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1、Applicationof“DeepRock”DoctrineandItsReferenceAbstract:Withthedeepeningoftheeconomicglobalization,corporationplaysamoreandmoreimportantroleintheworld.Corporationasagreatinventionownsanindependentpersonality,whichbringsusboomingeconomy.Butonceabusedintentionally,itwilldegeneratei
2、ntoaninstrumenttodefraudthecreditorsorthepublic.Inordertodecreaseitsnegativeeffectsandsustaintheboomingmarket,“DeepRock”doctrineaswellastheDisregardingoftheCorporateEntity,isfirstlyusedintheAnglo-Americanlegalfamiliestoregulatethecorporation,althoughChinaacceptedtheinstitutionof
3、disregardingofthecorporateentityinthenewCompanyLawofthePeople'sRepublicofChina,“DeepRock”doctrineisstillneitherembracedinitorinthenewlyenactedLawofthePeople’sRepublicofChinaonEnterpriseBankruptcy.Thisarticleespeciallypressesonthecomparisonbetweenthetowforesaiddoctrinesandaimstog
4、ivethepracticalmethodtoapplyitinChina.Keywords:“DeepRock”doctrine;DisregardingoftheCorporateEntity1Introductionof“DeepRock”doctrineCorporationistheproductofthematureeconomy.Onceborn,thisgreatinventionshowsitsamazingpowerinthedevelopmentofmarketandsoonbecomestheengineoftheeconomy
5、.Allitsadvantagescanbeattributedtoitstwofootstones—independentpersonalityandlimitedliability,however,everycoinhastwosides;everybusinesscompanyisorganizedandcarriedonprimarilyfortheprofitsoftheshareholderswhichconflictsthepublicinterest,anditsmeritsalsocanbepervertedasaninstrumen
6、tforapprovingtheevilswhichimpairtheinterestsofthecreditorsandthepublic.Inthedevelopedcountries,especiallyintheU.S.A.,thedilemmaproveditselfmoreandmoreobviously.Therefore,theDisregardingoftheCorporateEntitywasconfirmedbyaseriesofjudgment,subsequentlysomeimportantprinciplesanddoct
7、rinesdeveloped,deeprockdoctrineisoneofthem.“DeepRock”doctrineisaruleofbankruptcylawintheUnitedStates,whichisdevelopedbytheU.S.SupremeCourtinthecaseofTaylorv.StandardGasCo.,306U.S.307(1939).Therulerequiresthat,whereasubsidiarycorporationdeclaresbankruptcyandaninsiderorcontrolling
8、shareholderofthatsubsidiarycorporationassertscl