"Deep Rock Principle" Introduced In The Bankruptcy Proceedings

In the bankruptcy procedure, how to realize to the bankrupt creditor’s rights protection for creditors is particularly important, and the parent company outside of the third more important. At present, China’s relevant laws and regulations for the parent company, third people of creditor protection not perfect regulation, but the theory that most should draw lessons from foreign on this problem in more mature rules and practices. In Taiwan and other countries to this problem the law or legal precedent has been more mature. Anglo American Law of many countries established specialized processing company bankruptcy issues "deep rock doctrine. The principle of justice in the subsidiary company in bankruptcy procedures, if the parent company through the implementation of "injustice" obtain the subsidiaries of the company creditor’s rights, the creditor shall not parent company inferior priority over other creditors. In order to better protect the parent-subsidiary company, third people of creditor’s rights, China should draw lessons from foreign advanced practices are.This paper through the analysis of China’s current parent company, third people of creditor protection system deficiencies, in reference to foreign mature correlation system based on the exploration of China’s parent company, third people of creditor protection, The main content of this paper includes the following aspects:First, guarantee the parent company outside third people to exercise the rights and restrictions on the exercise of the right of the parent company combination, so that the third party claims to be effectively protected, we not only need third people to protect the legitimate rights of exercise, but also to the parent company of improper exercise of power to limit; Second is in China and the countries of Anglo-American law system of parent-subsidiary company besides third creditor protection status quo and deep rock doctrine is introduced, through the analysis of our country and other countries outside of Parent-subsidiary Corporation Third creditor protection present situation, then explains the necessity of the introduction of Deep Rock Doctrine, deep rock doctrine into the feasibility and deep stone principles related to content; Third is the construction of our country in the process of bankruptcy of parent-subsidiary company creditor protection system out of third, mainly including:the parent company outside third people, safeguard the exercise of rights and the exercise of the right of limitation of parent combination, so that the third party claims to be effectively protected, we not only. need third people to protect the legitimate rights of exercise, but also the parent company of the improper exercise of power to be restricted; secondly, the parent-subsidiary company outside third party claims declaration and the declaration of the creditor’s claims which confirmed, the premise of protecting, creditor’s rights confirmation is corresponding to protect creditor’s rights are recognized; thirdly, the management of bankrupt property and distribution, which is the effective management on fair allocation of security, fairness allocation is the protection of creditor rights target.