Company Compulsory Liquidation System In The Hearing Process

Nowadays, the corporation has become one of the most significant commercial body, the efficient regulation of corporation liquidation is of great importance for the stability of economic activities. However, most of the existing legistrations and theoretical researches are focus on the admittance of the corporation, not the exit mechanism. Particularly, compulsory liquidation is incomplete and out of the practice in the legislation and lacks of the in-depth research. The hearing procedure is able to remedy the disadvantages of the corporation compulsory liquidation because of its special features and functions. And the hearing procedure fully shows the value of the compulsory liquidation and is accepted as the process in the compulsory winding up. But the regulation of the hearing procedure is blank not only in legislation and theory research, but aslo, it is randomless in the judicial practice. Thus the hearing procedure cannot display its value for the insufficient regulation. From the analysis above, the establishment of suitable hearing procedure adapt to the compulsory liquidation, integrating all its features and functions into the compulsory liquidation, is of great value in the legsilation and academic research.This article is divided into four parts. The first one is the brief introduction of compulsory liquidation and the hearing process. it would be well illustrated by two perspectives. Firstly, giving the different viewpoints of the definition of compulsory liquidation, it analyses each perspectives and suggests its own opinions. Secondally, it analyzes the hearing procedure's general characteristics and functions in accordance to the compulsory liquidation.The second part illustrates the value and significance of compulsory liquidation and the improving of the hearing procedure. It will be explained in terms of the system value of the compulsory liquidation and the value of the set-up of the hearing procedure. In conclusion, the hearing procedure is compatible to the compulsory liquidation and promotes the health development of the compulsory liquidation.The third part is the current judicial system of the compulsory liquidation. It is divided into two major points. Initially, it describes the existing problems in judicial practice, indicating the hearing procedure is still difficult to make the great achievement from the law and society effect, and urgent to make the improvement. Secondly, it analyzes the shortcomings and points out the problems need to be solved.The fourth part gives advice on the improvement of the hearing process in the compulsory liquidation. It is well described into four terms: the main principle, the permitted applicants, and the standard of the scope and the detail design of the procedure.