Research Of Special Liquidation Regime

Theroretically, corporate liquidation is usually categorized into voluntary liquidation and bankruptcy liquidation. As a kind of mandatory one between voluntary liquidation and bankruptcy liquidation, special liquidation not only reflects the state's judicial supervision over corporate liquidation procedures but also avoids wasting the judicial resources after entering into bankruptcy proceedings. Our country's Corporate Act stipulates that special liquidation apply to two circumstances, one is that the creditors may apply to the people's count for appointment of the liquidation panel if a liquidation group couldn't be established upon the dissolution of the company and the other is that the shareholders, concerned entities and professionals be organized by the responsible organs to form a liquidation board when the company is ordered by the count to dissolve for it's breaking laws and decrecs. In Japan, Taiwan and other countries and areas, special liquidation in their corporate acts applies to wider ranges, including where there exist severe difficulties in liquidation of dissolved companies and where the liabilities excess the assets. Though our Corporate Act stipulates the conditions for special liquidation, it lacks of stipulation on how to conduct special liquidation and effective measures to restrict those illegal debtors from intentiously escaping their liabilities through the form of company. From the subject of special liquidation, the jurisdictional count, the thesis expounds the should-be contents of special liquidation regime and provides certain reforrential values for emperfecting our corporate law.