Analyze Of Legal Issues About Shareholders' Debt Financing

In today's society, persons pay more and more attention to the credit as Property rights. For example, investor makes use of credit as capital, which can make the company's capital more adequate. In fact, credit investment can be treated as a kind of the transfer of credit. It is an important topic of claims investment to protect the rights of the assignee to obtain the clams effectively, and maintain the safe status.Firstly, I made the definition of credit investment and outlined its characteristics, and described the significance of credit investment in the modern society. I claimed that the credit investment means the change of two right, and this investment pattern is a concept on the right flow. Then on, I discussed the significance of credit investment in today's society, that is the reflects of the rich subject of investment, the promotion of the maximization of social wealth and the development of company capital system.Secondly, I analyzed legal basis of credit investment from three levels, which are the property feature of clams, the transfer of credit and the principle of autonomy. Thus I can fund theoretical basis for the reasonable system.Thirdly, with the corresponding legal system abroad, I stated the legislative situation of credit investment, cited the relevant legislation of the world's the major countries, which belongs to civil law or common law countries. I compared the two types, which take the different attitude to credit investment, one is strict and the other is lenient. From the two legislative approach, we can see that the development of this system reflects the capital role changed from credit function to the business function, also reflects the company's capital system changed from the strict statutory capital system to the authorized capital system. And I listed the domestic legislative, executive and judicial organs'attitude to credit investment, reflecting the credit investment phenomenon in practice, such as the credit-stake change. The phenomenon has surpassed the old company legislation, so as to the new legislation to change the attitude of credit investment for the foundation in reality.Fourthly, I analyzed the restrictions on the credit investment, which means generally those do not have the transferability of claims can not be used for investment, mainly in the physical characteristics credit. Then I responded to the current theoretical view, which claims limitation to some kinds of this investment such as expired credits, none transferring credit by agreement and so on. The author pointed out that those credit did not lose the investment foundation based on the free market or limited control concept.Finally, I stated objective disadvantages of credit investment. They are insecurity, arbitrariness and the hidden nature of the existing. On the basis of the existing legislation in the company's shareholders responsibility, I made a few legislative proposals against the disadvantages of credit investment. First of all, design registration system for the transfer of claims, in order to avoid the multiple transfers, then overcome the disadvantage, which is that company's interests cannot be protected; Secondly, the proposal on the creation of the security responsibility for the investor to overcome the risks, which the claims cannot be carried out. Finally, the investor claims against the specific circumstances, the proposal on the expanded ratio of credit investment.