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论文编号：	8976
作者编号：	2120142911
上传时间：	2016/12/13 15:58:37
中文题目：	我国公司破产重整中债权人利益保护研究
英文题目：	Protection the Interests of the Creditors in the Bankruptcy Reorganization of Companies
指导老师：	郝臣
中文关键字：	上市公司；破产重整；债权人保护；公司财务；公司治理
英文关键字：	Listed Companies; Bankruptcy Reorganization; Protection the Interests of the Creditors; Corporate finance; Corporate governance
中文摘要：	伴随2008年的全球金融危机，越来越多的企业因资金链断裂陷入财务危机甚至破产的境地。在这样的经济危机及国家供给侧改革、去产能的大背景下，必须寻找救济非正常经营企业的途径，破产重整就是其中之一。2006年8月27日通过的《中华人民共和国企业破产法》奠定了我国破产重整制度的法律基础，为债权人利益保护提供了最基础的法律保障。保护债权人的利益是公司法的基本理念，更是公司治理的目的之一。现实中，破产重整中涉及的债权人范围较广，种类多，包括小额债权人、担保债权人和重整期间形成的新债权人等，如果债权人的利益得不到重视与保护，不利于重整程序的进行，甚至会对社会稳定产生不利影响。由于债权人在破产重整中因信息不对称而处于弱势地位，承担的风险较大，应该得到更多的重视和保护。本文分别阐述了退市公司江湖生态和上市公司超日太阳能的重整过程，超日公司比江湖生态获得了更好的重整效果，重整程序获得了债权人的肯定。通过对比分析两家公司在重整程序申请主体、选聘管理人的专业水平、引入投资人的公开程度、重整计划设定的清偿率、重整计划通过方式以及重整过程中信息披露透明度等多方面的差别，总结在破产重整过程中应当关注的对债权人保护的途径和举措。同时，江湖生态与超日公司亦都存在同类债权人权益冲突的情况。通过两家公司案例比较分析，可以看到对债权人利益保护的现状及存在的不足。破产保护旨在保障各债权人能够得到公平的受偿，在保障债权人利益的同时，保障债务人得以通过重整计划，实现继续经营、重获生机的新生机会。保护债权人利益最根本的问题是建立保障债权人重整参与权的治理机制，选聘专业的破产重整管理人引领重整的进程，公开引入在专业领域有重整能力的投资人实现企业重生的发展战略，公开、透明、全面地向债权人更是向出资人披露各环节重整信息，最终争取实现债权人受偿比例最大化，债权人得到平等的受偿机会。
英文摘要：	With the 2008 global financial crisis, more and more enterprises fall into the financial crisis due to funding strand breaks or even bankruptcy. With the background of the economic crisis and the reform of the supply side, it is necessary to find a way to remedy the non normal operation enterprises，For example, bankruptcy reorganization. In August 27, 2006, the People's Republic of China Enterprise Bankruptcy Law has established the legal basis of the bankruptcy reorganization system in China, which provides the most basic legal protection for the interests of creditors. Protecting the interests of creditors is the basic concept of corporate law, and it is one of the purposes of corporate governance. In reality, the creditors in bankruptcy reorganization involving a wide range of species, if the interests of creditors not to pay attention to and protection, is not conducive to the restructuring program, even have a negative impact on social stability. Because of the information asymmetry in the bankruptcy reorganization, the creditors are in a weak position, but take more risks,should get more attention and protection. The paper discuss the bankruptcy reorganization of two companies-Jiang Hu and Chao Ri. Through the comparative analysis of the two companies in the restructuring process, including the application of the main, hiring managers of professional level, the introduction of investors open degree, the reorganization plan, transparency of information disclosure and other aspects of the differences, to summarizes the ways and measures on the protection of creditors should be paid attention to in the process of bankruptcy reorganization. Through the comparative analysis of the two companies, we can see the current situation of the protection of the interests of creditors and the existing problems. Bankruptcy protection is designed to protect the creditors to get fair compensation, at the same time, to protect the debtor through the restructuring planto achieve the new opportunity to continue to operate. The protection of the interests of creditors the most fundamental problem is to guarantee the creditors the right in the reorganization, hiringprofessional managers, introduce new powerful investors, provide transparent and full information. Ultimately realize the creditors get equal repayment opportunity.
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