On The Protection Of Shareholders’ Rights In The Substantive Merger And Bankruptcy Of Associated Enterprises In China

Under the current circumstances of energy conversion between old and new in China,a large number of group companies,large and medium-sized enterprises will go bankrupt or reorganize,optimize the industrial structure,eliminate a number of high energyconsuming,high pollution,low energy efficiency enterprises,and bankruptcy(reorganization,reconciliation,liquidation)cases will be greatly increased.However,there are no relevant provisions in the current laws and regulations concerning the substantive merger and bankruptcy of affiliated enterprises.The bankruptcy proceedings of large-scale enterprises and group companies also involve many shareholders and investors,whose legitimate rights can not be ignored.In order to safeguard their legitimate rights,our system should keep pace with the current situation of accelerating the transformation of old and new kinetic energy to promote industrial upgrading and transformation,and explore the substantive merger of related enterprises for us.The protection of shareholders’ rights in bankruptcy proceedings provides a practical basis.At present,if the shareholders of affiliated enterprises have any objection to the people’s court ruling that the affiliated enterprises are substantive merger and bankruptcy,they also lack legal remedies,and the legitimate rights of shareholders will not be guaranteed.In practice,the shareholders of the company have objections to the people’s court’s ruling on the substantive merger and bankruptcy of affiliated enterprises.What are the remedies and remedies? This article will provide some theoretical support on how to protect these shareholders’ legitimate rights.This paper will start with the basic concepts of substantive consolidation and bankruptcy of affiliated enterprises,including the definition of "affiliated enterprises" and "substantive consolidation and bankruptcy",discuss and analyze the applicable standards and legal consequences of substantive consolidation and bankruptcy of affiliated enterprises,analyze the impact and protection of bankruptcy proceedings on the rights of shareholders of affiliated enterprises,and through domestic and foreign.This paper tries to analyze the feasibility and necessity of protecting shareholders’ rights in the bankruptcy proceedings of substantive merger of affiliated enterprises,and finally puts forward reasonable suggestions.