On The Legal Regulations Of Affiliated Enterprises Bankruptcy's Illegal Activities

Affiliated enterprises are the product of socio-economic development is a joint enterprise from a single form into form, which have become a pervasive economic phenomenon. Associated with affiliated enterprises' formation, with the promotion of resource sharing among enterprises, business diversification, improve market competitiveness, reduce business risk and other functions, but it also brings a series of negative effects, such as the controlling enterprise abused affiliated relations that damaged minority subordinate enterprise shareholders' interests, the interests of creditors, and social public interests, things happen from time to time. Unfortunately, the negative impacts of China on the above have yet to attract much attention. China's current bankruptcy law is designed for individual bankruptcy, while the affiliated enterprises bankruptcy arises when many different and individual enterprise bankruptcy specific issues, in particular the emergence of illegal activities associated with bankruptcy. In the affiliated enterprises, due to the existence of association for corporate interests among the members of transportation and provide convenient conditions for the transfer. But also makes the affiliated enterprises in bankruptcy, it is easy to implement a false bankruptcy and bankruptcy fraud and other illegal and harm minority shareholders, creditors, the interests and social public interests. Although China's current relevant laws and regulations associated with bankruptcy can solve some of the illegal activities, but there are a lot of deficiencies, so an urgent need to improve and build our regulatory illegal activities associated with the enterprise bankruptcy system. This article is divided into five parts covering:The first part, bring up the legal problems of affiliated enterprises bankruptcy. This section mainly analyzes the concept of affiliated enterprises and internal characteristics, affiliated enterprises listed the main forms of bankruptcy offenses: false bankruptcy and bankruptcy fraudulence, and illegal activities associated with bankruptcy limited liability of shareholders, corporate independent legal status, claim the principle of equality challenges.The second part, the legal basis of the three systems and its evaluation. This section mainly analyzes the disregard of corporate personality, equitable subordination doctrine, substantive consolidation doctrine, as well as the legal basis of the principles of their respective legal assessment, the same time, these three systems were analyzed and compared.The third part, affiliated enterprises bankruptcy illegal activities of international legislation and practice. This section focuses on the United States, Germany, and China's Taiwan region associated with dealing with illegal activities of the relevant bankruptcy law, as well as our regulatory illegal activities associated with bankruptcy to bring enlightenment.The fourth part, dealing with affiliated enterprises of China's existing bankruptcy law illegal activities and deficiencies. This section focuses on some of China's present address associated with bankruptcy illegal activities of civil law, corporate and bankruptcy laws, as well as the relevant provisions of the respective part of the solution associated with the legal effect of bankruptcy on the lack of offense.The fifth part, China's regulatory system for illegal activities associated with enterprise bankruptcy system, improve and build. This section mainly with China's specific conditions and put forward our regulatory violations associated with the legal framework for'bankruptcy, "a basis and two complementary," namely, disregard of corporate personality, based on substantive consolidation, equitable subordination supplemented by affiliated enterprises bankruptcy illegal processing framework.