Mixed Joint Guarantee

Economic development needs the guarantee system to ensure the smooth of financing activities, there are many guarantees and security interests which are coexistence on the same claim, its purpose is to provide more effective protection of creditors, but because of the lack of coordination within the legal system, it makes the mixed joint-guarantee of the superior security restrictions. In the study of interests which in various theoretical models of mixed joint-guarantee, this paper points out the interests of creditors should be established that the absolute priority for the value orientation, and use it as the logical starting point for building the guarantee system of mixed joint-guarantee.In the design of specific rules, it should be the priority in ensuring the protection of the interests of creditors, and under the premise of this, it should focus on the protection of the interests of the guarantor, so by subrogation claims simultaneously with the way the debtor can not repay the debts between the risk of the guarantor to share the same time, sponsor exemption to establish systems to prevent improper to dispose of their secured creditor rights, harm the interests of the Guarantor.