Cross-sectional Studies of Secured Interests, Execution and Bankruptcy Law

本研究旨在考察近期担保物权法、执行法和破产法改革的背景，确立(明确)这些法律领域的横截面定价，并为立法和法律实践提出一些建议。研究结果将总结为三点，这三点将取决于最近执行和破产程序的多元化和提速。第一，司法外程序对执行和破产过程的多元化和流线化的重要性。除了在美国和法国的并购外，法国的董事和政委还制定了目标并购、资产重组、L并购、L并购等程序。二、执行与破产管理人的重要性。在美国和最近的日本，除了法院官员，投资银行家、会计师、税务会计师和律师在多元化和精简这一过程中发挥着非常重要的作用。值得一提的是，英国于1986年引入了破产执业者制度。第二，在执行和破产程序的多元化和快速化方面，一些担保权益的弱化或重组。这个问题是双重的。第一个问题是在多大程度上削弱了有担保权益对债权人的不利影响，第二个问题是在多大程度上削弱了交易型债权人(其中工资雇员和承包商实际上很重要)对金融债权人的削弱。

This research aimed to investigate the background of recent reforms of security interests law, execution law and bankruptcy law, and establish (clarify) cross-sectional pricples underlying these legal fields and made some proposals for legislation and legal practice.The research results are to be summarized in three points which turn (hinge) on the recent movement of diversification and speeding up of the process of execution and bankruptcy procedures.1.The first concerns the importance of the extra-judiciary procedures for diversification and streamlinig of the process of the execution and bankruptcy. Besides M & A in U.S., in France, the notaires and commissaire-priseurs developed the procedures such as la vente aimable, la conversion de la saisie en vente volontaire, l'ordre amiable, l'ordre consensuel etc.2.The third concerns the importance of those who manage the execution and bankruptcy. Besides the court officials, investment bankers, accountants, tax accountants and lawyers play very imprtant roles for diversification and streamlinig of the process inm U.S.and recent Japan. Noteworthy is also the introduction of the Insolvency Practitioners in England in 1986.3.The second is the weakening or restructuring of some secured interests in diversified and speeded up procedures of execution and bankruptcy. The question is double. The first question is how far weaken the secured interests against the creditors, the second is how far weaken the transactional creditors among whom wages employees and contractors are practically important, against the financial creditors.