The difficulty of financing in the capital market for small,medium and micro enterprises and the highly intermingled characteristics of the credit,assets,debts and personality of the enterprise and its contributors have determined that the retention of contributors plays a decisive role in improving the success rate of corporate bankruptcy reorganization.At present,there is no legislation in China that stipulates the principle of retaining the rights and interests of contributors for the bankruptcy reorganization of small,medium and micro enterprises.The absolute priority principle has become an obstacle to the retention of the rights and interests of contributors in restructuring practice.Given that the retention of the rights and interests of contributors is a necessary condition for the retention of contributors,China's legislation should introduce a new value exception rule to reduce the adverse impact of the absolute priority principle on the bankruptcy reorganization of small,medium and micro enterprises.At the same time,it should introduce a supporting mechanism for applying the principle of retaining the rights and interests of contributors and a standard for determining the protection of creditors'interests,in order to balance the retention of contributors'rights and interests and the protection of creditors'interests,so that both can complement each other and ultimately improve the success rate of bankruptcy reorganization for small,medium and micro enterprises.
关键词
出资人权益保留/中小微企业/破产重整
Key words
retention of the rights and interests of the contributor/small and medium-sized enterprises/bankruptcy reorganization
维普
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