Creditor Protection. On The Termination Phase

The modern corporation law pursues the perfect unification of dual benefit protection of the shareholder and the creditor.It is most important to protection of the creditor at the terminal stage because it does relate to finally realization of creditor's benefit.It originally should have been essential to our corporate legislation, but the realistic situation is that the protection system of creditor at corporate terminal stage is most imperfect. Besides the concept of corporate termination has not been defined, regulationgs of corporate dissolution and corporate liquidation have many loop-holes,which give the shareholder exploitable opportunities. Although there is a improvement in the new revision of the corporation law, it still has all sorts of flaws.Therefore , the corporation law need a further consummation.This paper,absorbing fully domestic and foreign related theoretical research achievement,with reference to regulations arrangement in the developed country, adopting methods of historical,positive and comparison analisis and so on ,beginning with definition of the corporate termination ,tries to study how to protecting the creditor in order to establish a perfect protection system.The full text amounts to more than 30,000 words.Besides introduction and conclusion, the text is divided into four parts together. The following briefly introduce the main content of the article:Part one:The summary of protecting the corportate creditor .Firstly, the creditor's classification is introduced . According to the reason why creditor's rights happen, the corporate creditor can be divided into two type :an agreement creditor and a tort creditor. Secondly the paper probes into the changes of creditor's status. The status of the corporate creditor has experienced the changes from the traditional corpoertate law idea of putting shareholder's interests first to the modern corportate law idea of emphasizing community responsibility.,which is closely related to development of the economics theory. Secondly, the author analyzes the risk that the corportate creditor faces . The source of risk mainly includes fore kinds: The company is excessively in debt; The company runs the speculative risk; Company's financial affairs practise fraud ; And the company winds up whithout liquidaion. Finally,the author recommends current situation of the corporate creditor protection.