Legal Protection Of A Company's Creditors

The legislation of the One-person Company has been established following the re-amendment of Corporate Law promulgated in 2005. However, the exploration and research on this issue will not be stopped in spite of the existing legislative provisions,and rather, further research is required in both theory and practice. Considering the space limitation, the paper focuses on the theory, legislation and practice of the One-person Company from the protection for creditors'benefits.In the first part, it introduces the basic concept, historical evolution and legislative situation in various countries concerning the One-person Company and analyzes the sameness as well as the differences between the One-person Company and other types of companies. The One-person Company, enjoying the qualification of corporation and the limited liability of shareholders, also brings a strike to the existing corporation system, which is directly reflected in the aspect of unfavorable protection for the creditors'benefits. Thus, in the second part, it educes the conclusion that it is necessary to protect the creditors'benefits of the One-person Company. The third part analyzes and evaluates the relevant provisions on the protection for the creditors'benefits in Corporate Law in 2005. It points out the weaknesses of the existing legislation while confirming the necessity for the legislation. The fourth part explores the new assumption on the system of the protection for the creditors'benefits of the One-person Company in our country. Finally, the author believes that, besides the existing provisions of Corporate Law, it requires the further improvement on the system of the protection for the creditors'benefits of the One-person Company. We can refer to the mature legal systems in foreign countries and integrate the practice on both legislation and justice of our country to achieve the goal of perfecting the system of the One-person Company.