On The Reorganization The Interests Of The Debtor And Creditor Protection

Reorganization system------a milestone in the development of the bankruptcylaw------is characterized by its multi-objects, active merits and multiform rulesregulating kinds of legal relationships. Reorganization system is one of the three backbones of the modern bankruptcy law, together with the Liquidation System and the Conciliation System;while on the other hand ,it do has its unique superority.It is said that only the debor can benefit from reorganization, there are also few remarks on the protection of the debtor,the author here would like to comment on the reinassance of the debtor from four aspectsrthe beginning,the course,the ending and the function of the court.In the process of reorganization, creditor's rights is restrictly limited;what's worse,they will be the victims under the condition of a unsuccessful reorganization. Therefore, we should protect the creditors to assure their rights. After all ,one aim of reorganization is to clear up the relationship between the debtor's liabilities and the creditors'rights.Everyman is born with selfish. Inevitbaly, there are conflicts between debtor's revival and creditor's rights, how to maximumized their rights at the price of the lowest sacrifice is also an main task here.What's more, it is ugent to bulit a new reorganization system in China ,while the old one has finished its mission which went through ups and downs almost 20 years.