利益平衡视野下重整融资债权保障规则的本土化建构

中图分类号：D922.291.91 文献标识码：A 文章编号：2095-6916（2025）15-0052-04

The Localization Construction of Reorganization Financing Claims Protection Rules from the Perspective of Interest Balance

Zou Yusen [ZHH（Guiyang） Law Firm，Guiyang 550002]

Abstract：TheUnitedStateshasadoptedaprogressveprioritymethodbasedonthediffcultyofreorganizationfinancingTrougha refinedrulesste，itfectielyalancsteiterestsongteisofrorgazatiofaningndoerprorityeditodcu rityrightoldmaalldaptigtoespialsdumsacsofteartsidindtorgaatioJpa uniformlyrecognizesfinancingclaimsascommon-benefitclaims，withtherankingbetweensecuredclaimsandunsecuredclaims.China’s regulationsaretoosimpliticnddonotstpulatethprorityelatioshipetweensuredorgazationfiancingclaimsadeistigs curedclais.Iissugestedthatthebankruptcylawberevisedtoclarfythefolowing：first，unsecuredreorganzationfinancinglais shouldbeclasifiedas“common-bnefitclaims”，ndtheirankingshouldbeconsistent withothercommon-benefitclaims.Loansprovidedtothedebtorforotiuingperasfterteoanzatioalatiisledutfoeteoutcctsteeoranzatioseare necesaryfortheenterprisetocontiueoperatingndcanonlybetreatedascommon-benefitclaisifratifiedbytheceditors’mtingafterwardSecond，thebasicprincipleofrespectingonbakruptclawssouldemaintaied，andteprovisionsofteCilCdeadingthesecuitysystemshouldbeuniformlyaplied.Thepriorityofsecurityrightsonreorganizationfinancinglaimsshouldfolowthepro visionsf theCilCode，andthetypesofsecuritythatcanbeestablishedforreorganizationfinancingclaimsshouldbeexpandedThird， itshouldbeclarifedtatroganationfiancinglaisasommonbenefitlaiseainteiratureandrepaentprorityeifere organization fails and the case proceeds to liquidation.

Keywords：reorganization financing； financing guarantee；common-benefit claims；interest balance

破产重整程序启动后，重整企业如何继续经营至关重要。（剩余5650字）