On the Corporate Governance in the Reorganization Proceedings——Focus on related rules of the Enterprise Insolvency Law of China;

The reorganization system is the first rule of new insolvent law in our country,which helps to attain a balance of interests between the management and the work force.

The reorganization procedure for bankrupt companies is thought to be an efficient procedure that avoids much unnecessary liquidation and reduces the social costs of bankruptcy.

The key to making complete use of the bankruptcy reorganization system and rescuing the enterprises is to position the parties in the system scientifically,and to allocate their legal power and obligations properly.

Bankruptcy reorganization, as a business to be built for the purpose of the system, representatives of national insolvency laws of the modern development of the main trend.

Bankruptcy Reorganization,by nature,is a special restructuring legal system designed to maintain the existence and survival of the corporations who are desperately involved in debt crisis.

At present, as a part of the bankruptcy law in China, reorganization of bankruptcy is widely criticized as the model of the legislation failure.

Tensions and variations are necessary in corporate governance during the course of insolvency reorganization in practice,and corporate governance for the bankrupt corporation is closely related to legislative aim of insolvency reorganization,hence the construction of corporate governance should primarily subject to the debtor\'s choice between reorganization and liquidation.