Research On Creditor Protection System From Capital Credit To Asset Credit

The company capital system is one of the core systems of the company law.In recent years,the focus of the company law reform is always around the company capital formation system.In 2013,China carried out a major reform of the capital system in the company law,which abolished the minimum amount of registered capital and the restriction on the amount of paid-in capital and the payment period,in addition,the restrictions on the proportion of monetary contributions to companies and the requirement that capital verification certificates be submitted for company registration have also been removed.The reform measures of the company law show that the credit basis of the company law in our country has gradually changed from capital credit to asset credit,which is embodied in the evolution process of the capital formation system in our country,from the initial Authorized capital system to the legal authorized capital system and the present subscription capital system,this kind of change is the system change which adapts to the present situation and the tendency of our country’s economic development.In 1993,when the company law was enacted,we adopted,the Authorized capital system,but with the rapid development of our country’s economy,our company law is constantly making corresponding adjustments to meet the corresponding needs of social and economic development,removing or lowering the threshold set by the Authorized capital became an important institutional change aimed at providing more civil subjects with the opportunity to participate in economic activities.In the course of the reform of the company law,on the one hand,the legislator has strengthened the vitality of the market,increased the number of commercial subjects and thus enhanced the activity of economic activities through the reform of relevant systems,on the other hand,in the process of corporate law changing from capital credit to asset credit,it is necessary to perfect the relevant supporting system to balance and protect the legal rights and interests of the relevant subjects.In the era of capital credit,the Authorized capital system means the paid-in system of registered capital,and the commercial subjects pay great attention to the registered capital,which was once regarded as the guarantee of the company’s ability to fulfill its obligations and bear the debts,the creditors of the company naturally believe that the registered capital is the fundamental guarantee for the realization of their creditor’s rights.However,under the present capital subscription system,the amount of registered capital can not show the credit basis of the company completely,and it is not enough for the creditors of the company to only focus on the effectiveness of the registered capital.Before the advent of the asset credit era,China has been in the era of capital credit,that is,the amount of registered capital determines the size of the company’s credit,but with the continuous practice of China’s capital system and in-depth study of asset credit theory,we should strive to improve the corresponding legal system in the new era of asset credit.This article mainly uses the analysis,the induction,the contrast and so on research method,the article mainly explained the company in the capital credit to the asset credit gradual evolution process,under the asset credit background company Creditor Protection System Insufficiency and the flaw,then put forward the measures of perfecting the creditor’s Protection System under the asset credit to maintain the stable development of the economic market.In addition to the summary and conclusion,the full text is divided into four parts:the first part elaborates the summary and the manifestation of the company’s capital credit,the summary and the manifestation of the company’s asset credit,analyzes the insufficiency of the capital credit and the superiority of the asset credit,etc.,the second part is the analysis of the transformation from capital credit to asset credit in the reform of the company law of our country,pointing out the deficiency of capital credit and asset credit in protecting corporate creditors,summing up the predicament of the existing corporate creditor protection system in our country,the third part,analyzing the corporate creditor protection system of the representative countries outside China,this paper analyzes the different economic and legal backgrounds of the two legal systems,starting with the capital systems of the United Kingdom,the United States,Germany and Japan,and then studies the corporate creditor protection systems of these four countries,the fourth part is mainly about the improvement of the protection system of our country’s corporate creditors’ interests under the framework of the current corporate law,based on the trend of the development of the company law and the historical experience of foreign countries,the protection system of the company creditor’s interests in our country should be adapted to the trend of the development of the company law.