Legal Protection Of Security Interests In Bankruptcy Reorganization Procedure

The reorganization system is one of the three major bankruptcy prevention systems stipulated by China's bankruptcy law.It has a prominent role in saving debtors,and its legislative concept is pluralistic,including debtors,creditors and social interests.In general,the personal standard gives way to the social standard.The security interest system pays attention to protecting the rights and interests of the security right holders.The credit protection function is the pursuit of its core value,which is contrary to the value objective of the restructuring system.Therefore,the relationship between the debtor and the security right holder must be properly handled in the reorganization process to achieve a balance of interests between the two.In order to achieve corporate restructuring,preserve the material basis of the company's continued operations,and properly handle the relationship between the parties,the bankruptcy law limits the priority of the security interest holders in the reorganization process.China's "Enterprise Bankruptcy Law" has more restrictions on security rights than protection.In the design of rules such as the suspension of the security interest,the mandatory approval system and the implementation of the reorganization plan,the protection and relief of the security right holder is insufficient,and the security right holder is unable to effectively understand and participate in the restructuring,fully exercise their rights and guarantee Your own legal rights.Therefore,in order to achieve full protection of the security right holder and balance the interests of the debtor and the security right holder,we can learn from the practices of the United States,Germany and other countries,improve the legal rules,grasp the scale of restrictions,and give the security right holders an effective way to participate in the restructuring.Improve the relief standards and measures.The first part is mainly the definition of concept.Clarify the concept and its particularity of the security interest in bankruptcy reorganization discussed in this paper,and analyze its peculiar nature.The second part discusses the theoretical basis of the topic.Firstly,it analyzes the legislative value of the security interest system and the bankruptcy reorganization system,and clarifies the legislative value of the security interest system to protect the creditor's rights and conditional recognition of the financing function.The legislative value of the reforming system is to save the enterprise and debt settlement.Then it discusses the different legislative values of the two systems and the conflicts and the influence on the two systems,and thenanalyzes the possibility of conflict reconciliation.The peaceful coexistence between the security right holder and the debtor can be achieved through the balance of interests.The third part analyzes the problems existing in the bankruptcy reorganization system in China.Mainly from the suspension of the security interest,the court compulsory approval of the provisions on the security interest in the reorganization plan and the supervision of the implementation of the reorganization plan,analysis of the protection of the security right holder,the relief measures are not perfect,the information disclosure There are problems with the system.The fourth part mainly discusses how to improve the protection rules of the security interest in the reorganization procedure.Drawing on the practices of the United States,Germany,Japan and other countries,combined with China's practice,we will improve the suspension of the security interest,protect the value of the secured property in the compulsory approval process,give the security right the right to relief,and improve the information disclosure system.