Research On Creditor Protection In The Uniform Fraudulent Transfer Act

A heated discussion has been aroused among the scholars owing to the relaxation of capital regulation in the establishment stage of the Company Law in 2014.because the relaxation of the capital regulation in the establishment stage is usually based on the strengthening of the capital regulation in the stage of operation,but which in China itself is not strong enough and its protection range is not wide enough plus with the absence of the credit system in our country,Which makes the relaxation of the capital regulation in the establishment stage may lead to a great deal of infringement of creditors' interests.The Uniform Fraudulent Transfer Act(UFTA),the world's first special anti-fraud transfer legislation.The Uniform Fraudulent Transfer Act has become a relatively mature and complete legal system,has a more complete written law and relatively substantial case Iaw.Uniform Fraudulent Conveyance Act originates from the Statute of 13 Elizabeth,which defines the concept of fraud and indicates some initial badges of fraud.However,the Elizabeth 13 Act lacks certainty.The application of the badges of fraud is difficult to be united because of different jurisdictions,so that It is difficult to regulate the fraud and protect the interests of the creditors.The Uniform Fraudulent Conveyance Act,therefore,was created with the aim of seeking conclusive evidence of fraud that would be unmistakably linked to specific facts,concluding the states'confusions in the application of suspicion by succinct legal provisions,and ultimately reducing or even eliminating the differences.The biggest improvement of Uniform Fraudulent Conveyance Law is to classify fraud into actual fraudulent and constructively fraudulent.Different types of fraud have different recognition criteria,which promote the construction of creditor protection.However,with the progress of society,the application of Uniform Fraudulent Conveyance Law also shows the drawbacks.Like some of the concepts are not clear enough and there are various problems in the application.At the same time,because the creditor is in a natural weak position in the legal relationship among the company,it needs appropriate legal interference and protection.The protection of creditors in the The Uniform Fraudulent Transfer Act is complete and appropriate,clarifying the illusory concepts set forth in the Uniform Fraudulent Conveyance Act and proposing a "fair and reasonable" standard to measure the price,As well as on the current creditors and future creditors of fraud transfer,insider priority transfer and other new situations,this new regulations has a very practical significance to the protection of creditors.The Uniform Fraudulent Transfer Act is a complete law which has been thoroughly tested and practiced in time.It has the possibility of transplantation as to the strong pertinence to the weakening behavior of capital in operation stage in China,and its system has its own theoretical framework and also owes completeness and development.The problem of the stipulation of the system of the creditor's right of rescission in the Contract Law of our country makes the transplantation of The Uniform Fraudulent Transfer Acturgent and necessary.Based on the guiding ideology of transplantation like establish regulatory refinement and flexible transplant,necessary cases of guidance and the improvement of quality of the professional judges as the premise,transplanting the merits of The Uniform Fraudulent Transfer Act which suit the present situation in China the creditors' right of relief provisions and statute of limitations to build our own professional anti-fraud transfer law.With aim to curb the destruction of the fraudulent conduct ruining market integrity,protect the creditors as well as create a better trading market.