On The System Of Creditor Protection

Corporation, a most vital entity in market economy, is the most typical business organization in modern economical life. Corporation shall lose no close and wide economic connection with other economic entities. Among those connections are mostly the relationship between civil rights and civil obligations. It is widely concerned in all countries how the rights of corporation debtors shall be protected, how the equilibrium among the shareholders of a corporation, corporation debtors and corporation itself shall be maintained, especially how the protection regulations of corporation debtors shall be specified. For this issue involves not only the interests of corporation debtors but also the transaction orders of market economy and economic credit of the entire society. Furthermore, our country lies at the crucial moment of establishing modern enterprise system and exhaustedly developing market economic. Thus there is no denying fact that amplified protection system of corporation debtors shall safeguard the steady development of market economy. So it is of great theoretical and practical significance of the research on how to protect the rights of corporation debtors. This paper is divided into 3 sections, i.e., foreword, text, and conclusions. Text comprises 4 chapters. Chapter 1 deals with the foundational rules concerning debtors. This chapter renders complicated comparison with foundational systems among the limited liability of shareholders, independent legal person of corporation and management of corporation. Chapter 2 deals with a concise description of protection of debtors'rights. Introduction is provided on the concept of corporation debtors, the emergency and development of protection system of debtors'rights herein, so are the analysis of the defects of corporation's basic rules concerning the protection and the significance of protecting debtors'rights. Chapter 3 deals with the comparative analysis of protection rules of debtors'rights. Comparative analysis of the protection system both in China and abroad is put forward from establishment stage, management stage, to liquidation stage of a corporation. Chapter 4 deals with the amplification of protection rules of debtors'rights. It is the key part of the whole paper. The suggestions on the legislation of protection system of debtors'rights is available herein from three amplifications, i.e., the amplifications negative rules of corporation as a legal person, of directors'liabilities for corporation debts, of relative invalidity of corporation ultra vires.