Research On The Role Of Secured Claims In PRC Rehabilitation Proceeding

This paper first analyzes different roles of secured claims under different legislation purposes and believes that the establishment of legislation purpose of rehabilitation results in the restrictions of secured claims, and analyses the necessity and theoretic basis for such restrictions.In Chapter 2, this paper analyzes the roles of secured claims under rehabilitation proceedings across the world including super protection of such claims on German law, super restriction on France law, and combination of protection and restriction on Britain, United States and Japan law. This paper believes that despite the differences among three models, their common points are sound remedy measures accompanied with restrictions on secured claims in rehabilitation proceedings.In Chapter 3, this paper analyzes the improvements of 2006 PRC Bankruptcy Law (the"New Law") on the protection of secured claims. Meanwhile, this paper also points out such defects of the New Law as stay, execution of secured claims and priority of secured claims in the distribution of the estate when compared with other legislations across the world. Starting from deeply understanding the legislation purpose of the New Law, we should intensify and improve supporting measures of executing secured claims and accelerate amendment steps of other relevant laws so that secured claims really survive bankruptcy.