Investor Protection Issues On China's Securities Companies Bankruptcy Liquidation

The bankruptcy of companies is not a strange question for theoretical circles or practice sector. But the research of bankruptcy of security companies in china is still in exploration .The investor is a peculiar main body in security company liquidation procedure. The creditor's character in security company is different from in general enterprise liquidation, in the field of the means exploring legal protection is also different. At the same time, bond market builds before long in our country, laws and statutes does not still improved and perfect, investor protection aspect appears comparatively weak in security company liquidation. Therefore, the topic this article is how to improve the investor protects system in bankruptcy liquidation proceedings in securities companies.Combined cases with fundamental theoty, the author bring forward individual view against a little problem appearing in procedure in liquidation in our country security company. By inspecting USA and the European Union's security company investor protect system, think deeply that how to improve the investor protects system in bankruptcy liquidation proceedings in our security company. This article has the following four parts:PartⅠ, submit main direction needed to be discussed by analyzing basic issues of the investor protects in security company liquidation our country. This part is really not brief repeats to an ABC of liquidation, but to emphasize the cause the proposition be chosen. This part turn to be composed of three aspects: First, analyze the difference of the bankruptcy between security company and general business. Bankruptcy law of our country is a fundamental law of Chinese business failures, which does not make special regulation of the liquidation procedure waiting for banking institution .This is harmful for security company to cany out liquidation procedure in practice. In fact, the security company liquidation is so different from the enterprise liquidation. This requires to analyze the difference between them. Investor legal status in second aspects and investor law characteristic in third aspects are to spread out around investor problem mainly. Based on the unique legal status and unique law characteristic of the investor in the securities company, it is necessary to study the problem of protection the investor in the securities company.PartⅡ, analyze the investor of protects system in USA and European Union. The theory in the field is relatively weak in our country, it is to necessary to use relatively mature mechanism of abroad for reference mostly. At present, the United States and the European Union is fairly standard in theoretical study and practical operation. Because of the difference between systems and the degree of economic development, we cannot copy the model of another country. Can only transplant the system being in harmony with our country. Therefore, the author chooses the place being worthy for our country to draw lessons in both countries pattern to describe.PartⅢ, analyze the problem of liquidation in our country security company in practice. The author studied the liquidation case of NANFANG security company .In this case some points worth to praise, at the same time, it is leaving more problems to think. Especially how to effectively use a variety of mechanisms to safeguard the interests of institutions investor and individual investor, and ensure the interests of investor to maximize, the corresponding still lack an effective mechanism, it is necessary to learn from other countries relatively perfect system model. Then, the author bring forward some problem about creditor's rights equality principle, the accepting condition of liquidation, creditor's rights is set mind on and paid off, assets checks up, the bonus can or not being repaid, and analyzing the defects.PartⅣ, by analyzing the problem in our country, and studying other countries system comparison research, the author bring forward personal suggestion of improving and perfecting the investor protects system of security company liquidation in our country. This part is about how to perfect the legal system of the investor protects our country.