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Academic Journal of Business & Management, 2022, 4(15); doi: 10.25236/AJBM.2022.041501.

Research on the Protection of Creditors' Interests under the Reform of Corporate Capital System

Author(s)

Lingling Dai

Corresponding Author:
Lingling Dai
Affiliation(s)

School of Law, Anhui University of Finance and Economics, Bengbu, Anhui, 233000, China

Abstract

In 2003, China's "company law" carried out a major change in the company capital system, which greatly reduced the market access threshold of enterprises and radiated market vitality, but also brought challenges and impacts to the protection of creditors' interests. Under the background of capital system reform, the relevant supporting measures to protect the interests of creditors in China are not perfect. There are deficiencies and defects in the company information disclosure system, shareholder's contribution obligation and disregard of legal personality system in practice, which need to be further solved. Based on this, we should ensure that the creditors fully enjoy the right to know, improve the credit constraint mechanism, and at the same time, add the pre procedure of directors, supervisors and senior executives to call for the payment of capital, expand the scope of application of accelerating the maturity of capital contribution, and clearly determine that "the capital is significantly insufficient", and appropriately reduce the burden of proof of creditors, so as to establish a comprehensive protection system for the interests of creditors.

Keywords

Capital System Reform; Protection of Creditors' Interests; Information Disclosure; Capital Contribution Obligation; Personality Denial

Cite This Paper

Lingling Dai. Research on the Protection of Creditors' Interests under the Reform of Corporate Capital System. Academic Journal of Business & Management (2022) Vol. 4, Issue 15: 1-9. https://doi.org/10.25236/AJBM.2022.041501.

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