Study On The Protection Of The Interests Of Environmental Creditors In Bankrupt Enterprise

Bankruptcy law has been formulated in order to protect the lawful rights and interests of creditors. It embodies the value basis of bankruptcy law. Environmental creditors are special ones in bankruptcy procedure. They are at a disadvantage no matter compare with bankrupt company or other creditors because of university and indeterminacy in numbers and chronic and latency about impairment of benefit. At present, our country's legal system for protecting environmental creditors'rights is imperfect, and interests of environmental creditors are often violated. Many companies can't afford huge environmental debt in bankrupt, and some companies often use loopholes in the law to evade environmental liabilities, by filing for bankruptcy, cancellation of legal personality and other ways. Strengthening protection for environmental creditors'rights meet the needs of discharging impartially, maintaining order in the socialist market economy and realizing sustainable development.This thesis probes issues about protection of the rights of environmental creditors in company bankruptcy from theoretical basis and practical experience. It also introduces some foreign countries'experience and advances improving suggestions about this on the premise of analysis basic issue of environmental creditors in company bankruptcy and theoretical basis of protection of environmental creditors. This thesis is written from four parts as below.Partâ… is the illustration of basic issues of environmental creditors in company bankruptcy. Environmental creditors are special ones in bankrupt company. Firstly, this part analyses the specialty of environmental creditors by introducing their connotation, status and characteristic. Secondly, it summarizes the historical development of protection of the rights of environmental creditors in company bankruptcy and put forward that strengthen protection for them is necessary to conform to the historical trend of the times and realize sustainable development.Partâ…¡is the analysis of theoretical basis about protection of the rights of environmental creditors in company bankruptcy. First,form the standpoint of jurisprudence, it is in conformity with fair and justice in nomology, embodies the principle of environmental liability and environmental priority in environmental law and goes with the stream of ecology in commercial legislation. Secondly, from the standpoint of ethnic, it is the inheritance of agent na?ve environmental ethnics, encouragement of Marxism and embodiment of sustainable development. Thirdly, form the standpoint of economics; it is the usage of environmental property right theory and in favor of realizing Nash Equilibrium for interest subject.Partâ…¢exposits the investigation that how foreigner protect the lawful rights of environmental creditors in bankrupt company in order to gain enlightenment . Some countries have been taken measures about that such as United States, Japan, and Canada and so on. In the first place, this thesis introduces the certified reference and liquidated order of environmental credit in bankruptcy procedure from foreign legislation and justice. In the second place, it induces lots of methods for protecting environmental creditors after terminating the enterprise bankruptcy procedure. In generally, this protection is strengthened by expanding the scope of environmental responsible subject, formulating environmental fund and performing environmental liability insurance. In the last place, this thesis introduces special provisions of affiliated companies. Through the introduction of these aspects, I hope to provide experience and enlightenment for the interests of bankrupt company's environmental creditors.Partâ…£analyses the present situation in our country and point out some choices that we should choose in order to protect the interest of environmental creditors in bankruptcy enterprise. On one hand, on the sequence of bankrupt liquidation, about environmental claims before the time of the acceptance of the bankruptcy petition, personal tort in it shall be applied to the discharge of claims after bankruptcy expenses and debts and before labor claim: but compensation for moral damage should be applied to the discharge as common interest, and property claims shall be applied to after other common claims. The environmental liquidating expenses generated by bankruptcy petition should be treated as bankruptcy expense if it is necessary for administration, sale and distribution of debtor's property, or it shall be liquidated as liquidating sequence. On another hand, our country should lead in the stipulation of delayed bankrupt claims to give environmental creditors the right of compensation for claims caused by participating bankrupt procedure. What's more, with the globalization of capital, affiliate companies are springing up sharply and promote the prosperity of our country's economy. But the potential threaten it brings to the protection of our country's environmental creditors'interest. It is necessary to introduce the equitable subordination rule in order to prevent the controlling company infringes the interest of environmental creditor and strengthen the protection for environmental creditors in subordinate company. On the protection of environmental creditors after the termination of company bankruptcy, other countries'experience can be used for reference. Environmental creditors'lawful rights and interests can be protected effectively by amendment of limited liability theory, rest ruction of distribution system for bankrupt property, completion of environmental liability insurance and establishment of environmental liability fund.