Researching On Mezzanine Financing's Legal Risks And Prevention Countermeasures

With the continuous innovation of financing methods and financing tools,market economy subjects have explored and innovated.Based on the investor's interest in equity investment and the stability of creditor's rights investment,the mezzanine financing is created and is widely used by many enterprises as an innovative financing method.The rapid development of the mezzanine financing is that it satisfies the greatest common divisor of all parties.First of all,in the financing mode of the mezzanine financing,the financing party can satisfy its own financing needs on the one hand,and on the other hand,it can expand its own equity capital.At the same time,the investment model can effectively reduce the asset-liability ratio of the financiers;Second,the investor can obtain the corresponding income on the premise of lower risk;Finally,the asset management companies(including but not limited to: trust company,securities asset management planning,etc.)in the mezzanine financing investment model plays a very important role in the channel,and further expand the scale of management to get corresponding remuneration management.From the perspective of legal regulation,the legal risk of its market operation is prominent.Because the existing law does not stipulate to cause the contract invalid risk,once the dispute arises,the party that performs the contract first will cause the benefit to be damaged.In the case of the bankruptcy of the target company,according to the provisions of the bankruptcy law and the rights and interests of the equity,the risk of the investor facing the inferior payment is not even compensated.In addition,in practice,the mezzanine financing has the characteristics of structural complexity and diversified subject,so it often involves the interests of the third party.Therefore,the investors and financiers may take the risk of losing the lawsuit.The above mentioned risks exist in different forms in practice,so it is necessary to study the legal risks of the new financing mode of the mezzanine financing.This paper mainly used the literature analysis,empirical analysis,comparative analysis and other research methods,the present academia and practice next overspending: mezzanine financing research results,and empirically with typical cases,and on the basis of the analysis of the current mezzanine financing financing of the legal risks,so as to the analysis of the risk based on risk prevention countermeasures are put forward.Throughout academics in the field of the research,most scholars research of the thesis from the perspective of protecting the interests of the investors,since the mezzanine financing involved in multiple interests,so in this paper,based on the overall architecture of the mezzanine financing model,study from the perspective of different structural patterns,in order to appeal to both the interests of all parties,achieve win-win situation.On symptoms and cause of risk analysis,the current scholars focus on the various risks,this paper focused on the mezzanine financing legal risk,legal risk prevention countermeasures were put forward.mezzanine financing is not a legal term,but Ming stocks of real debt plan to rely on a series of contractual arrangements,so there are contractual nature that unknown investors property loss caused by risk,credit risk caused by the terms of the contract agreement is not reasonable,by to protect the interests of the third person liability risk,repurchase of repurchase cannot risk,investors risk of defective capital contribution,etc.In view of the above risks,the author believes that the target corporate governance system should be standardized first,and information disclosure should be strengthened to play the role of investors.Secondly,we should design the contract text scientifically and reasonably,and focus on protecting the interests of investors and third parties,so as to ensure the smooth implementation of the mezzanine financing.