Abstract:In view of their own interests, the secured creditors may not accept the debtor but goes into the procedure of reorganization. In order to achieve the goal of reorganization, China's legislation should be perfected quickly to limit the scope of exercising of security right. At the same time, relief clauses are necessary to avoid unfair losses of secured creditors. If the reorganization fails to pass, the debt from normal operation should be taken as common benefits debt and get the priority of payment, which is used to achieve the goal of making sure the reorganization and maximizing the social benefits that can be carried out smoothly.