The Research On Substantive Consolidation Doctrine When The Affiliated Enterprise In Bankruptcy

In America, Substantive consolidation doctrine is a remedy measure to distribute assets according to the equality power of the courts; it is a useful way to deal with the case of affiliated enterprise in bankruptcy. When the parent company and the subsidiary company both in bankruptcy, the traditional method is regarding the each company as an independent liability body, creditors can only claim the assets of each company. However, in the affiliated enterprise, a subsidiary company may sacrifice its own benefits for the sake of aggregative benefits or other sister company's benefits. So, in the special situation it is necessary to consolidation each company's assets and debts, then form a new creditor's rights, distribute the assets to all creditors.Except introduction and conclusion, the thesis is considered 4 chapters:...