ABSTRACT

With the prosperity of the socialist market economy in our country and the rapid development of capital market, some companies due to internal poor management or the effects of adverse environmental conditions, difficult to repay debt on schedule. The debtor bankrupt, legal process is complex, not only can destroy the debtor effective utilization of resources, also may be subject to the extent of the obligee's right to a bigger loss. Effective resources, in order to fully integrate the debtor and maximize the recovery of creditor's rights in order to make the creditors, and there was another solution to the creditor's rights debt disputes, namely, debt restructuring.

Debt restructuring guidelines issued, standardizes the principles and methods of debt restructuring accounting in our country, improve the reliability and authenticity of accounting information. But because China's capital market development is not perfect, the imperfection of the appraisal institution, the fair value of the lack of impartiality, making some companies restructure its debt at the end of the year in succession, and the correlation of the debtor's generous exemption or to balance their own undervalued assets would be huge, will be expensive debt restructuring gains recorded into the profits and achieve listing, distribution rights and warranty card, etc.

This paper uses literature research and comparative research to our country enterprise debt restructuring, points out the deficiencies and problems in the process of enterprise restructuring in our country. Using empirical approach, the introduction of ST hualong case, analyzes the factors influencing the enterprise restructuring and conditions, and puts forward some Suggestions and measures to solve, to improve the debt restructuring guidelines and guide the restructuring practice has practical significance

Keywords：

Debt restructuring guidelines; Fair value; Corporate restructuring gains; Influencing factors; Improvement measures