On The Legal Application Of Preference Transfer In Civil Law

The right of rescission of a credit is designed to protect the general interests of ordinary creditors.Substantially,Preferential Transfer that undermines the equal compensation relationship of ordinary creditors is harmful to the general interests of the general creditor.As a "secret fraudulent behaviour",Preferential Transfer should be the object of revocation of the creditor's right of rescission.There is a critical period system on the bankruptcy law to limit scope of exercise of creditors's right to revoke preferential transfer.Proportion of subjective elements can be augmented in civil law so as to achieve the same level of the protection as the bankruptcy law.In determining the scope of application regarding the individual guarantees,pre-liquidation and maturity settlement,different institutional arrangements could be enacted according to the different degrees of blameability in principle.it is advisable to regulate the relationship between the right of revocation of preference and the invalidity of "malicious collusion" by exercissing the creditor's right of revocation.there is a phenomenon of overlap of article of law in the provisions concerning the right of revocation of creditors and the right of revocation of bankruptcy.Therefore,when acts performed by legal person which ruined the equality of compensation relationship of ordinary creditors conform with the components of The right of revocation of creditors and the right of revocation of bankruptcy,the provisions concerning the right of revocation of bankruptcy should be applied first.at this time,it is unnecessary to invoke the provisions about The right of revocation of creditors.