| Companies tending to expand scales and extend industrial chains to reduce cost and resist the risk leads the development and mightiness of affiliated enterprises. Associated enterprise plays an increasingly important role and controller is always a creditor of subsidiary company. However, controller's claim naturally has more advantage than ordinary creditor for control and great-affect relations. Wide attention is given to how to discharge the debt to the controller. The Equitable Subordination Doctrine is a positive attempt to achieve substantive equity in bankruptcy by subordinating the controller's claim. Shall this institution be set up in our country and how to set up? After approaching its connotation and development and analyzing present condition of our country, by empirical analysis,comparative analysis,historical analysis, etc, the paper try to answer these questions.First the doctrine has practical significance because affiliated enterprises are ubiquitous in our country, so do associated claims, and controller's claim must be treated with discrimination for its superiority; Second our bankruptcy law lacks special systems to solve the peculiar problem in subsidiary company bankruptcy based on making a comparative study between equitable subordination and existing systems in our law, such as piercing the corporate veil, repealing right and invalidation system, so the doctrine has independent significance in our legal system; Then the paper seeks appropriate breakthrough points to import the doctrine, by comparing its development and legislation in United States, Canada, the district Taiwan, etc, and shows the doctrine is a compensatory remedy aiming at return the injured subsidiary company to normal, and then it gives tentative idea in specific such as legal principles, object, condition and legal effect. |
