Huang Benlian, a professor of Hubei Normal University, Dong Junwu, a judge of the higher people's Court of Hubei Province, Chen Zongbin, the vice president of Jiangxia District People's court, attended the meeting.

The topic of judge Jiang Tairen's speech was the innovative practice and future prospect of bankruptcy trial in Guangxi. Mr. Jiang Tairen shared the innovation of bankruptcy trial of Guangxi court, and also made a prospect of bankruptcy trial.

The title of judge Xia Yong's speech was the interpretation of the Interim Measures for the appointment and supervision of bankruptcy case management in Hubei Province (for Trial Implementation). Judge Xia interpreted it from four aspects. The first was the background of its promulgation. The second was the index of accepting cases. The third was the interpretation of two dispute clauses. The fourth was about some regrets in the file.

The topic of Lawyer Zhang Weiqi's speech was the research on the construction of the coordination mechanism of justice and administration in enterprise bankruptcy cases. He believed that in the process of bankruptcy trial, the support and assistance of local administrative departments were inevitable in dealing with employee placement, maintaining social stability, security, tax relief and other aspects.

The topic of Dr. Wu Yang's speech was the procedural approach of false bankruptcy - based on the dual perspectives of interpretation and legislation. Dr. Wu introduced the procedural nature of malicious application, which seriously damaged the interests of creditors, led to the waste of judicial resources and bankruptcy integrity system.

In the discussion, according to Professor Huang Benlian, the innovative experience of Guangxi court shared by judge Jiang Tairen had achieved the unity of social effect and legal effect in the trial of bankruptcy cases. The coordination mechanism was a difficult point in practice.

Judge Dong Junwu said that the design of the administrator system embodied the preservation, management and recovery of the bankrupt debtor's property. It was not only the characteristics of the bankruptcy system different from other systems, but also the guarantee for the efficiency of the bankruptcy procedure.

Vice President Chen Zongbin proposed that the supervision and management of the administrator were the focuses of the work of the grass-roots courts. The relationship of the court, the administrator, the creditor and the government determined that the administrator should independently perform his duties.

Unit 2: Research on bankruptcy reorganization system

This unit was chaired by Nan Yumei, an associate professor of Wuhan University Law School. Mr. Cao Wenbing, a judge Wuhan intermediate people's court, Mr. Xue Heng, a lawyer of Shanghai Xieli (Suzhou) law firm, and Mr. Liu Xiangbin, a senior partner of Hubei Dewei JunShang law firm, delivered speeches respectively. Feng Xingjun, an associate professor of Zhongnan University of Economics and Law, Zhang Yan, a judge of Hubei Higher People's court, and Shu Yeshu, the president of Laifeng People's Court of Hubei Province attended the meeting.

The title of judge Cao Wenbing's speech was dilemma and solution: the examination of forcible approval system of reorganization plan of Listed Companies -- Taking 13 bankruptcy reorganization cases of listed companies as analysis samples.

The title of lawyer Xue Heng's speech was to discuss the supervision authority of the administrator during the supervision period of the reorganization plan. Lawyer Xue put forward some suggestions on the establishment of the supervisor's supervision authority in China in terms of the position of the supervisor's authority, the limitation of the supervisor's authority, the refinement of the supervisor's supervision mode and the establishment of relief rules.

The topic of Lawyer Liu Xiangbin's speech was on the conflict and coordination between the adjustment of investors' rights and interests and the burden of equity in bankruptcy reorganization. He analyzed the contents and reasons of the adjustment of investors' rights and interests in bankruptcy reorganization.

During the discussion, Professor Feng Xingjun first agreed with Lawyer Liu Xiangbin's point of view, and at the same time, she expressed her views on the supervision responsibility of the administrator from the perspective of the corporate governance.

Judge Zhang Yan thought that the forcible adjudication system was a difficult problem in the bankruptcy procedure. The court should act within the scope of the law to avoid the two extremes of abuse or refusal.

President Shu Yeshu expressed his views on the practice of handling bankruptcy cases in Laifeng. He believed that the people's court should carefully use the power of forcible approval and examine the legality and rationality of the reorganization draft.

Unit 3: Research on personal bankruptcy system

This unit was presided over by Chen Xiaoxing, an associate professor of Zhongnan University of Finance and law. Hu Yang, a judge of Qingshan District People's Court of Wuhan City, Qian Ning, a doctor student of civil and commercial law of Wuhan University Law School, Yu Jiangbo, a graduate student of civil and commercial law of Wuhan University Law School, delivered speeches respectively. Liu Ying, an associate professor of Law School of Beihang University, and Wu Feng, a partner of Beijing Dacheng (Wuhan) law firm attended the meeting.

The topic of Hu Yang's speech was the design of the bankruptcy system of natural person under the reconstruction of bankruptcy law value. Hu introduced the joint debt and personal bankruptcy system of husband and wife from the perspective of marriage law pilot, and put forward three views.

The topic of Dr. Qian Ning's speech was the transformation of social concept and legal consciousness in the construction of personal bankruptcy system. He believed that we should complete the localization construction of personal bankruptcy system, and build a diversified mechanism of regulation, moral guidance, government control and civil coordination.

