Study Of The Protection Of Creditors' Interests In The Corporate Reorganization

Bankruptcy reorganization as a positive legal system of prevention and rescue to rebuild the company, it just meant that if the company already have the reasons for bankruptcy or has bankruptcy may be renewable and have a revival of hope and the value of the debtor, the application by the interested party and the court for examination and approval, in the supervision of the court or the host and the participation of interested parties, the debtor claims and liabilities, and other interest on the adjustment and finishing on the production and management to maintain and develop their career, from the operational and financial difficulties, regain vitality and development.Corporate reorganization is a huge and complex project, involving the interests of the parties, this article main research the protection of interests of creditors in reorganization.First, the paper attempts to clearly set out the need to protect the interests of creditors. The main analysis in reorganization, the creditors are in a vulnerable state, the possible loss of profits suffered, and the existence of the root causes of this risk-diversification of legislative goals. And thus lay the foundation for the following discussion. The second part deals with the problem of protection of interests of creditors in the beginning of the process. Since the re-filing, to the re-determination of the application is the process to start-up phase. In this process, the main issues of involving the interests of creditors are:What are the company with re-qualification, that is, the scope of application reorganizations; a re-qualified company with the conditions of how we can enter the reorganization process, that is a prerequisite of reorganization;After the court accept the application, between making determination to the application of the necessary re-examination (including the form of review and substantive review); the court can consult the relevant national authorities to ensure that the court ruled is objective and fair; before the Court making its determination, it can accord with the application of interested parties or on its own power,against the debtor's property, business to protect the interests of creditors..The third section deals with the protection of the interests of creditors during the restructuring. Since the date of People's Court ruled that the debtor's reorganization to the date of the end of the processes is restructuring period.In the restructuring period, mainly issue is the improvement of the manager system and the improvement of the system of supervision during the restructuring.Part IV discusses the development of restructuring plan, voting, and approval process to protect the interests of creditors. In the restructuring process,from start to finish, the formulation of a reorganization plan to the Executive, whether from the perspective of what is a vital link and stages, which the past and the future, and plays a crucial role in the hub. This paper will research those who formulated the restructuring plan, a reorganization plan to vote and voting groups rules, the court approved a reorganization plan and its standards and principles to demonstrate comprehensively.Conclusion section summarizes the author's views and attitudes, corporate restructuring, protection of the interests of creditors is a very difficult task, re-improvement of the system needs a long course of development. We have to improve and implement the restructuring regime, should be based on the specific situation of China's re-establish and improve a system suited to China's national conditions and restructuring. Only in this way, our system of corporate restructuring in order to fulfill the mission can become the many crises corporate law "savior." In short, that playing reorganization's due role, require our sustained efforts.