| 英文摘要 |
The affiliated enterprise shows an unique scenery in the market economy, the members of the group are legally independent, while economically integrated with each other. This special “legal multiplicity and economic unity” phenomenon deserves a special treatment in law. In accordance with the “One entity, one procedure” principle of the Chinese Enterprise Bankruptcy Law, a separate bankruptcy procedure should be started for each bankrupt enterprise in the case of bankruptcy of affiliated enterprises, which would harm the affiliated enterprises as an unity and damage its internal synergy, furthermore, it would cause difficulties in the reorganization of the affiliated enterprises, and lead to unnecessary economic losses. The tension between the law and economic reality requires the development of relevant laws and regulations relating to the bankruptcy of enterprises. There are mainly two modes for the regulation of bankrupt affiliated enterprises: substantive consolidation and procedure coordination, the practices and the literature in the Mainland China pay too much attention to the former, while ignoring the latter, which should be applied in most bankruptcy cases of the affiliated enterprises. Coincidentally, the German legislators have submitted the draft legislation on the bankruptcy of the affiliated enterprises, which explicitly rejected substantive consolidation, but requires the introduction of the procedure coordination mechanism into German law. This paper reflects the latest development of German regulations on the bankruptcy of affiliated enterprises, in order to provide some comparisons for the construction and legislative improvement of the bankruptcy procedure of affiliated enterprises in mainland China. |
