A Study On The Interests Protection Of Financial NPL Assignee

Along with the development of market economy, the number of new difficult cases has increased, inflecting the lag nature of legislation of our country. The assignments of bad financial creditor’s right are mostly political and spatial problems left over by history; therefore, in terms of legal application, it is restricted to simply apply the legal content of credit assignment specified in Contract Law, which can not unify between the national interest and social interest and even may lead to state-owned property drain. Since the financial non-performing assets are lack of a value assessment mechanism, especially the third-party value assessment mechanism, many bad financial creditor’s rights are operated under table and the phenomenon of “making great fortune overnight” caused by “buying high and selling low” happens occasionally; therefore, in order to avoid the opportunistic behavior(the explosion of assignee property through damaging national assets) of assignee, it should be viewed out of the angle of equal civil subject specified in Civil Law. The assignment of bad financial creditor’s right is related to national interest and social interest and even to the safety of state-owned assets and the implementation of finance monetary policy. Hence, the relevant legal relations and legal values are analyzed while introducing the policy background so as to examine and weigh the relevant policies.The legitimate interests of the assignees of state-owned enterprises and non state-owned enterprises should be protected while protecting the national assets and maintaining state interests; in particular, under the circumstance of equal “value”, preference should be given to the legitimate interest of social subject; for instance, when the assignee purchases the creditor’s rights under the condition of basically equal value, the judicial personnel should understand and apply the relevant protective contents in Summary of Forum on Hearing the Cases Involving Assignment of Bad Financial Creditor’s Right flexibly according to the case and practical situation. In the practical operation, many judicial personnel and the plaintiffs and defendants of the lawsuits think that the judicial personnel have no right to change or choose whether to use the contents specified in the relevant meeting summary, which is incorrect and partial and even is suspected of being formalism. The application premier of this summary is that it should be associated with the specific judicial work and should be implemented according to the practical situation; in terms of the individual cases, the judicial personnel should give consideration to the legitimate interests of the assignee while maintaining national assets and interests in accordance with the specific case. During the assigning of bad claim, the assignee may bear many risks, such as policy risk and implementing incapability risk which may lead to the bankruptcy of assignee; if the assignee’s bad financial creditor’s right is damaged repeatedly or if nobody cares about the similar assignment of bad financial creditor’s right without regard to these practical situations, it is a kind of behavior that hurts the national interest and gives rise to the state-owned property drain. The key issue to be expounded in the following parts is about taking the legitimate right and interest of assignee into account while protecting national assets and interests; in the second part, the author will elaborate how to keep balance between the mutual interests, how to take into account both the national interest and social interest and how to understand and apply the policy documents issued by Supreme People’s Court through a real case in the recent period. The questions and answers will be restored veritably through empirical study.In conclusion, the laws and regulations related with the assignment of bad financial creditor’s right in our country are not perfect and some regulations are adjusted on the basis of the policy documents; the practitioners of bad financial creditor’s right are lack of legal reference and the problems during the assignment process are on the ambiguous legal limbo. In particular, there are no legal and policy documents for distinguishing the policy and commercial bad financial creditor’s right assignment and thus the commercial bad financial creditor’s right purchased by the financial assets management company with self-raised funds for purpose of getting rid of financial pressure is lawless. When there are no laws to provide protection and it is unfair to apply the policy documents issued previously after the natural and legal persons of the non-financial institutions purchase the bad financial creditor’s right, the law lagging appears obviously. There are many problems during the assignment of bad financial creditor’s right and there are no specific provisions in the relevant laws; therefore, in this thesis, the problems will be explored from legislation and judiciary so as to discuss the relevant problems of bad financial creditor’s right assignment during the law blank period. Meanwhile, it is hoped that the legislative branch of our country can introduce the relevant laws and regulations as soon as possible and make specific provisions on the relevant legal issues.