The topic of Yu Jiangbo's speech was the choice of exemption mode and condition setting of personal bankruptcy in China. He discussed the choice of legislation mode of personal bankruptcy exemption, and fully explained the conditions of personal bankruptcy exemption.

Associate professor Liu Ying believed that although the points of the three speakers were different, the common opinion among them was the concept of exemption. Although there were many differences between the personal bankruptcy system and the enterprise bankruptcy system, the biggest impact it brought to the society was the impact on the concept of ordinary people.

Lawyer Wu Feng summed up the speeches of the three speakers and pointed out that the speech of the three speakers covered many doubts in the personal bankruptcy legislation.

Liu Yan, a postgraduate student of China University of Political Science and Law, believed that the personal bankruptcy system covered the value of protecting the interests of debtors.

Finally, Professor Chen Xiaoxing called on all of us to jointly promote the legislation of personal bankruptcy system

Unit 4: Research on the system of bankruptcy conciliation and liquidation

This unit was presided over by Huang Jiajun, the vice president of Enshi intermediate people's Court of Hubei Province. Lawyer Wu Lixin, lawyer Li Guangsheng, Yang Zhipeng delivered speeches. Associate professor Tang Zhengqi, Mr. Shi Yifeng and lawyer Sun Caica attended the meeting.

The topic of lawyer Wu Lixin's speech was innovation and thinking of bankruptcy conciliation of listed companies. Lawyer Wu believed that under the background of high failure rate of bankruptcy reorganization, the bankruptcy conciliation system had its own advantages and could not be abolished.

Lawyer Li Guangsheng analyzed the problem that the debtor did not cooperate with the liquidation in the bankruptcy liquidation case. According to Mr. Li, in our country, the debtors who did not cooperate with the liquidation in the bankruptcy liquidation would be punished by the measures of fine, detention, which were lack of operability.

The topic of Yang Zhipeng's speech was how to apply tax guarantee in bankruptcy liquidation. He put forward a solution to the problem of application of tax guarantee for bankruptcy.

In the discussion, Mr. Huang Jiajun talked about his experience of hearing bankruptcy cases. Mr. Tang Zhengqi affirmed and praised the speaker's speech of this unit, and believed that these issues were worthy of in-depth consideration.

Mr. Shi Yifeng proposed that in the innovation of bankruptcy conciliation of listed companies, the bankruptcy reorganization system was usually applied to listed companies

Lawyer sun Caihua discusses the problem that the debtor did not perform positively in the liquidation procedure. He also discussed the problem that "the investigation right given to the administrator was limited".

Finally, Mr. Huang Jiajun made a conclusion that the bankruptcy trial had great potential. Bankruptcy was the most effective means for the Party committee and the government to resolve social conflicts, and also the life-saving straw for private entrepreneurs to save themselves.

 Unit 5: The perfection of bankruptcy administrator system.

The unit was presided over by Xiao Baoguo, the vice president of Xiangyang intermediate people's court. Lawyer Zhang Yaqiong, lawyer Yin Aiguo, and lawyer Wang Yan respectively made speeches. Professor Yu Lan, Cheng Jiwei, the head of the bankruptcy court of Wuhan intermediate people's court, and Wang Jun, the president of Daye people's court of Hubei Province attended the meeting.

The title of lawyer Zhang Yaqiong's speech was the development and improvement of the bankruptcy administrator industry autonomy. She analyzed the practice of bankruptcy administrator industry autonomy from four aspects: court, administrator, clients and market.

 

Through the understanding and application of Article 7 of the judicial interpretation of the enterprise bankruptcy law (3), lawyer Yin Aiguo explained how bankruptcy administrator examined and handled the claims of false enforcement.

The title of lawyer Wang Yan's speech was the bankruptcy administrator team: responsibility, structure and internal control. He thought that the bankruptcy administrator team should practice the concept of prior and in-process management.

In the discussion, professor Yu Lan thought that the legislative purpose of the bankruptcy management law should not be simple. It should pursue not only the legal effect, but also the social effect such as employee placement.

Mr. Cheng Jiwei agreed with professor Yu Lan and shared the practice of the association of bankruptcy administrators and the administrators fund.

Combined with the trial practice and the "short board theory", Mr. Wang Jun talked about his understanding of the short board in the bankruptcy management of lawyers, administrators and courts and other judicial institutions.

Closing ceremony

The closing ceremony of the forum was presided over by Li Xiaodan, the judge of the people's Court of Hubei Province. Professor Zhang Suhua delivered a speech.

Professor Zhang Suhua pointed out that the bankruptcy law had high requirements for the knowledge, life experience and social cognition of the relevant personnel. Bankruptcy law had various relations with department laws, and it was both connected with public and private laws.

In addition, professor Zhang also expressed his expectations for the bankruptcy law forum. He hoped that the forum would be more focused on the important issues and help to change the misunderstanding of bankruptcy of the ordinary people.

Finally, Professor Zhan expressed his gratitude to East & Concord Partners for its sponsorship.

 

 

Edited by Su Yi & Wu Liuqing