Research On Bankruptcy Reorganization Model Of Private Non-Listed Companies

The bankruptcy reorganization model refers to a series of methods used in the bankruptcy reorganization plan to regenerate the enterprise.This paper takes the lack of the legal system of the bankruptcy reorganization mode of private non-listed companies as the original intention of writing,and locks the reorganization mode applicable to private non-listed companies and the protection of the proposed financing mechanism.First of all,for the reorganization of private non-listed companies,most of them need to have the characteristics of the existence value of business operations,focusing on the research-based reform,pre-reform,and debt-to-equity swap models.Secondly,it analyzes the current situation and problems of the bankruptcy reorganization mode of private non-listed companies in China.Thirdly,it summarizes the aspects of selling reorganization,pre-reforming,debt-to-equity swap and financing protection in the extra-regional reorganization mode,and analyzes the parts that China can learn from.Finally,in the construction reorganization mode,the sale reorganization needs further legal provisions in terms of entities and procedures;the prereorganization system should be applicable,the subject of the application,the scope of information disclosure,the role of the court,and the bankruptcy protection issue.Further exploration;debt-to-equity swaps should also be regulated in terms of applicable subjects,scope of information disclosure,scope of claims,operational procedures,exit channels,and termination of execution of reorganization plans.The introduction of investors as an important weight to balance the interests of creditors and the interests of debtors,only through the improvement of the investor protection system,from the perspective of debt,equity,mixed financing,to explain the protection of funds,can truly attract powerful investors to invest To improve the bankruptcy reorganization mode.For debt financing,we can learn from the US multi-level priority repayment rights and hybrid security rights.For equity financing,the interests of investors can be protected by exploring the priority,or they can be agreed from the perspective of contract law through the reorganization of investment agreements.For mixed financing,if the reorganization is successful,the debt-to-equity swap channel should be encouraged to diversify.If the reorganization fails,the original creditor's right will not be restored when the reorganization plan is terminated,but the liquidation priority maintenance can be agreed by contract form.Your own rights.The choice of reorganization mode is a systematic project,which will directly affect the success of the reorganization of private non-listed companies.How to regulate the reorganization mode at the legal level has a long way to go.