Study On Creditors' Meeting System In Bankruptcy Proceeding

Free competition is a basic principle of market economy,there will be advantages and disadvantages of competition,success or failure,and then promote the development of the whole society,bankruptcy proceedings is to help the whole market economy to operate well.On June 1,2007,China began to implement the new "enterprise bankruptcy law of the People's Republic of China"(hereinafter referred to as "enterprise bankruptcy law"),abolished the 1986 bankruptcy law,thus establishing a new bankruptcy legal system of market-oriented system.Once the enterprise goes bankrupt,the creditors who have no relationship with each other get together because of the requirements of the enterprise bankruptcy law and set up an autonomous institution to safeguard and protect the interests of all creditors,which is the creditors' meeting.The creditors' meeting has become one of the important institutions in the bankruptcy proceedings because of its role in the scientific and reasonable construction and guarantee of the operation of the bankruptcy proceedings.Although the enterprise bankruptcy law of 2007 has many new regulations on creditor's meeting,it is of positive significance to improve the creditor's meeting system in China.However,in the process of judicial practice,we gradually found that the system still has many shortcomings.Firstly,two bankruptcy cases are cited to introduce the problems of creditors' meeting system in bankruptcy proceedings.Secondly,it briefly introduces the concept and nature of creditors' meeting,and analyzes the relationship between creditors' meeting and debtor,bankruptcy administrator and people's court.Then it analyzes the problems existing in the creditor's meeting system in China,including the difficulty of holding the creditor's meeting in the bankruptcy procedure,the defects of the creditor's meeting in the supervision of the bankruptcy administrator,the imperfect resolution of the creditor's meeting and the relief mechanism of objection.This paper explores the causes of these problems,such as the large number of participants in the creditors' meeting and the cumbersome procedures,the weakening of the rights of the creditors' meeting and creditors' committee,and the expansion of the powers of other subjects in the bankruptcy proceedings.Finally,based on the existing excellent cases in judicial practice in China and the advanced legislative experience in foreigncountries,the author puts forward some Suggestions on improving the creditor's meeting system in China,including improving the convening method of the creditor's meeting,the creditor's committee system,the resolution and objection relief procedure of the creditor's meeting.