1. The Civil Code of People's Republic of China (PRC) stipulates that the conditions for a company to cancel the transfer of creditor's rights and debts are:
(1) Effective creditor's rights. The transfer of creditor's rights must have a valid contract, and the effective existence of creditor's rights is the fundamental premise of creditor's rights transfer;
(2) The assignor and assignee of creditor's rights must reach an agreement on the assignment of creditor's rights;
(3) The assigned creditor's rights must be transferable.
2. Legal basis: Article 67 of the Civil Code of People's Republic of China (PRC).
Where a legal person is merged, its rights and obligations shall be enjoyed and assumed by the merged legal person.
Where a legal person is divided, its rights and obligations shall be jointly claimed by the divided legal person, unless otherwise agreed by the creditor and the debtor.
Article 75
The legal consequences of the civil activities carried out by the promoters for the establishment of a legal person shall be borne by the legal person; If a legal person is not established, the legal consequences shall be borne by the founder. Where there are more than two promoters, they shall enjoy joint creditor's rights and bear joint debts.
The third party has the right to choose to request the legal person or promoter to bear the civil liability arising from the establishment of a legal person to engage in civil activities in its own name.
Two. Can an enterprise cancel its creditor's rights and debts and transfer them to shareholders?
Creditor's rights and debts cancelled by an enterprise can be transferred to shareholders. With the consent of the creditors and shareholders, the creditor's rights and debts of the company can be transferred to the shareholders, and the debtor needs to be notified when transferring the creditor's rights.