Research On Secured Creditor's Right System In Bankruptcy Reorganization

In general,bankruptcy liquidation will bring a lot of unemployment,the waste of social resources,national tax reduction and other problem.These problems not only impose a task upon society,but also intensify the social instability.Consequently,for the state's public benefits,most countries stipulate the bankruptcy reorganization system.Reorganization is such a system that can save the debtor that in insolvency and make it to be fresh start.In bankruptcy reorganization,in order to create a good restructured environment for the debtor,some rights and interests of secured creditors need to be limited.But the core of creditor's rights guarantee system is to guarantee the civil creditor's right.By exercising the priority of compensation,we can ensure that the creditor's rights can be paid in time and reduce the risk of lending money.It is necessary for us to discuss the existing laws on how to coordinate the two conflicted systems.Based on the existing enterprise bankruptcy law in china,this paper analyzes the legal problems existing in the system of secured creditor's rights in the bankruptcy reorganization of enterprises in China with the relevant theories and judicial practice of the articles of association of the bankruptcy reorganization;and analyzes and take example by the theory of system of secured creditor's rights in the bankruptcy reorganization of enterprises in other countries,some suggestions are put forward to improve the system of secured creditor's rights in the bankruptcy reorganization of Chinese enterprises.This paper is divided into four parts:The first part mainly introduces the general theory of secured creditor's rights system in enterprise bankruptcy reorganization.Firstly,the concept and characteristics of secured creditor's rights in bankruptcy reorganization are clarified.Secondly,the paper introduces the function of secured creditor's right system and the principle of secured creditor's right system in bankruptcy reorganization.The second part mainly introduces the legislation of secured creditor's rights system in the bankruptcy reorganization of the United States,Germany and Japan.And by comparing the difference between the foreign legislation and our legislation,we will find the good legislation experience for our country.The third part analyzes the legislation present situation and existing problems of the secured creditor's rights system in the bankruptcy reorganization of Chinese enterprises.The problems existing in the secured creditor's rights system in the bankruptcy reorganization of enterprises in China are mainly that all secured creditor'srights are suspended in the enterprise restructuring process.The second problem is the effective time point of suspension of security right lag.The third problem is that specific provision is not made for the disposal of the realisation of the secured property.The fourth problem is that secured creditors can not participate in the drafting of the restructuring plan.The fifth question is that forced approval system lacks operability in protecting secured creditors.The sixth question is the lack of participation of secured creditors in the implementation phase of the restructuring plan and so on.The fourth part mainly drawing lessons from the United States,Germany,Japan and other countries' legislative experience,tries to put forward corresponding suggestions for improvement in terms of the problems existing in the system of guaranteed creditor's rights in reforming in our country.The part includes perfecting the suspension system of secured creditor's rights in the reorganization process,stipulating multiple drafting subjects of the reorganization plan,refining the rules of protection of secured creditor by the compulsory approval system in China and enhancing the participation of secured creditor in the implementation of the reorganization plan and so on.