The Research On The Restrainand Protection Of The Secured Claims In Reorganization Proceeding

The first section of this paper is the introduction of the Reorganization Proceeding and the Secured Claims.Then this section gives the definition of the"Secured Claims": the right ought to be settled on the debtor's specific property and be legally registered before the court accepts the case.The second section briefly introduces the content of the Chrysler Reorganization Case ,analyzes the structure of the reorganization plan in this case,points out the key of the litigation: the secured claims are harmed by the way of"fake selling and true reorganization".The third section discusses the legal value of the Reorganization Proceeding and the Secured Claims.The Reorganization Proceeding's value is to balance the interests of the society and the individual.However, the Secured Claims is settled for the fulfillment of the creditor's rights.Such different values leads to conflicts between the two systems.The fourth section is the comparative analysis of the related legal rules in representative countries.The countries includes the United States,England and Japan,etc.The last section is the discussion of the related rules in our country.The section points that the restrain of the Secured Claims is too strict while protection is not enough,which may suffer a lot.Finally,the paper suggests that the protection of the Secured Claims in the Bankruptcy Law of PRC needs to be more detailed,clear and exercisable.