The Protection Of The Interests Of The Creditors Of The Company Division

As an important part of company operating activities, an indispensable part of resource allocation and capital operation, and a significant form of company capital innovation, company separation plays an enormous role in improving the company’s operating efficiency, reducing the company’s internal management cost, arousing the enthusiasm of shareholders and investors, and maximizing the capital value of company. Unfortunately, although having introducedcompany separation system from foreign legislative cases when our country making the company law, relevant provisions of company separation and creditor protection are too simple and lack of practicality and feasibility, thus legislation about company separation and creditor protection need to be further perfected. It is of far-reaching significance to consummates company separation and creditor protection systems which helps the promotion of legislation relating to our country’s company law and the promotion of national economy development healthy and orderly. This paper comprehensively introduces systems of creditor benefit protection in company separation, in respect of the concept of creditor benefit protection, the present status and necessity of creditor protection in time order, and put forward views on the possible legal risks and preventive measures relating to creditor protection.This paper discusses how to perfect our legal system on creditor protection of corporate separation, based on presenting related basic theory of company separation and creditor protection, and on drawing the legislation experience of continental law system and Anglo-American law system. This paper analyzes the company separation and creditor protection system in our country, the present situation of company creditor protection, the protection of creditor at various stages of company separation, the legal risks and preventions arising from creditor benefit protection. The following is main content of each chapter:Chapter 1 is the introduction of this article which includes main narrative of the paper’s research background, research significance, research status at home and abroad, evaluation of the papers, research methods, research ideas and the main innovation points, etc.Chapter 2 is an overview of researches related to creditor protection of company separation. This chapter mainly tells the different connotation of company separation in company law and theory, and introduces the type of company separation, then analyzes the meaning and type of creditors. Although the current company law in our country has clearly stipulated the company separation system. This chapter explains basic concepts which are the cornerstones of further research.Chapter 3 is the present situation and necessity of creditor protection. First of all, this chapter analyzes the current situation of the creditor protection in company separation from the perspective of legislation and practice. Secondly, further analyzes the reasons of lack of creditor protection in company separation. Finally, it discussed emphatically the necessity of creditor protection in theory and practice.Chapter 4 is creditor benefit protection before company separation. This chapter analysis the advantage of notification and announcement about creditor information before the company separation, further discusses the feasibility of using Internet in revealing company information. Finally discussed the feasibility of drawing lessons from censorship of foreign independent supervisors before company separation.Chapter 5 is creditor protection in company separation. This chapter firstly analyzes the necessity of creditor’s objection during the process of company separation. Secondly, this chapter emphatically discusses the rationality of independent supervisor intervention, and put forward some ideas about independent supervisor intervention with the combination of supporters’ and opponents’ opinions.Chapter 6 is creditor benefit protection after company separation. This chapter mainly analyzes various legal risks for company creditors after company separation, and putting forward analysis of joint and several liability system in terms of these risks, and connecting with the reality in our country legal environment. This chapter also clears company executive responsibility system, invalid litigation and guarding system and systems on cancellation right of creditors, etc.