引言20世纪80年代以来,在美国发生了大量的公司兼并与收购、公司重组以及公司破产事件。在公司兼并与收购中,不仅某些参与兼并或收购的公司被解散,致使这些被解散公司的债权人的利益受到重大影响,而且参与兼并或收购的存续公司通常都承担了被兼并或被收购公司的大量债务,从而不同程度地增大了存续公司的财务风险,并进而影响到存续公司债权人的利益。在公司重组中,公司的资产与负债结构一般也会发生较大的变化,通常会不可避免地影响到公司债权人的利益。而公司破产则直接导致公司的灭亡,致使破产公司某些债权人的债权无法得到清偿或者无法得到全额清偿。鉴于这些事件对债权人利益所造成的不同程度的 Introduction Since the 1980s, a large number of mergers and acquisitions, corporate restructurings and corporate bankruptcies have taken place in the United States. In mergers and acquisitions of companies, not only some companies participating in mergers or acquisitions are dissolved, the interests of the creditors of these companies being dissolved are greatly affected, and the surviving companies involved in mergers or acquisitions usually assume the rights of the merged or acquired companies Of the large amount of debt, thus increasing the financial risk of the surviving company to varying degrees and thus affecting the interests of the creditor of the surviving corporation. In the corporate restructuring, the company’s assets and liabilities structure will generally have a greater change, usually inevitably affect the interests of corporate creditors. The bankruptcy of the company directly leads to the demise of the company, resulting in the creditors’ rights of certain creditors of the bankruptcy company being unable to be paid or unable to get the full repayment. In view of the varying degrees of obligee’s interest in these events