Research On The Protection Of Company Creditors' Interests Under The Subscription System

Because the strict legal capital system under the leadership of China's capital credit did not play its role of safeguarding the interests of creditors,it inhibited the enthusiasm of investors and hindered the establishment of the company.Under the influence of corporate asset credit,China completed the reform of the company's capital system of great significance in 2013.Relaxing administrative intervention and strengthening corporate autonomy are the values that this change follows.Since then,a more relaxed system of subscribed capital has been established.The company's capital system is an important part of the company law field,and its changes or reforms will have a profound impact on shareholders and corporate creditors.There are also new propositions and challenges in the theoretical and judicial fields on how to balance the interests between the shareholders and corporate creditors.In 2013,the company's capital system reform was completed under the condition that the relevant theories were not yet mature,and the system matching the subscription system was not established together.This led to the excessive rights of the shareholders and the lack of consideration for the interests of the company's creditors,the protection of corporate creditors interests is facing challenges.This paper starts with the practical problem of how to reverse the interests imbalance of the company's creditors after the reform of the company's capital system.From the impact and the challenges of the subscription system on the protection of corporate creditors' interests,analyzes the necessity of protection of corporate creditors and expounds the problems and shortcomings of the company's creditor protection system in the current corporate system of China,and analyzes the trial basis and ideas of the shareholders' accelerated capitalization cases in the non-bankruptcy situation in which the creditor protection has emerged in the judicial field after the implementation of the subscription system.Through the statistics of the data,we observe the court's tendency to judge the case involving judicial remedies of corporate creditors,and further review the deficiencies in judicial practice regarding the trial of shareholders' accelerated capitalization cases in the case of non-bankruptcy.Finally,in the current legal framework,reasonable proposals for the feasibility of corporate creditor protection are proposed from the legislative and judicial fields.The reality is full of ever-changing so static laws can never be completely compatible with the reality.The company's capital system reform was a great change in the field of corporate law in 2013.The introduction of modern company system in China is still short,and the accumulated experience is still shallow,so we can't expect every system change is perfect.As long as we do not stop thinking and exploring and draw on advanced legislative experience from abroad,and timely correct the situation in the real world that is incompatible with legislation and judicial interpretation,then our legal system will continue to be improved.then the interests of the company's creditors will be ideally maintained.Ultimately,the interests of the two major players in the market of corporate creditors and shareholders will continue to be balanced,and the market order will be more stable.