Legal Issues Of The Interests Of Creditors, Multinational Bankruptcy Protection Study

Along with the development of global economic integration, cross-border bankruptcy cases are increasing. More attention has been put on the issue of protecting the rights of creditors in multinational corporation cross-border bankruptcies. The hardness of coordination exists between countries under different legal systems. The issue of protecting the rights of creditors in multinational corporation cross-border bankruptcy cases is complex and urgent. This article has four main parts.In the first part, the issue of protecting the rights of creditors in multinational corporation cross-border bankruptcies is put forward. The connotation and special legal features of multinational corporations, the cause of facing threat and specific infringement situation of concerned creditors are discussed in this part.In the second part, the theories of protecting the rights of creditors in multinational corporation cross-border bankruptcies are probed, including disregard of corporate personality principle, substantive consolidation principle and second priority principle. Besides, argument of practicing value and comment are expounded.In the third part, the means of protecting the rights of creditors in multinational corporation cross-border bankruptcies are researched. There ways are discussed: conflict law, substantive law, adjective law.In the forth part, our country current cross-border bankruptcies legislations status quo is analyzed. Thinking and suggestion are presented in terms of status of foreign creditors, jurisdiction, application of law, acknowledgement and assistance of foreign bankruptcy proceedings.