Study Of Financial Asset Management Company Claims The Disposal Of Legal Issues

Since 1980s, many countries, like the United States, and Japan, have set up specialized creditor-right disposing institutions to settle the financial crisis through disposal of non-performing assets. In 1999, China government set up four specialized financial asset management corporations such as Huarong, Cinda, Greatwall, and Dongfang(herein after referred to as "Asset Corporations") to dispose the non-performing assets acquired from the state-owned commercial banks. Many scholars have inquired into problems of the disposal of the non-performing assets from different aspects, especially legal issues of the disposal. However, the present research on the foreign laws which are introduced for reference haven't a clear aim, and have lagged behind the practice of the asset disposal, so that the foreign rules introduced can't natively integrate with Asset Corporations' business. Therefore it's urgent to provide theory reference for the legislation and the making of the matching policies of NPLs' disposal through a systematically deep legal research on the disposal based on the five-year Asset Corporations practices. This article has the typical modes of the disposal as a central line to systematically research the legal problems of the disposal through comparative study, positive study, and synthetic study.Firstly, this article has discovered the common legal problems of the disposal based on the study of the disposal's legal foundation, the legal feature, the disposing aim, and the category.Secondly, this article has put forwar that the willing-swapping-debts-into-equity mode and the forcible- swapping-debts-into -equity mode shall be tested in China, and has proven the feasibility of testing the two modes based on the systematical and multi-aspect legal research on the swapping-debts-into -equity mode of the disposal, which is a long-term mode of the disposal with Chinese characteristics. We have mainly studied the jurisprudence basis and legal feature of the swapping-debts-into -equity mode, and corporate management structure. We have analyzed the present means by which Asset Corporations as shareholders can claim their rights at present or in the future. We have also systematically eyed the secede mode of share. the legal confliction, the legal risk, and the risk prevention, having the rules of company restructure in foreign countries as reference.Thirdly, this article has researched the special legal problems of the three typical disposing modes of the short-term creditor rights, namely NPLs lawsuit, creditor-right package, debt abatement. (i)As far as the lawsuit mode concerned, we put forward that the legislation and the making of matching policies shall be bettered, and that we shall set up rules that verdict can be performed by upper court instead of the original court, and rules that cases shall be reported periodically, after researching the law application, the lawsuit alienation, the lawsuit rate, the dodge of the financial debts, and the space-time confliction. (ⅱ) We analyze the legal risk which exists in the mode of package, and we conclude that the policy of due diligent research shall be reformed. (ⅲ) When expounding the mode of debt abatement, we detail the mode's risk of law, and design the policy to guard against the risk. Meanwhile, using the international experience for reference, we deplore the specific application of quasi-judicial policy, and the measures to guard against the abusing of the quasi-judicial power.Fourthly, this article finally mapped out the constructional ways to dispose NPLs through the performance of law. We expound the necessity of legislation to formulate the NPLs disposal, and design and prove the principles of the legislation. We further conclude that the mode of legislation to formulate the NPLs disposal is a kind of special law. We also give our suggestions on how to deal with the important issues of the legislation such as the mode of NPLs' disposal, the Asset Corporations' corporation management structure, the procedure of NPLs' disposal, the marketing entrance, the swapping-debts-into-equity mode, the judicial right, and the supervision of the business.