Research On Supervision Rights Of Creditors In Company Law System

Company is not only the basis of modern social, economical and commercial laws to be established and maintained, but also the most important principal part in market economy. The benefit of the company itself, shareholders and creditors are all "binding" with the company. During the course of legislation of Corporation Laws, each country makes efforts to seek the balance among the benefit of three parties, which provide legal protection to the benefit of shareholders, meanwhile pay more attention to legal status of the creditors of the company. Chinese Corporation Law also concerns about that, the legislation tenet of "protection of legal rights to the company, shareholders and creditors" is stipulated in the first item of Corporation Laws. Significant changes have been seen on the protection measures to creditors during the revision course of Corporation Law. The protection to the creditor's benefit is changed from preventive measures to relief afterwards, such as application the system of "piercing the corporate veil", cancellation of limited liability of shareholders and granting creditors the directly claim right against the shareholders, but the existent problem is that only when the factual damage have occurred can the relief be given afterwards, and sometimes directly claim against shareholders can not be successfully fulfilled. Therefore, the author try to search after a new kind of pattern, which allow the creditors to participate in the management of the company in advance, they can get to know the management information in time, and also be given the definite supervision, decision-making and litigious rights. So they can take measures to protect their own benefits before the company fall into the management trouble. Meanwhile when the company faces the financial crisis, they can also directly manage the company and take over the management until the company break away from the mess. Before the bankruptcy procedure, the creditors can get through the crisis and avoid greater loss together with the company through reorganization and reconciliation. Then, a whole system including preventive measures, process supervision and relief afterwards can be founded to protect the legal rights of creditors more effectively.