"Conflict of Interest between the Creditors' Committee and the Minor Trader: A Comparative Analytical Study According to Bankruptcy Laws."

Abstract

The practice of commercial business is not limited to those with full legal capacity; it extends to include other categories, such as minors authorized by a court or those who inherit a commercial project or company, thereby placing them in the position of a de facto merchant. Given that commercial activities are subject to profit and loss, this could result in a minor ceasing to pay their debts, placing them in a state of bankruptcy. Conversely, this situation legally establishes a group of creditors against the minor, leading to a conflict between the financial rights of both parties: the creditors, who are owed debts, and the minor, whose financial capacity is limited. The minor's invested assets in the trade may not suffice to settle these debts. Accordingly, this situation presents a problem of conflicting interests between the two parties.