On The Shareholder's Equity In Bankruptcy Reorganization

In recent years,the bankruptcy reorganization system has become an effective way for many enterprises in China to emerge from their predicament,and has added new vitality to China's market economy.Since the reorganization process involves the interests of multiple parties,one of the tasks of the reorganization system is to coordinate the interests of the various parties.Debtor shareholders,as one of the stakeholders in the process,play an important role in the reorganization.They are a positive force for corporate restructuring and directly affect the effectiveness of reorganization.Therefore,the status of the debtor's shareholders in the reorganization process,the recognition of the rights and the protection and restrictions of the equity are particularly important.However,China's reorganization legislation has few provisions on debtor's stockholder's equity,and it is too principled and simple to create a phenomenon that cannot be relied upon in the process of reorganization the practice.For this issue,there is no mature research in the theoretical circle.The practices of the practice community are not the same.As a result,many practical problems cannot be solved effectively.This article takes shareholder rights as the entry point,based on the current legislation in China,combining with China's reorganization practice,referring to foreign legislation and experience,and from the perspective of protecting and restricting the equity of the debtor's shareholders,it proposes to improve the regulation of shareholders' equity in China's restructuring.The proposal,with a view to the theoretical study of the bankruptcy and reorganization system and to solve the specific problems in the reorganization of the practice will be of benefit.In order to strengthen the participation of the debtor's shareholders in the reorganization process,and to protect the shareholders' rights,they should improve their right to reorganize applications,the right to formulate reorganization plans and to vote,the right to know in the process,and the right to supervise in the legislation.Exercising conditions and rules.In addition,the purpose of appropriately limiting shareholders' equity is to achieve the goal of increasing the equity reduction of controlling shareholders,clarifying the criteria for compulsory approval of reorganization plans,and adding hearing procedures during the reorganization process.