Research On The Problem Of The Balance Of Interests In Bankruptcy Reorganization

Bankruptcy reorganization is the plight of enterprises assistance system, widely used in market economy countries. It not only represents the core of bankruptcy law from liquidation to reconstruction, and show that the shift in the balance of legislative idea of bankruptcy law from the simple to the interests of the creditors to the interests of the debtor and creditor, to maximize the interests of the whole society until the direction of development. With this change come of is the conflict of interests and contradictions are becoming more and more complex. Accordingly, the traditional thinking frame design can not be the bankruptcy procedure again limited to "the creditors and the debtor", must be placed in the diverse interests relationship, seek the balance of individual justice and social justice, to achieve fairness and justice value of law. In this paper, based on measurable benefits to the subject of rights, from the perspective of the center of gravity to construct in the reorganization of interest relations and the system conducted in-depth research, in order to realize the interest value.The article is divided into six parts. The first part, study on example of "Cang shares" reorganization case analysis and thinking, the conflict of interests among all parties, reflects the defects in our legislation and deficiency, for each subject after the benefit analysis of foreshadowing. And the conflict and coordination of all subject interests in bankruptcy reorganization. This paper mainly studies the common creditors, secured creditors, shareholders, the social and public interests. Various kinds of subjects with complexity in reforming the conflicts of interest in the program, but their interests is also be coordinated, because they have a common goal-the enterprise to maintain. The second part, the construction of interest analysis and system of common creditor. Ordinary creditor enjoys is the lack of special protection measures of creditors. Ordinary creditor is one of the largest groups of reforming in the number, but also by the influence of a group’s largest program. This paper analyzes the restructuring in the interests of the creditors, and with the relevant foreign research reforming practice pen and ink illustration, about ordinary creditor rights protection system can be divided into the following several aspects:(1) defining the procedure applicable scope and conditions, to avoid the abuse of process; (2) to ensure that the ordinary creditor’s procedural rights, promote their active participation in the program; (3) the maintenance of common creditor entity rights and interests, to prevent excessive damage to its. The third part, the construction of benefit analysis and institutional guarantee of creditors. Secured creditors in the overall is limited, should give the secured creditors in the restriction of the corresponding remedial measures, so as to achieve social fairness and justice. There is additional supervision mechanism of the secured creditors should be in the process of reorganization, the establishment of compensation mechanism to guarantee creditor’s rights damage etc.. The fourth part, this paper to protect the interests of the debtor and the adjustment from three aspects. One is the reforming reasons; two is the selection of managers; three is to assist in the implementation of the restructuring plan right. The fifth part, the construction of benefit analysis and institutional shareholders. The author thinks, reforming legislation should be to regulate shareholders from two aspects:the rights to protect shareholders’ right to participate, shareholders of the entity rights restrictions. The sixth part, the construction of social benefit analysis and system. Reforming legislation mainly through the following rules to safeguard the interests of society, by promoting the debtor recovery to indirectly realize the maintenance of the social interests, through certain specific system to directly protect the special interests of society, strengthen the protection of the interests of society in the relevant legislation.