The Internet Creditors’ Meeting-Practice In China And Construction Of The Legal System

The creditors’ meeting is an institution composed of creditors who claim the creditor’s rights according to law.The aim is to protect the creditors’ interests,to bring about the creditors’ rights of taking part in bankruptcy proceedings,express creditors’ intentions and coordinate creditors’ actions.The creditors’ meeting usually held at the site,but when the scale is large or the number of participants of the meeting is huge,this way will produce a series of problems,such as the difficulty of coordinating the time of the participants,and the cost and pressure of organization.The internet creditors’ meeting is a special form of holding creditors’ meetings.It is an innovative measure taken by our country to solve the problems above.It is also a hot issue in the bankruptcy judicial practice.With the help of the platform of creditors’ meeting in the National Bankruptcy Cases Website,the creditors who are so far in the field or having no time for participating in the meetings could get the chance of participating in the meeting and voting on the internet.That could reduce the cost for the creditors for participating in the meeting,and promote the handling of the cases.Since the emergence of the internet creditors’ meetings,it has been accepted quickly by the local courts and the bankruptcy administrators,and is widely applied to some number of some bankruptcy cases that are with too many creditors and widespread social impact in recent years,such as the bankruptcy case of Hebei Lianbang Weiye Real Estate Development Company Limited,the bankruptcy case of Guangxi Liuzhou Luzhai Jinli India Cements Limited,the bankruptcy case of Chongqing iron and steel Limited by Share Ltd etc..These cases are not only difficult to deal with because of their scale,but also are difficult for the extensive concern from the society.And the successful settlement of these cases has further attracted more courts and bankruptcy administrators to pay attention to and try this kind of meeting.But up to now,on one hand,there are still a number of legal provisions about a considerable part of the problems of internet creditors’ meetings.There are still some unsatisfactory provisions in the actual operation.On the other hand,the domestic research on this issue is not plentiful,and it can not provide theoretical support for the revision and improvement of the legislation.This paper intends to make a preliminary theoretical study of the internet creditors’ meeting.Through theoretical analysis and practical experience summary,we will discuss the existing problems in the operation of the existing system,and try to make recommendations based on the current situation of legislation and practice.To study the internet creditors’ meeting,we should first combine the relevant legal provisions and the theoretical analysis of the concept of creditors meeting,to make a clear definition of the internet creditors meeting,and then discuss the applicable basis from two aspects: feasibility and necessity.Through the research on the network operation of the creditors’ meeting,especially on the details of the process of the work of the meeting organizers,and a summary of various situations that occur in the actual case,can have a grasp of existing problems of the internet creditors’ meeting.Basing on the above research and analysis,the problems should be solved from two aspects mean legal system and supporting measures.A series of applicable and feasible rules such as voting rules and question answering rules should be established.The work through technical improvement and the work before the internet creditors’ meeting should be strengthened.