Research On The Protection Of The Interests Of Creditors In The Liquidation Of The Company

In recent years, with the sharply increasing number of companies in our country, there are more and more cases of against the interests of creditors during company liquidation in judicial practice. Especially after the revision of the company law in 2014, the establishment conditions of company were relaxed, while the corresponding company liquidation system has not been modified, thus such cases will increase. The approach of how creditors seek assistance to protect their own interests in the liquidation of the company becomes particularly realistic necessity.The paper analyzed the typical cases with the specific issues discussed rather than studied all questions arising in the liquidation, and it was divided into three parts besides of the introduction and the conclusion part.In the first part, in order to make theoretical ground work for the following case studies, the definitions of dissolution and liquidation were presented and the liquidation classification was comprehensive introduced. And at the same time, we elaborated the necessity of protecting the interests of creditors in the dissolution and liquidation of the company.The second part reflected the current situations and the existing problems of creditor’s interest protection during the company’s liquidation through case studies. Firstly, the cases of against the creditors’interests because of the improper notification and bulletin of liquidation group were discussed combined with the self-liquidation process of cases. And then we discussed the civil liability for the improper notification and bulletin of the liquidation team. Secondly, combined with the forced liquidation process of specific cases, some practical problems were discussed during the introduction of reasons for applying the mandatory liquidation, entities of application and the role of people’s court of law, such as no liquidation while it should after the dissolution of the company, liquidation of malicious and inappropriate liquidation, etc. The role of people’ s court of law in the forced liquidation include assignation of the liquidation group members, changing members of the liquidation team, confirmed a liquidation plan, determination of whether to extend the liquidation period and identification of the liquidation reports. Then we made a distinction about the characteristics, obligations and generated time between the liquidators and liquidation obligor and did a detailed analysis of their respective civil liability.On the basis of the first and the second part, the third part provided proposals of improving the company liquidation system in our country combining with judicial practice and referring to the other scholars’ academic point of view in the perspective of protecting the interests of the creditors. The proposals included increasing the bulletin times, determination the specific way of written notification, conformation of the bulletin carrier, improving the liquidation obligors’system according to the companies act and increasing the liquidation obligor subject, etc. And in terms of the liquidator, the professional liquidator system and registered liquidator system shall be established.The paper studied the common problems in company liquidation based on the typical cases and theoretical analysis and found problems from the status quo. The research presented our own views according to the existing research results and hopes to attract more people to pay attention to the protection of creditors in the liquidation of the company.