Study On Creditors’ Committee System In Bankruptcy Reorganization

In order to further solve the debt problem of bankrupt enterprises and give full play to the initiative of bankrupt enterprises in bankruptcy and reorganization,the creditor committee should play a role in restraining the bankruptcy administrator and protecting creditors in bankruptcy and reorganization.However,there are still many problems with the creditor committee system.First of all,the creditor committee of China is unclear in terms of membership: whether the secured creditor can become a member of the creditor committee is controversial;the creditor committee lacks the representatives of small and medium-sized creditors,and needs to further protect the interests of small and medium-sized creditors.Secondly,the power of the creditor committee of China is mainly to supervise the powers.However,the supervisory authority of the creditor committee still has problems: the creditor committee of China lacks supervision over the debtor ’ s self-management debtor,and it is necessary to exert the power of the creditor committee to regulate the behavior of the debtor.Because the bankruptcy reorganization procedure is different from the bankruptcy liquidation procedure,the bankruptcy reorganization procedure is more complicated.The power of the creditor committee should not be limited to the supervisory authority,and should play a huge role in the formulation of the bankruptcy reorganization plan.In practice,there are also successful cases to learn from,such as the Zhuangji suit bankruptcy reorganization case,give full play to the creditor committee’s communication and coordination role in the formulation of the bankruptcy reorganization plan.Finally,there is a lack of clear legal provisions on the responsibility and costs of the creditor committee.The daily expenses of the creditor committee should be subject to bankruptcy costs,but in order to prevent the creditor committee from wasting money,the court should set a maximum upper limit for the cost of the creditor committee.At the same time,the responsibility of the members of the creditor committee should be implemented on each member to ensure the interests of the creditors.