The Protection Of Creditor's Interests Under The Subscription Capital System

The protection of the interests of creditors is the eternal topic of corporate law in the market.With the development of the market and the progress of the times,most countries protect the interests of creditors as one of the legislative purposes of the company law.The corporate capital system plays an important role in protecting the interests of creditors and mitigating the conflicts of interest between shareholders and creditors.Chinese Company Law version 2013 has been substantially modified,abolished the original minimum registered capital system,the real payment system to complete payment system,simplify the company set up registration and other matters.This series of reform measures in the academic community caused a huge sensation,many scholars hold different views.However,it is recognized that this reform is significantlybeneficial for the shareholders of the company.But creditor protection has been a weak part of the corporate law system,and creditors need to take on more market risk after the reform.While the reform did not form a relatively perfect mechanism for the protection of creditors,the capital system changed so much,which caused a huge impact to the creditor protection system of the original company law.The original creditor protection mechanism should also make corresponding changes to deal with the new problems in the market.This paper is divided into three parts,the overall structure showsas follow:The first part analyzes the relationship between the change of the credit base of the company and the protection of the creditor and analyzes the type of the current capital system in our country.It draws the conclusion that new Company Law put asset as the credit base,and the subscription system still belongs to the legal capital system.The second part analyzes the influence of subscription capital system on the protection of creditor's rights,emphasizes that the protection of creditors' interests is more tough,and points out the increasing market risk of creditors andthe innovation of the creditorprotection mechanism.The third part discusses the shortcomings of creditor protection from the establishment of the company to the dissolution of the company,and draws lessons from the theoretical achievements of scholars at home and abroad,and gives the suggestions of systematically.This part is divided into three pieces,the first is the protection of company creditor interests during the establishment of the company.because of the expansion of the shareholders,the interests of creditors are squeezed.The second is the protection of creditors during the operation process of the company,because the shareholders have absolute control over the advantages of the company,it is likely to over-manipulate the company to seize the interests and damage the legitimate rights and interests of creditors,it is necessary to protect the creditors,The disclosure of information obligations is assigned to shareholders,to strengthen the company's credit constraint mechanism,to give creditors the right to intervene in the corporate governance mechanism to balance the conflicts of interest.Finally,the company's dissolution stage of the creditor protection,we should strengthen the law enforcement agencies The supervision of the enterprise's breach is necessary,if necessary,companies could be forced to withdraw from the market,and the introduction of the rules of Deep Rock will benefit the protection of the creditors.