China "special General Partner In Creditor Protection

"Partnership Enterprise Law"created a special general partnership of the provisions of law on the introduction of a limited liability partnership (Limited Liability Partnership, LLP) system from the system of Anglo-American law when it was rewised in 2006 . The special general partnership is a variantion of the general partnership in responsibility , which is very good for our country to adapt to professional service agencies after the development of the adopted form of partnership for the promotion of major development and expansion of services afrer our country's accession to WTO, even is of great benefit to international competition for more effective participation . However , as a prototype of the special general partnership , the LLP makes the conflicts of interests between partners and creditors to maximum growth when it was introducing limited liability into partnership .Zhongtianqin Accounting Firm's issuing false audit report with a great many investors'substantial loss has become a singal example of the major service providors'huge compensation. The problem of the balance of interest between partners and creditors was pushed to forward position under the system of limited liability partnership .In this paper, the structure is divided into five parts.The first part , introduction . It points out the necessity to explore the problem of protection for creditors in our country and the significance of writing this article .The second part , our country's legislation and the major drawbacks on the special general partnership .The third part , the principles of protection of creditors . It points out the special general partnership in China is the same as the limited liability partnership in the USA and makes a comparision for limited liability partnership , limited partnership and limited liability company . The fourth part , comparative law study: The law of Anglo-American as an example . It mainly introduces and explores the protective measures for creditors which are accepted and applied in the USA and the United Kingdom . The fifth part , on how to improve the protections of creditors under the special general partnership . On reference of the protections in the USA and the United Kingdom , combined with our existing legislation , it will take some measures to protect creditors under the system of the special general partnership .