Research on Bankruptcy Trustee’s Right of Rescission of Contract

Song Shuxia (), Xu Luobing and Wang Feimin
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Song Shuxia: College of Humanities and Law, North China University of Technology, Beijing, China
Xu Luobing: College of Humanities and Law, North China University of Technology, Beijing, China
Wang Feimin: College of Humanities and Law, North China University of Technology, Beijing, China

Asian Journal of Law and Economics, 2020, vol. 11, issue 1, 13

Abstract: Article 18, paragraph 1, of Law of the People’s Republic of China on Enterprise Bankruptcy gives the bankruptcy trustee the right to rescind the performance of executory contract. It also stipulates the time limit and legal effect, but it does not further set standards and restrict the rescission of specific contracts. The purpose of This Paper is to explore and establish norms for the exercise of bankruptcy trustee’s rescission rights under different situations to meet the practical needs. Based on the research results of domestic and foreign scholars, this paper puts forward the standard of “Special Interest Protection for Specific Creditors” to balance the interest conflicts between individual creditors, debtors and other creditors. Finally, this paper argues that it is necessary to set certain standards and make appropriate restrictions on the exercise of the bankruptcy trustee’s right to rescission the contract and improve the system.

Keywords: bankruptcy trustee; executory contract; exercise period; standard of rescission right (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1515/ajle-2019-0022

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