Study On The Legal System Of The Protection Of Settlor's Creditor Of Trust

Trust is a kind of special property management system and legal behavior,originated in the common law countries.Developed under their legal system,trust has more than 800 years of history.In October 1,2001,"trust law" came into effect,marking the introduction of trust and trust legal system in China.The introduction of trust and trust legal system enriches the diversity of our legal system.Trust developed rapidly in financial sector,while not such well in civil and other commercial areas.To some extent,the principle of independence of trust property could be the main reason.When one established a trust,the trust property shall be separated from the inherent property of the settlor,the trustee and the beneficiary,and shall not be subject to their respective creditors.Thus,creditors may prevent the development of trust in China.This article,from the settlor creditor's point of view,first pointed out that the right of settlor's creditors in our current "trust law" and its problems.And second,the article exploredother countries and areas' provisions concerning the settlor creditor's rights.Third,the article studied our present legal system of the creditor's right of revocation in other department laws.And finally,based on the studies above,this article gave some proposals in protection of settlor's creditor in the trust law of China.The first chapter mainly started with several cases that the settlor's creditor may revoke the trust,then talked about the solutions according to China's present rules of "trust law",and pointed out the problems of such solutions and present rules.The second chapter then mainly studied the relevant laws and regulations of civil law countries and common law countries,including how the settlor's creditor exercises the right of revocation and so on.The third chapter studied the present legal system of the creditor's right of revocation in other department laws in our country.And it is mainly divided into the right of revocation under the civil law and the bankruptcy law,which is related to the right of revocation of settlor's creditor under trust law.The last chapter provided with some measures to protect the rights of settlor's creditor,including the improvements in exercising the right of revocation,and giving alternatives to settlor's creditor.