我国商业银行不良资产处置“债转股”实践中的法律困境与完善思路

发布时间：2018-10-29 19:13

【摘要】：随着商业银行不良资产集中处置的新节点到来,作为商业银行不良资产处置重要方式之一的“债转股”得以重启。而在我国“债转股”模式下,债权投资合法性、“债转股”诉讼、股权退出以及与其他法律制度的衔接等法律问题已经成为其实施的实质性障碍。从“债转股”的实施背景出发,其面临法律困境的根源在于制度的政策化。自1999年形成的“债转股”机制并不是严格意义上的法律概念,而是一种政策性产物,其完善应从市场化的转变入手。1999年“债转股”虽然存在行政干预过度、未实质改善企业经营机制、股权退出难度大等问题,但在有效降低商业银行不良贷款风险、严格规范适用对象与范围、创设第三方实施机构等方面取得了巨大成效,1999年“债转股”的部分有益经验仍值得借鉴。通过1999年“债转股”与新一轮“债转股”启动的对比梳理,本文认为,在我国市场经济体制日益完善的形势下,若要顺利推进“债转股”的实施,应坚持以“债转股”市场化为原则,构建完整的“债转股”制度体系,着重在股权退出创新、适当限制“债转股”适用以及与其他法律制度的衔接等方面对我国“债转股”制度进行完善,逐步清除“债转股”所面临的法律障碍,使其更具有普适性。
[Abstract]:With the arrival of a new node in the centralized disposal of non-performing assets of commercial banks, "debt-for-equity", as one of the important ways to dispose non-performing assets of commercial banks, has been restarted. However, under the mode of "debt-for-equity" in China, the legal problems such as the legality of creditor's rights investment, the litigation of "debt-for-equity", the withdrawal of equity and the connection with other legal systems have become the substantive obstacles to its implementation. From the background of the implementation of "debt to equity", the root of its legal dilemma lies in the policy of system. The "debt-for-equity" mechanism formed since 1999 is not a legal concept in a strict sense, but a policy product, and its perfection should begin with the market-oriented transformation. Although there is excessive administrative intervention in the "debt-to-equity swap" mechanism in 1999, However, it has achieved great results in effectively reducing the risk of non-performing loans of commercial banks, strictly standardizing the applicable objects and scope, and creating third party implementing institutions, etc. Some beneficial experiences of "debt to equity" in 1999 are still worthy of reference. Through the comparison of "debt to stock" in 1999 and the start of a new round of "debt to stock", this paper holds that under the circumstances of the increasingly perfect market economic system of our country, if the implementation of "debt to equity" is to be carried out smoothly, We should adhere to the principle of "debt-for-equity" marketization, construct a complete system of "debt-for-equity" system, and focus on the innovation of equity withdrawal. We should limit the application of "debt-for-equity" and link up with other legal systems to perfect the system of "debt-for-equity" in our country, and gradually remove the legal obstacles faced by "debt-for-equity", and make it more universal.
【学位授予单位】：外交学院
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.287

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