A Research On The Right Of Reclamation In Securities Bankruptcy

Securities bankruptcy would involve various more complex legal relations and a large number of creditors. Once a security company enters the bankruptcy proceedings, the bankruptcy administrator of the security company shall clarity various legal relations and be sure to protect the interests of the creditors and various obligee, so that to compensate them fairly, resolve the risks of the security market, digest and absorb various conflicts, strengthen the confidence of the investors on the security market and enable the market security to develop steady and healthy. While to be compare with the bankruptcy of other general corporations, the ones in legal relations with the security companies are not only the stock exchange, but also individual investors, institutional investors, security register and clearing agencies, security investors protection funds and other various bodies and securities market intermediaries. as a financial institution, the asset structure of a security company is complex. A security company owns not only its own security assets, but also other types of assets including real estate such as houses, as well as properties such as cars and computers, coupled with the clients'assets of transaction settlement, such as transaction clearing deposit, stocks, bonds, securities, etc., this makes the complex assets of a security company even more complicated. When a security company goes bankrupt, for such assets are more abstract than those physical assets, what's more, the current laws of our state is ambiguous for this, therefore, many creditors have sought to exercise the right of reclamation on such assets. This article focuses on the most controversial part in the settlement of security cooperates bankrupts, the definition of various right of reclamation, the definition of these rights is directly related to the realization of the creditors'interests, as well as how many interests may be achieved.