On The Legal Protection Of The Company's Creditors

The structure of corporate governance is a problem in the economic field in china, and also is the center of state-owned reform. Guiding by the modern theories of corporate governance. In west, it provides a series of practical ways and theoretical measures for Chinese corporate reform.Capital system as the kernel of corporation legal frame, demonstrates that the consideration paid by shareholder in return for limit liability. To some degree, capital system is deemed to be the liability structure and system designed for shareholder and creditor. The principle of capital ascertainment is characterized on system level by investment. This is the first protection provided by corporation laws for creditor and it is one requisite for investor to involve into corporation. The capital system inevitably bestows credit priority. The alteration of capital is closely related to the reimbursement ability of corporation verse outsider. Therefore, it is necessary to consider credit before the capital alteration. The principle of maintaining capital guarantees that corporation has the ability to payoff credit, prohibit corporation managers from illegally utilize corporation assets and provide real pre-protection for creditor as well as latent creditor.Problems about damage relief to bankrupt creditors are important principle contents of protecting their interests in bankruptcy. To realize the damage relief, it is necessary to carry out the fault-inferring principle so as to deal with civil responsibilities of bankrupt managers. When the creditor's general interests are damaged, the supervisor should be designated as the agent of the creditor so as to start the lawsuit and put it into effect.