On The Protection Of Creditor's Interests In Movable Property Floating Charge

The modern sense of the floating charge system was originally created by the British Equity Law.As a guarantee system,in addition to equip with the general function of guarantee.but also is a unique guarantee means with financing advantages,which set the efficiency of value and security value in one.Because of its facilities and efficient implementation.it was accepted by Japan.Floating object of the subject is in a state of uncertainty before its solidification(also known as crystallization or determination),as the creditor has the right to discretion,compared to other forms of guarantee.and it is more risky to the creditor.Therefore,the floating charge system,whether in the United Kingdom or the successor countries,has a matching creditor protection rules.and the latter was the transplant reference,or creation on the basis of reference.In contrast.China's Property Law only makes a simple introduction about the form of the floating charge system,and does not simultaneously make introduction or construction of the corresponding system and measures to protect the interests of creditors.Due to the provisions of the legislation is simple,compared to foreign countries,the creditors' risk in the movable property floating increases.Such as the creditor lacking of effective supervision to the mortgagor right of free disposition,solidification lacking of practicality,the lack of flexibility in the realization of the floating charge after solidification,the narrow scope of the subject matter,etc.,so that the interests of creditors can not be guaranteed,and thus they exclude even refused to the system,which led to the system in our country is suspected perform practically no function.The protection of the interests of creditors is imperative.Based on the analysis of the essential attributes of the floating charge system and the reference to the legislation of foreign countries,this paper discusses how to protect the interests of creditors from the legislative and practical operation.It is hoped that it will be helpful to the improvement of the movable property floating charge system and the effective development of its financing advantages.