Abstract: In view of the phenomenon of bankruptcy and reorganization of listed companies emerging and showing a trend of rapid growth, this paper exponds and constructs the system of the judgment in bankrupt reorganization value with fairness and justice as the starting point, combined with the cases of "Super Solar" and "Suntech Solar Power". The author demonstrates the system elements such as the subject, the object, the basis, the characteristic and the principle, so as to provide the reference for the bankruptcy reorganization stakeholders' decision-making on the bankruptcy reorganization of the debtor enterprise.