Study On The Legal Issues Of The Creditor’s Rights Investment Of Shareholders

Today, the creditor’s rights investment in the theory circle of our country is still controversial.The Company Law of the People’s Republic of China (revised in 2005) has given space for creditor’s rights investment, but the legislation is so principle and vague to creditor’s rights investment that it fails to give full play to its functions. Creditor’s rights is the important property of the investors and there is no legal obstacles for investment and it has assets credit theory basic theory support such as the method of game theory of value and forms of investment. On the one hand, the creditor shall be beneficial to gather capital and to improve the efficiency of capital, so it has the important function and meaning; On the other hand, the characteristics of creditors such as the qualitative and trelativity of creditor’s rights decide their own debt financing is special and high risk, which need to be treated with cautions.Under the development tendency that the creditor’s rights investment has been admitted in legislation of many countries and gradually the theory and practice horizon in china of company law also have open eyes to the creditor’s rights, it is the legislation rational and pragmatic choice for China’s legislation to admit the creditor’s rights investment with regulating its risk. In terms of institutional arrangement, this paper is a through the regulation of creditor’s rights investment program (set contribution of subject and object conditions, evaluation mechanism, voting mechanism, the mechanism of the public, etc.) to ensure that the specification of creditor’s rights investment, high efficiency; Second, by setting the entity responsibility mechanism should be established, investors, shareholders, directors, executives, and intermediary institutions such as the main body of respective responsibilities) in order to realize the transaction security of the creditor’s rights investment.This article starts with the basic principle of creditor’s rights investment,on the basis of researching creditor’s rights investment theory, feasibility, necessity, risk, institutional arrangement and so on, the author puts forward his own thinking and recommendations about how to build the system of creditor’s rights investment in China from the procedural and mechanisms of creditor’s rights investment.