個人債務者回生法의 基本構造와 問題點에 관한 硏究|RISS 상세보기

다국어 초록 (Multilingual Abstract)

Since December, 1997, after the IMF financial crisis, Korea has been trying to enact an unified bankruptcy law to systemize the insolvency law of Korea. However, the lack of professionalism of the 16th National Assembly and the unproductive confrontation between the ruling party and the opposition parties led to the failure of the deliberation on the bill of the unified bankruptcy law which had been presented in February 2003.
In this situation, as the problem of debt defaulters became more serious, the Legislation and Judiciary Committee decided to separate the individual debtors' adjustment issue from the bill and then the National Assembly's subcommittee and the plenary session deliberated on the bill and passed a resolution on it on March 2, the last day of the 245th extraordinary session. This Act was promulgated on March 22 as the Act No. 7198 and is scheduled to be effective as of September 22, 2004.
However, together with the Act, the unsystematic and sporadic operation of other programs which have been already or about to be launched such as the program for debt defaulters, the individual credit recovery assistant program, multiple debtors support program, or the government driven Bad Bank system are confusing even workers of financial institutes or experts as well as debt defaulters.
In this context, it is very meaningful to review the Individual Debtors' Adjustment Act and to examine its contents and problems in order to find out an efficient method to operate it.
So this thesis examines the basic structure and the problems of the Act. Firstly, the basic structure deals with 1) the application procedure 2) the court trial 3) the decision on the commencement of the proceeding 4) the rights of the interested parties 5) the approval and implementation of the payment plan 6) the end of the proceeding.
Secondly, the problems pointed out in this thesis are that the scope of the debtors to which this Act is applicable are not dearly defined, that there is need to reinforce the structure and personnel of courts in preparation for enforcement of this Act, that although the right of secured parties is protected by the priority payment right, it is not clear whether it can still be limited by a preservative measure. And since when the commencement of the proceeding is decided, an auction for exercising security rights is prohibited or shall be stopped (Article 60, Paragraph 2), in result, the exercise of the security right is limited, that the fact that the application of the denial rights under the Bankruptcy Law to this Act is repugnant to the purpose of this Act, that the rights of creditors are excessively limited because no consent or decision procedure is required for the payment plan bill and finally that the Act is not closely connected with the individual workout system which is operating now.
It is my hope that this Act will operate properly so that it may become an opportunity for rehabilitation for individual debtors and make it possible for creditors such as financial institutes to guarantee their credits and rights. Furthermore I hope that this Act will contribute to the development of national economy through the establishment of orders in individual credit system as well as financial transaction.

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