| dc.description.abstract | Both the bankruptcy procedure and the company reorganization procedure allow the debtor to start again, and both procedures have more advantages than disadvantages. For creditors, the bankruptcy procedure provides a fair chance of repayment, and the reorganization procedure also allows creditors to obtain more repayment than bankruptcy procedure. Therefore bankruptcy and reorganization procedures are debt liquidation procedures that have more advantages than disadvantages. One of the main cores of this article is to compare and analyze the differences between Taiwan’s corporate reorganization rules and the US Federal Bankruptcy Code’s reorganization legal system. We find that there are still many areas that can be improved in our country in terms of the reorganization legal system. The draft of the debt liquidation law provides a lot of good intentions and valuable legal provisions and opinions on the deficiencies of the current reorganization legal system, which is why this article expects the draft debt liquidation law to be passed through the third reading as soon as possible.
Next, another core of this article is the exercise of the bank′s right of set-off, trying to analyze whether the bank′s exercise of the right of set-off is different in the general situation and the reorganization process. In the case of the company′s reorganization system that protects debtors extremely, creditors’ protection of their claims should not be neglected. When companies need to reorganize, they usually need large sums of funds. Banks are usually the largest creditors of reorganized companies. However, banks often use the method of offsetting deposits as a method of debt recovery to ensure their borrowing rights. The result of the bank′s exercise of the offsetting right directly infringes the claims of other creditors of the same status, resulting in a reduction in the scope of the reorganization consortium, which is not conducive to other reorganizations creditors and the entire reorganization procedure and it challenges the status of our country’s security real rights. Therefore, there should be appropriate restrictions on the right of set-off in the reorganization procedure, especially in emergency sanctions that the cultural prohibition of the right of set-off should be made clear. | en_US |