摘    要：随着市场经济的飞速发展，关联企业的数量逐渐变多并且其内部的组织形式也日益复杂化，在利益博弈心理的驱使下，越来越多的关联企业开始转变原先的分别破产清算的模式，开始转向破产重整模式。但是由于关联企业特殊的法律性质与组织模式，使得关联企业破产重整时衍生出了一系列的法律问题，如破产财政审查时人格高度混同、破产欺诈等。然而，我国并未有明确的立法针对关联企业破产重整下产生的一系列法律问题进行规制。就我国《破产法》而言，其主要的适用对象是独立的企业法人，并未将关联企业包含在内，且《公司法》也未对关联企业做出具体的规定，因此在关联企业破产重整问题上存在立法空缺的尴尬局面。并且目前实务中对于关联企业破产的处理规则也仅仅局限于关联企业主体资格“高度混同”的问题进行单一的处理，早已无法适应现下多样的关联企业破产形式，因此急需建立一套关联企业破产重整的法律规制制度。在这样的背景下，本文立足于目前关联企业破产重整的发展现状，试图将理论与实务相结合，通过剖析关联企业的范围以及针对破产重整在关联企业适用下衍生的问题，针对性的提出将实质合并规则于破产重整制度相结合，试图探索出新形势下关联企业破产重整下的法律规制制度。

Abstract：At present, the main target of the bankruptcy law of our country is the independent enterprise legal person, and there is a vacancy problem in the bankruptcy law for the enterprise group such as the affiliated enterprise. Therefore, the bankruptcy of related enterprises has always been a hot issue in the theoretical and practical circles, and in the current practice, the rules for dealing with the bankruptcy of related enterprises in our country are only limited to the "highly mixed" problem of the subject qualification of the related enterprises, and there are no other applicable standards. However, with the rapid development of the market economy, the internal organizational forms and relations of related enterprises have become more and more complex. With the drive of interest game psychology, more and more related enterprises have begun to change the original bankruptcy liquidation mode and turn to bankruptcy reorganization mode, and the form of bankruptcy reorganization of related enterprises is also more in the same period. It needs to be discussed whether the various rules of substantive consolidation apply to the bankruptcy reorganization of the affiliated enterprises and how to better apply the pattern of bankruptcy reorganization under the new situation. The problem of the bankruptcy reorganization of affiliated enterprises is at present in the situation of lack of law, different academic, single practical operation and difficult to unify many parties. This paper tries to combine practice and theory with the scope of related enterprises and the principle of substantial merger in bankruptcy liquidation, and combine substantive consolidation with bankruptcy reorganization. To explore the particularity of the merger and reorganization of affiliated enterprises in the new form and to derive a series of legal regulation problems.

关键词：关联企业； 实质合并规则； 破产清算； 破产重整； 合并重整

Keywords：Related enterprises; substantive merger rules; bankruptcy liquidation; bankruptcy reorganization; merger and reorganization

目    录

引言 4

一、关联企业的认定 4

（一）法律规定 4

（二）学者认定 5

二、关联企业破产重整下产生的特殊法律问题 6

三、实质合并规则及其在关联企业破产重整中适用的必要性 6

（一）实质合并规则的内容 6

（二）实质合并规则在关联企业破产重整中适用的必要性 7

四、实质合并规则在关联企业破产重整中的适用 8