On The Protection Of Creditors' Interests In Bankruptcy Reorganization

Current our country bankruptcy reorganization system related legislation in 2007 the enterprise bankruptcy law of the People's Republic of China(hereinafter referred to as the "bankruptcy law"),since the bankruptcy law in our country the reorganization system part of the blank is a filling,for given the opportunity to rebirth in the enterprises,and to a great extent,improve the efficiency of the creditors debts.The reorganization system in the bankruptcy law first considers the interests of the society as a whole,and the interests of the relevant stakeholders are placed in a secondary position.After fully protecting the rights of all parties,it helps the enterprise to become a market entity again.It is not difficult to see that the creditors have not entered the restructuring plan to face the problem of derogation of interests,it is conceivable that the creditors' interests will be violated to a more serious degree when they really enter the implementation of the restructuring plan.In order to better ensure that the debtor can successfully complete bankruptcy reorganization to return to a healthy and orderly development,bankruptcy reorganization to achieve social interests on the basis of taking into account the rights of all parties.Therefore,it is necessary to observe the protection of creditors' interests in the process of enterprise bankruptcy reorganization from the overall process and make targeted attacks one by one so as to protect the legitimate rights and interests of creditors in the process of enterprise reorganization.Taking fushun special steel co.,LTD.,bankruptcy reorganization case,for example,try to explore in bankruptcy reorganization process,the problems still existing in legislation in China,and combining with the judicial practice in our country,put forward the following countermeasures to improve,first of all,the bankruptcy restructuring application stage,the court should be improved on the condition of an application for bankruptcy reorganization,not limited to the statutory formal requirements review,also should be included if the debtor has built on hope,such as reforming effect really important document review,the review process is to consult a third party opinion fully,strict bankruptcy reorganization case entrance.At the same time,the court keeps the trial neutral and dominant in the face of administrative intervention,so as to protect the rights of creditors.Secondly,in the stage of making and passing the reorganization plan,the creditor should be given the right to participate in and assist the decision making of the reorganization plan,and the compulsory approval right of the court should be strictly regulated,so as to guarantee the creditor's right to know from the legislation.Finally,in the process of implementing the reorganization plan,the creditor's right of supervision should be guaranteed.The execution process of the reorganization plan can be supervised by the way of restructuring supervision manager,and the reasonable execution period should be adopted to improve the connection between the execution period of the reorganization plan and the execution process.