The Bond Of Cloud Live Technology Group Default Case Analysis

March 2014,the raised bond "11 Chaori bond" has been announced default,as the hidden " rigid payment system " of the bond was broken for the first time,which made 2014 been dubbed "the first year of default" of the China's bond market.As the "11 Chaori debt" event of default has not been yet settled,"12 Lanbo 01" ? "12 Zhifu bond" and other private bonds have announced a delay in payment of funds,which meaned default risk of the bond market was being further fermentation,accumulation and expansion.Therefore,perfect bond market to repay mechanism,perfect the legal system of securities,improve the ability of investors risk prevention,strengthen internal management and so on become a problem urgently to be solved in the bond market.Combining scholars proposed theoretical research,including bond defaults theory ? the measure of default risk and bond default handling mechanism,etc,with the bond of Cloud Live Technology Group default,this paper discusses the problem of bond default.First of all,based on industry development present situation,this paper introduces the background and state of the Cloud Live Technology Group in detail,and according to the time sequence of the bond issue,risk exposure and bond default to explained bond default process.Then,based on the above to the understanding of the event of default,this paper detailed analyzed of the factors leading to debt default,evaluated the level of default risk bonds subsisting during and resolved the bond default handling mechanism of the case.This paper argues that bond issue company should formulate feasible safeguard clause,enhance their liquidity,layout advantage industry chain at the same time,avoid blindly cross-border transformation;investors should establish risk prevention awareness,and enhance the ability to identify risk,positive action after the debt default,to protect their legitimate rights and interests;the bond market regulatory authorities should strengthen supervise bond issue and performance,try to establish bonds callable mechanism.