Research On The Protection Of Shareholders' Rights And Interests In Bankruptcy And Reorganization

The Enterprise Bankruptcy Law, which was implemented from 2007, has many detailed provisions for the protection of creditors’ rights. Although the shareholders’rights are also mentioned, most of the relevant provisions are too principled and the specific rules are not vested clearly. It shows that the protection of shareholders’ rights is always ignored in reality. A good reorganization plan could save a company which is about to collapse, making it back to life, so make a reasonable reorganization plan is one of the most important parts for enterprise. Shareholders in the process of the reorganization should have the right to apply for reorganization, the right to be acknowledged information, the right to participate in the reorganization and the right to vote on reorganization plan. If the exercise of these rights can be ensure, the shareholders’rights will be protected better. Therefore, this article focuses on these rights, combine the relevant rules in "Bankruptcy Law" to analyse the problems that exist in the rights of shareholder, such as the shareholders know poor about the restructuring process, shareholders can not fully participate in the reorganization proceedings and the voting system of shareholders is not clear, and so on. Combine the actual situation of bankruptcy reorganization in China and the relevant experience in foreign laws to give the suggestions, such as relaxing the restricted conditions of the right to apply for reorganization of shareholders on some extent, clearing the ways to get information about the restructuring process for shareholder, giving shareholders the qualification of drafting reorganization plan and establish the Shareholders’ Committee to achieve the right to participate in the reorganization of shareholders, the compounded voting rules should be used when investor group voting on the draft reorganization plan.