Substantive Consolidation in Bankruptcy of Affiliated Enterprises: The Dilemmas of Judicial Application and Improvements of the Criteria  

作　　者：Song Yang Niu Lijing 

机构地区：[1]Sichuan Academy of Social Sciences [2]Shanghai Jiao Tong University

出　　处：《Contemporary Social Sciences》2024年第6期132-155,共24页当代社会科学（英文）

摘　　要：No consensus has been reached in the academic community regarding the principles and criteria for the application of substantive consolidation in bankruptcy.However,in judicial practices,the substantive consolidation doctrine has been applied to handle enterprise bankruptcy cases.This paper summarizes the dilemmas in the judicial application of substantive consolidation in bankruptcy through case analyses.The paper also proposes pathways for improving the judicial application criteria for the substantive consolidation in bankruptcy of affiliated enterprises in China,that is,comprehensively assessing the degree of corporate personality confusion from multiple perspectives;considering the cost and difficulty of asset segregation as supplementary elements;weighing the protection of creditors’interests;and taking into account the feasibility and necessity of consolidation and reorganization.

关 键 词：affiliated enterprises substantive consolidation in bankruptcy application criteria 

分 类 号：F271[经济管理—企业管理] D922.291.92[经济管理—国民经济]