| In the Chinese Civil Code, the system of creditor’s substitutionary rights presents a blend of two distinct images, i.e., the “recovery-oriented substitutionary right” and the “preservation-oriented substitutionary right”. The recovery-oriented substitutionary right serves as a simple means of compulsory debt recovery, justified by the urgency of creditor’s rights realization. This category of substitutionary right is only applicable to the substitution of money claims based on monetary debts, or the substitution of delivery claims based on identical delivery requests. The establishment of the recovery-oriented substitutionary right enables the creditor to obtain the authority to collect the target debt. After the secondary debtor fulfills the obligation to the creditor, the creditor’s right is extinguished due to the secondary debtor’s repayment, and the ownership of the subject matter is transferred because of the completion of the instructed delivery. The traditional preservation-oriented substitutionary right aims to guarantee the debtor’s assets. However, with an appropriate interpretation of the rules of compulsory enforcement, it is no longer necessary. Instead, it should be utilized for the preservation of specific debts, and for the preservation acts to compensate for the deficiencies of the civil preservation system. The exercise of the preservation-oriented substitutionary right enables the creditor to establish management authority over the target rights, and the benefits of substitutionary realization belong to the debtor himself/herself. |
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