On The Restrictions On The Secured Creditor In A Bankruptcy Reorganization And Relief

The reorganization and secured liens are two important legal devices in insolvency law and property law,which made positive implications on the whole economic development.However,due to their respective attributes,there exist certain conflicts between them which can be easily found on the restraint of secured liens and its remedy in reorganization.The Law of the People's Republic of China on Enterprise Bankruptcy has introduced the reorganization into Chinese Law.Whether this legal device can be effectively implemented has much to do with the proper solution of the conflicts,which has drawn much attention.This paper will have a study on this issue.The prologue of the paper discussed the theoretical value and the practical value of constraining and protecting the secured liens in reorganization in view of the important function of reorganization and secured liens.After that,the prologue concretely described the main contents of the paper.The first chapter introduced the theory on the constraint and protection of the secured liens in reorganization.First,this chapter had a brief introduction to the reorganization in insolvency law,including its definition, nature and some information of the reorganization in The Law of the People's Republic of China on Enterprise Bankruptcy;then the paper defined the secured lien in reorganization.After that,the author discussed the theories of constraining the secured liens and remedies from the perspective of the social value of secured liens and reorganization.The second chapter set forth means of restraining the secured liens as well as the negative implications of over-restraining.The first part summarized the approaches of restraining the secured liens and the second part analyzed the negative impact if no remedy was available to the restraint.The third chapter elaborated the ways of providing remedies to the restraint by researching the relevant experiences abroad.First,the paper expounded the "sufficient protection principle" which is very important in American bankruptcy law.Second,the author researched and summarized the related American law,German law,Japanese law and English law on this issue.The purpose of the fourth chapter is to make proposed regulations of secured liens on Chinese enterprise bankruptcy law.First,the paper analyzed the current legal status of this issue in Chinese law,and after that, this chapter made legislative proposals on a basis of foreign legislations research.The final part pointed out the significant implications of secured liens as well as its restraint in the reorganization.In order to fulfill the aim of reorganization and do no harm to the secured liens,the key is to keep balance between them.