Study On The Liquidation Group System In Compulsory Liquidation Of Corporation

Along with our socialist market economy increasingly perfect, the legal systemneeds to be continuously improved. A perfect market legal system should include notonly the rules of market access, but also that of market exit. As the final period of thecorporation existing, whether the corporation can safely, fairly and orderly exit fromthe market is related to the interests of creditors and shareholders, which is asimportant as the establishment of the corporation. As the last barrier for creditors torealize their creditor’s rights before the corporation ultimately terminating, the systemof the corporate compulsory liquidation is significant and valuable to prevent theabuse of limited liability of shareholders, to balance the interests of creditors,shareholders of the corporation and social economic order, and is also the importanttopic focused by the circles of theory and practice. While the liquidation group, as themost important institution in the liquidation procedure, is the core of the legalrelationship of liquidation, and is related to whether the liquidation procedure can bein progress and ended fairly, impartially and efficiently.Apart from the foreword and conclusion, this paper is divided into six parts tostudy the system of liquidation group in the corporation liquidation procedure fromthe perspective of protecting the interests of creditors:The first part: analyze the core value of the corporate compulsory liquidationrelated to the protection of the interests of the creditors with the key point of the value of law.The second part: by reviewing the history and based on the present situation, sumup the development of legislation of our compulsory liquidation legal system.The third part: deeply analyze the liquidation group system in our currentcompulsory liquidation procedures respectively from three aspects: composition andselection, rights and duties of the liquidation group.The fourth part: point out the shortcomings of our current liquidation groupsystem for protecting the interests of the creditors, including the legal status of theliquidation group is not clear, flaws of the members of the liquidation group, theoperation procedure of liquidation group exercising liquidation affairs is notconducive to the protection of the interests of creditors, there is no provisions onliquidation payment, and the undertaking to responsibility of illegal liquidation isagainst the basic law.The fifth part: elaborate the supervision system to protect the interests of creditorsin the corporation liquidation overseas.The sixth part: referring to the overseas legal system in the fifth part, put forwardthe perfect measures to protect creditors in the corporation liquidation group system,including: clear the legal status of liquidation group and specific qualifications,improve selection mode of the members of the liquidation group, perfect regulationson rights and obligations of the liquidation group, perfect operations procedure of thecompulsory liquidation, establish and improve the creditors’ meeting system of thecompulsory liquidation, perfect the legal liability system for the liquidation groupviolating the provisions.