Fraudulent Transfer And The Protection For Creditors

Limited liability and the independent status of corporate legal personality are regarded as the cornerstones of modern corporate law,which greatly promotes investment and economy,but at the same time provides some debtors with opportunities to transfer their property and evade debt.Fraudulent transfers refer to acts carried out by the debtor in order to evade debt,by transferring its own property outwards or establishing a right burden on their property,so as to hinder or delay the creditors from realizing their claims.This concept is derived from Anglo-American law,but it can also be applied to Chinese law.In addition to creditors' right of revocation and bankruptcy revocation,there are various rules in our legal system including malicious collusion,joint infringement,corporate legal personality denial,and withdrawal of capital contribution rules,which can play a role in regulating fraudulent transfers.However,there still are a series of contradictions and problems,which has caused confusion in the application of law in practice.Based on the analysis of these contradictions and problems,this article proposes a possible approach to our own fraudulent transfer rules.Clarify the value and purpose of different rules,give priority to the creditor's right of revocation,and provide a purposeful interpretation,cooperate with the company's legal personality denial rule and bankruptcy revocation right rule,and give reasonable protection to the damaged creditor.