The Research On The Conflict Of The Protection Between Creditor's Right And Shareholder's Interest In Corporation Law

There are huge amounts of documents concerning about the protection of company creditors provided by Corporation law.The two major clues run through the business law are the protection of creditor's right and protection of shareholder's interest.In reality,Corporation law is launched focusing on these clues.Protection of shareholder's interest is the main clue of Corporation law,while protection of creditor's right is the subsidiary one.However,this orientation of the clues is set simply from the perspective of the tasks of Corporation law,it doesn't lead to the conclusion that Corporation law only provide minor,inferior and subsidiary protection for company creditors.Actually,protection of creditor's right and protection of shareholder's interest each has strong points in the practice of system design.In this essay,we mainly discuss the conflict between protection of creditor's right and protection of shareholder's interest,including the reason of why the conflict raise,how the conflict manifest and the solution system,namely balance system.This essay is divided into four major parts,the overall composition is approximately as follows:In the first part,we discuss the reason for the raising of the conflict and analyze it based on legal principle.The conflict between creditors and shareholders is virtually two problems,one is the choice between the security of investment and the safety of transaction,the other is the allocation of the investment risks.Creditors and shareholders have unequal legal status and right in a company,thus there are difference between their control power.This is exactly the root of the conflict.In the legal analysis,we mainly elaborate the shareholder supreme theory,stakeholder theory and social responsibility theory.In the second part,we discuss the manifestation of the conflict between the protection of creditor's right and the protection of shareholder's interest.This conflict exist in all the stages of a corporate operating,from its establish to liquidation.In the third part,we analyze the system which can balance the protection of creditor's right and protection of shareholder's interest.In the fourth part,I put forward a series of legislative suggestions concerning the protection of creditor's right and protection of shareholder's interest in the hope of practically balance them in legal system level.