Research On Several Questions About Securities Companies' Bankruptcy Liquidation

Compared with other ordinary companies, security companies have many differences in bankruptcy liquidation procedures. We can not find correspond law basis when meet some questions in practicing, and some special circumstances will occur that solve some problems will not conform to the theory of law or not conform to common sense when according to the current law; So this paper is mainly discussing special/problematic/complex questions which occurred in Bankruptcy Liquidation procedures.There are two parts in chapter one. The first part is about bankrupt's estates. This part will mainly introduce the category of bankrupt's estates and how to deal with the Securities assets in Security company, the Security company's bankrupt's estates can be divided into financial assets, non-financial assets and Securities assets, we can discuss the dispose of Securities assets from the following angles, such as the objective of disposal, the way of disposal and the range of disposal. The second part is about security company's bankruptcy claims. This part will mainly introduce the meaning of the bankruptcy claims, the review principle of the bankruptcy claims, the definition of the bankruptcy claims in theory, the reason and species of the bankruptcy claims and the cognizance of the bankruptcy claims in practice. For the meaning of the bankruptcy claims, we can discuss it from Substantive law's angle and Procedural law's angle, for the review principle of the bankruptcy claims, the review principle can be divide into form review principle and essence review principle, the definition of the bankruptcy claims in theory is by comparing with general civil rights, for the cognizance of the bankruptcy claims in practice, we can study it from the following aspects such as the general elements of cognizance, the procedures of cognizance, the subject of cognizance and the cognizance of two usual bankruptcy claims in Securities company bankruptcy liquidation procedures.The second chapter's content is divided into three parts. The first part is about Securities companies' exclusion right. This part will mainly introduce the declare\examination\confirmation of exclusion right and the joint guarantee question. The second part is about Securities companies' recall right. This part will mainly introduce the established standards\cognizance process\cognizance practice of the Securities company's recall right and the disposal expenses of the recall right. The third part is about Securities companies' offset right. This part will mainly introduce the reason\species\characteristics of the Securities company's offset right, the malicious offset right and some special problems of offset right.The third chapter's content includes four parts. This chapter is mainly to discuss the other relevant issues that encountered in the securities company bankruptcy liquidation procedures. The four parts were aimed at account cleaning, repo/reverse repo creditor's rights, fine for delaying payment and affiliates, the above four questions have some particularities in securities company bankruptcy liquidation procedures.