On The Legal Protection Of Creditors Of The Company

Shareholders and creditors of the two closely related groups in the interests ofthe company, protecting the interests of creditors is one of the legislative purposes ofthe Law in China. With the deepening of China’s Company Law Reform, and how toprevent corporate control of abuse of rights, how to protect the interests of thedisadvantaged interest groups, the maintenance of law and justice, enhance thecompany credibility and strengthen the effectiveness of the protection of the lawincreasingly attracted the attention of the legal community. Because it is not onlyrelated to the interests of the creditors of the company, but also involves the problemof the social market trading order and the credit market. Creditors of the company,especially in the outsider status of ordinary creditors in the most disadvantagedposition in the corporate legal system, so, I believe that the company’s creditorprotection system should be run through the establishment of the company operations,settlement is always. Creditors of the company, including convertible debt creditorcreditors and non-convertible debt, the two shareholders have different legal status,subject to legal protection is not the same; generally speaking, the creditors of thecompany in a vulnerable position, shareholders enjoy the company. of rights and therights of creditors of the company is not very good, in reality, often the interests of thecreditors of the company are not protected. The new company law must be givenstronger protection of more operational, this is obviously reflected in the specificprovisions on the protection of the interests of creditors in China’s Company Law, butoverall the Companies Act, the protection of creditors of the company is stillinadequate. The protection of creditors from the research firm legal basis, this paper,combined with comparative analysis of the representative countries in theinternational protection of creditors of the company, more specific analysis of China’sexisting laws on the conservation status of the creditors of the company, pointing outits flaws, at the same time have a choice to learn from foreign creditor protection theory of practical research results, and focus on how to improve the system of legalprotection of creditors of the company. Traditional company law for the protection ofcreditors mainly rely on the company’s own capital system, the statutory capitalsystem protection of the interests of creditors and are done in the beginning of theCompanies Act to develop a more reliable and stable protection. With the continuousdevelopment of the corporate legal system, as well as academia Companies Actreview, the company’s capital from the initial rigidity of slowly reflected in thechanges now.This thesis is divided into four parts, first a brief overview of the legal basis ofthe company’s creditor protection, to analyze the creditors related to interpretation ofthe concept and status, the need for the protection of creditors of the company, as wellas a brief introduction to the status quo of China’s protection of creditors of thecompany. Extraterritorial creditor protection doctrines and systems for the second partof the comparative analysis to the common law, representative national civil lawsystems, for example, discusses the operation of the international system of protectionof creditors of the company, such as the United States "to expose the corporate veil"theory, the United Kingdom," exposed the corporate mask system ", German" directthe responsibility,"Theory, Japan," France personality deny "theory, I think Chinaneeds to learn from the stone hills, draw his country’s rich experience andachievements, and explore new areas, perfect yet mature company protection from itscreditors as soon as possible. Development from the company’s creditor protectionsystem in the third part of the socio-economic background, the significance of thecompany’s creditor protection system, discusses the status of creditor protection inChina. The fourth part of the analysis of defects on the system of protection ofcreditors of the company in China, to improve the system of legal protection ofcreditors of the company to explore in the process of improving the protection systemof China’s Companies’ Creditors must adhere to the theory with practice, it isnecessary to strengthen theoretical study theoretical innovation, but also attachimportance to China’s specific national conditions, and cannot be divorced from theactual situation in China. In the analysis, study and absorb foreign theory on the basisof judicial practice, combined with the protection of creditors of the company in China to carry out theoretical innovation, China’s Company Law legal systemperfected to form a company creditor protection system with Chinese characteristics.