TL;DRAbstract
Exemption Right is an important system in bankruptcy system, specially in bankruptcy liquidation system. But in our legislative system, there is neither the concept of the ”Exemption Right”, nor the specific claim on the exercise in the bankcrupt system such as how to use the right. By comparing the latest achievement in exemption right legislation in Germany and Japan, and proceeding from both active legislation and legislative theory, this paper offers proposals of bettering the first priority claim in our country. At the same time this article also analyses the key problem in the legislative theory of how to deal with an exemption right in bankruptcy proceedings and the relationship between a special analysis, and points out that: exemption right, as the insolvency law provides for a priority claim to the right, its exercise must be bound by the bankruptcy proceedings; its priorities by performance of just compensation for non-bankruptcy liquidation order of priority for repayment o
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Exemption Right is an important system in bankruptcy system, specially in bankruptcy liquidation system. But in our legislative system, there is neither the concept of the ”Exemption Right”, nor the specific claim on the exercise in the bankcrupt system such as how to use the right. By comparing the latest achievement in exemption right legislation in Germany and Japan, and proceeding from both active legislation and legislative theory, this paper offers proposals of bettering the first priority claim in our country. At the same time this article also analyses the key problem in the legislative theory of how to deal with an exemption right in bankruptcy proceedings and the relationship between a special analysis, and points out that: exemption right, as the insolvency law provides for a priority claim to the right, its exercise must be bound by the bankruptcy proceedings; its priorities by performance of just compensation for non-bankruptcy liquidation order of priority for repayment o
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