On April 9, 2025, the Shanghai Bankruptcy Court released the "Shanghai Bankruptcy Court 2024 Annual Case Statistics".

In the practice of investment and financing of start-up enterprises, the majority of investors do not aim to accompany the company from its establishment to its dissolution, nor do they hope to obtain dividends through long-term equity holding.

During the National Two Sessions in March 2024, Judge Gao Xiaoli, the former head of the Civil Division II of the Supreme People's Court and currently the vice president of the Supreme People's Court, mentioned in an interview with the media that the Supreme People's Court will formulate judicial rules for disputes over asset-backed securities (ABS) to regulate some practical problems faced in judicial practice.

The first part analyzes the common problems of security issuance defense, especially the key rules and types of evidence

This paper analyzes the characteristics of these draft reorganization plans from the legal point of view and probes into their market significance.