The Protection Of Creditors' Interests In Bankruptcy Reorganization

The bankruptcy reorganization institution was originated in England and then rapidly developed in America.Through learning from the experience of foreign legislation,the bankruptcy reorganization institution was adopted into the newly amended Chinese corporate bankruptcy law on 2006.The main purpose of the bankruptcy reorganization is aim to protect the enterprise which has going-concern value from losing corporate personality.Though the barkruptcy reorganization protects the whole society interests at the expense of some creditors' interests,we should make sure that the bankruptcy reorganization institution doesn't violate the creditors' interests too much.Only protecting creditors' interests properly,can the bankruptcy reorganization guarantee the feasibility and validity of reorganization plan,control the running cost,guarantee the process of bankruptcy reorganization goes on wheels and balance every party's interests.The bankruptcy reorganization legislation of our country protects the creditors' interests through the way of granting legal rights and exerting legal obligations,but in practice,there still exist problems such as insufficient protection of the right to know,to participate,to supervise and so on.Thus,on the process of the bankruptcy reorganization,in order to make sure that the bankruptcy reorganization plays an active role,we should pay attention to protect the creditors' interests,to perfect relative regulations,the most important is that we should balanee the relationship of counterpart's interests based on the whole society interests,prevent creditors' interests been excessively violated.