Abs International Project Finance Legal Issues

ABS International Project Financing makes use of the mode of asset securitization in international project financing, issuing ABS project bonds in the international capital market. As a new burgeoning financing technique, ABS mode has been used more and more in those project-financing cases that need large funds. ABS international project financing is not only an economic financing technique but also a legal course. Legal guide and legal restriction penetrate through the entire operational course. This present paper researches ABS international project financing right from legal angle of view.This present paper includes four parts. First of all, it introduces project financing and asset securitization fundamentally, and briefly gives a legal analysis to their relationship. Based on above discussion, ABS international project financing is introduced, and its signification, legal relationship and fundamental legal issues during operational course are analyzed. And then, the legal establishment of the core system (bankruptcy remoteness and guaranty) is selected to further a comparative analysis, with the research on the legal system of the countries like USA and U.K., which have developed capital markets. The focus of the present paper is the above mentioned two parts: the fundamental legal issues and core legal issues on ABS international project financing. Last, a case study on legal obstacle confronted with China's operation of ABS international project financing is discussed, and the analyzing and comparative study results are applied into the current China's legal system, with suggestions on the corresponding legislative improvement.Through the analysis on the essence, legal relationship, legal operational process, and legal establishment of core system of ABS international project financing, the present paper aims to establish a legal system model for the successful operation of this financing technique, so as to impel the said technique to apply in China's large-scale financing projects.