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A Study on the improvement of Bankruptcy Supervision system on Unification Bankruptcy Law - Case of the U.S. and Japan on the basis of legislation -

  • Legal Theory & Practice Review
  • Abbr : LTPR
  • 2014, 2(1), pp.245-274
  • Publisher : The Korea Society for Legal Theory and Practice Inc.
  • Research Area : Social Science > Law

Kim,Yong-Ku 1 이찬호 1

1군산대학교

ABSTRACT

When the debtors are in the state of bankruptcy because of insolvency or excessive debt, they are to rely on bankruptcy, debtor rehabilitation system in accordance with the current 「Debtor Rehabilitation and Bankruptcy Act.」 From beginning to end, the "Court" is in charge of every procedures and it performs most major part in bankruptcy cases. However, the judiciary who deals with bankruptcy cases are suffering from lack of experience, since they are forced to work in rotation. Moreover, the "Administration Committee" policy is suppose to ease the burden of excessive work load of bankruptcy court and audit the work of "Trustee", but practically they are subject to the bankruptcy court and does not make any independent decisions. Under the this situation, excluding chapter 1(Introduction) and chapter 5(Conclusion), this thesis are going to examine the Korean bankruptcy system in Chapter 2 and compare with other major countries' bankruptcy supervision systems such as U.S., Japan, etc. through Chatper 3. With the given information, I have seek for solution to improve our country's bankruptcy supervision system on Chaper 4. In the long-term, it is crucial to adopt "Court for Bankruptcy" policy. On the other hand, in the short-term they have to guarantee independency of the "Administration Committee." If free-standing operation of the committee is not probable, special supervisory institution should be established instead.

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