Claims On The Company Law Funded Explore

As the status of creditor's rights has been steadily improved, the topic about the adequacy of the creditor's rights as subscribed capital has also become hotly discussed worldwide. This article starts with the basic concept and principle of creditor's rights and capital, combining analysis of theory and comparison of legislations, in order to make further and deeper research about the feasibility of creditor's rights as subscribed capital.The first part of this article mainly analyzes the concerned concept and theory. First, by stating the status and functions of creditor's rights in modern society, this part demonstrates the trend of treating creditor's rights as tool of investment, and points out the negative effects of creditor's rights as subscribed capital, namely it's characters of unsteady, non-opened and be easy to cause the investment cheat. Second, by elaborating the meaning and classification of capital from the points of economics and company law, this part emphasizes that the profound function of capital is profit making function and briefly analyzes the characters and functions of capital. Thirdly, this part classifies creditor's rights as subscribed capital by different standards and demonstrates the reasonability of creditor's rights as subscribed capital from the point of freedom of investment.The second part of this article mainly discusses the influence of the value inclination of company capital system on creditor's rights as subscribed capital. First, through discussing the dialectical relationship between the two value aims of full use of capital and business security, this part points out that the aim of full use of capital should be satisfied first and the law should loosen restrictions on capital subscription, since the concerning problem which might affect business security can be settled and resolved by other regulations. Second, by comparing asset-based credit and capital-based credit, this part points out that the material guarantee for debt is company asset instead of capital. Thus theoretically, any kinds of wealth, as long as itcan benefit the company, can be used for capital subscription. The third part of this article mainly demonstrates the feasibility of creditor's rights as subscribed capital. First, this part analyzes the requirements for non-cash forms of capital subscription, and concludes that creditor's rights satisfy most of the above mentioned requirement. Second, by citing civil law theories of creditor's rights assignment and offset of debts, this part explains the difference between two main types of creditors'rights as subscribed capital. Thirdly, this part briefly raises the solution to the risks that might be caused by creditor's rights as subscribed capital.The forth part of this article is about the relevant legislation practice domestically and abroad. First, this part discusses the relevant legislation of Great Britain, America and Japan and points out that more and more countries have given up the capital-based credit theory and received creditor's rights as subscribed capital .Second, this part studies the domestic legislation concerning creditor's rights as subscribed capital and judicial attitude towards the latter; then this part points out that creditor's rights is principally acceptable for capital subscription according to our country's new company law but the realization of it still remains uncertainty as the relevant law is so general.The fifth part of this article raises the suggestions about the improvement of our country's regulations regarding creditor's rights as subscription capital. First, this part states that the law should make the legality of creditor's right as subscribed capital more certain and clear. Second, this part points out that the relevant capital subscription examination system should be established. Thirdly, this part states that the two main types of creditor's right as subscribed capital should be regulated separately.