THE DILEMMA AND STRATEGY OF BANKRUPTCY OF PRIVATE SCHOOLJournal: Science and world (Vol.3, No. 28)
Publication Date: 2015-12-24
Authors : Wang Shuai; Xiao Yukun;
Page : 10-14
Keywords : private school; bankruptcy liquidation; dilemma; strategy;
There was a paradox in property right relationship and corporate positioning, and the legislation of bankruptcy is extremely imperfect, which has hindered the exit mechanism of private school. Although the “Private Education Promotion Law” has provisions the payment sequence of bankruptcy assets after the private school unable to continue operation and termination due to insolvency, but there was no clear specific procedures for bankruptcy and liquidation. Because the theory preparation and legislative exploration are simple and crude, the judicial practice of private school’s bankruptcy and liquidation suffered setbacks. For now, according to the judicial interpretation, “Enterprise Bankruptcy Law” shall be applicable to the procedure for bankruptcy liquidation of this case type. But ignore the value between public service, autonomy and reasonable return of private school, also against the lawmakers expected of “promotion”.
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