Research On The Effect Of Corporate Debt Restructuring Under The Debt Committee Mechanis

Against the backdrop of rapid economic development in China,market competition is also facing new problems and contradictions.In recent years,with the continuous emergence of classic cases of debt restructuring,the market’s understanding of the important role of debt restructuring in struggling enterprises has also matured.Through real cases,it can also be seen that creditors are increasingly recognizing the role that debt restructuring plays in reshaping the asset and liability structure of enterprises,restoring their profitability and sustainable operation capabilities,and improving their debt paying ability,which cannot be ignored.In addition,debt restructuring through judicial restructuring procedures has helped a large number of enterprises in financial difficulties,and its restructuring model has achieved the rebirth of enterprises.In 2020,the COVID-19 broke out,the economy continued to decline,the market continued to be depressed,and the financing environment deteriorated.Under a series of adverse effects,the number of enterprises entering into debt restructuring also continued to increase,the scale of corporate debt continued to break new records,and the number of listed companies restructured reached a record high.As a system for protecting creditors’ rights,the Debt Committee is a permanent supervisory body of the creditors’ meeting during the period of enterprise restructuring or bankruptcy.Its main responsibility is to partially exercise the daily rights of the creditors’ meeting under the authorization of the creditors’ meeting,and to exercise supervisory power over the management,disposal,and distribution of the assets of the debtor enterprise,but not directly participate in the restructuring process as a gaming party.In recent years,the Debt Committee has played an important role in assisting enterprises in debt restructuring,helping them overcome debt difficulties,and balancing and safeguarding the interests of multiple parties.This article adopts literature research and case study methods.Firstly,by reviewing and summarizing relevant domestic and foreign literature,the theoretical basis and concepts involved in the article are defined;Secondly,from the perspective of the Financial Indebtedness Committee,this study selects a large group of private listed companies as the research object,introduces the basic situation of the company,analyzes the reasons why it is in debt crisis and faces delisting risks,and studies the debt restructuring plans formulated by enterprises under the mechanism of the Indebtedness Committee and the impact of the results;Then conduct an effect analysis to compare the financial and non-financial effects before and after the corporate restructuring;Finally,summarize the case and draw inspiration and relevant suggestions.Through case studies,this article provides a comprehensive analysis of the debt committee mechanism in helping enterprises restructure their debts,and recognizes the important role that the establishment of the debt committee mechanism plays in resolving debt crises.It is hoped that this article can serve as a reference for enterprises facing similar difficulties in resolving crises to some extent,and also promote the healthy development of the financial industry.