世界银行《关于有效破产与债权人/债务人制度的准则》
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摘要
鉴于有效的破产法律制度和债权人/债务人保护体系对于建设良好投资环境、促进商业繁荣发展的重要作用,汲取亚洲金融危机的经验教训,世界银行集团自1999年起研究制定《关于有效破产与债权人/债务人制度的准则》(以下简称《准则》),并适时更新。2015年修订后的最新《准则》包括三部分,一是简介,详述世界银行制定《准则》的初衷和拟订进程,强调《准则》定位是为各国提供适用广泛、因地制宜、综合性的制度评估工具;二是概要,择取信贷环境、风险管理、庭外重组、破产制度以及提升良好投资环境重要因素等指标,详述法律制度对商业运作的影响,是为《准则》制定的逻辑和理论基础;三是准则,又分为四版块:A版块为促进以合理费用广泛获取信贷的商事法律体系构建原则,具体涉及在动产担保、不动产担保、无担保情形下的债权人/债务人权利;B版块为构筑征信体系为主的风险管理制度和庭外重组法律框架的核心要素和政策选择;C版块为商事破产法律制度的架构,包括跨境破产制度;D版块为保障前述体系实施的司法体系和监管架构。
Well-designed legal and regulatory frameworks with respect to insolvency and creditor/debtor rights(ICR) facilitate the inclusive investment environment and enable private sector development. Accordingly, the World Bank Group has been working with partner organizations to The Principles for Effective Insolvency and Creditor/Debtor Regimes(the Principles). The Principles, initiated to respond to the Asian Financial Crisis in late 1990 s, have been periodically refined and updated since then.The latest version of the Principles refined in 2015 consists of three parts: the Introduction, the Executive Summary and the Principles. The Introduction elaborates the cause and the formulation of this document and emphasizes the Principles designed to provide members states with broad-spectrum, contextual and integrated tool for assessing their respective legal systems.The Executive Summary sets out the benchmarks through which legal systems impact business operation, which includes the credit environment, the risk management and informal workout system, the insolvency law systems, and the overarching considerations for promoting sound investment climates. Such analysis constitutes the logical and theoretical foundations of the Principles.The Principles are divided into four parts: Part A highlights the elements of commercial legal systems that facilitate the flow of credit at affordable costs, containing the security on real property, movable property and enforcement of unsecured debts. Part B outlines key features and policy choices relating to the legal framework for risk management and informal corporate workout systems. Part C lays out the formal commercial insolvency law frameworks with cross-border insolvency included. Part D concerns the sound judicial and regulatory frameworks that safeguards the implementation of the insolvency and credit/debtor rights systems.
Well-designed legal and regulatory frameworks with respect to insolvency and creditor/debtor rights(ICR) facilitate the inclusive investment environment and enable private sector development. Accordingly, the World Bank Group has been working with partner organizations to The Principles for Effective Insolvency and Creditor/Debtor Regimes(the Principles). The Principles, initiated to respond to the Asian Financial Crisis in late 1990 s, have been periodically refined and updated since then.The latest version of the Principles refined in 2015 consists of three parts: the Introduction, the Executive Summary and the Principles. The Introduction elaborates the cause and the formulation of this document and emphasizes the Principles designed to provide members states with broad-spectrum, contextual and integrated tool for assessing their respective legal systems.The Executive Summary sets out the benchmarks through which legal systems impact business operation, which includes the credit environment, the risk management and informal workout system, the insolvency law systems, and the overarching considerations for promoting sound investment climates. Such analysis constitutes the logical and theoretical foundations of the Principles.The Principles are divided into four parts: Part A highlights the elements of commercial legal systems that facilitate the flow of credit at affordable costs, containing the security on real property, movable property and enforcement of unsecured debts. Part B outlines key features and policy choices relating to the legal framework for risk management and informal corporate workout systems. Part C lays out the formal commercial insolvency law frameworks with cross-border insolvency included. Part D concerns the sound judicial and regulatory frameworks that safeguards the implementation of the insolvency and credit/debtor rights systems.
引文
[1]作为顾问小组的世界银行专业委员会由非洲开发银行、亚洲开发银行、欧洲复兴开发银行、美洲开发银行、国际金融公司、国际货币基金组织、经济合作与发展组织、联合国国际贸易法律委员会、国际破产协会、国际律师协会(J委员会)组成。此外,70多名来自不同国家/地区的国际知名专家参与了各任务单元和工作小组。
[2]参见准则A6脚注。
[3]本准则项下的强制执行主要针对如何在债务回收程序中处置企业债务人。强制执行程序如涉及个人债务人,应规定合理、界定清晰的财产豁免范围,允许个人债务人保留日用品,保留职业、工作和本人及家庭生活必需的资产。
[4]本准则仅针对公司董事在知道或者应该知道公司濒临或难以避免破产期间的责任。公司治理的一般性原则、董事与高管对股东负有的责任另由OECD《公司治理准则》规范。
[5]《准则》中将负有此类责任的人统称“董事”。
[6]董事因违反义务而赔偿债权人损失的责任不排除金钱赔付外的其他救济方式,例如罢黜董事资质;也不排除董事因欺诈行为被追责,包括追究刑事责任。
[7]理想情况下,破产程序应适用于国有企业。或者,一国基于强有力的国家政策考量,清晰规定(相同情形下)国有企业的处置方式。
[8]破产认定可采用单一标准或双标准。如采取单一标准,则只能基于流动性标准认定破产——即债务人无力偿还到期债务。
[9]合同责任的处理通常也包括租赁合同。
[10]相关的金融合同类型应根据现行的国际金融规范(如下)提前确定。终止和终止净额结算条款的履行不能排除一国有关银行破产或危机拯救机制或其他类似暂时的中止执行条款的适用,特别是为了有序将合同转让给资金充足的相对人。此类中止机制应同时辅以适当的保障机制。只要债务人能够按照约定完全履行合同义务,提前终止权则不能行使。应定期检视国内法相关条款,保障其与《欧洲银行恢复与风险处置指令》《欧盟关于金融担保安排的指令》、国际金融稳定委员会(FSB)、《金融机构有效处置机制的关键要素》、国际统一私法协会《关于终止净额结算条款的操作准则》等国际规范保持一致。
[11]同权等比原则的适用受到债权人之间的协议和合同附属条款调整,或者有时在衡平居次原则下调整某债权人的主张是恰当的。
[12]参见准则C11。
[13]参见准则C15、C16。
[14]参见准则B2。
[2]参见准则A6脚注。
[3]本准则项下的强制执行主要针对如何在债务回收程序中处置企业债务人。强制执行程序如涉及个人债务人,应规定合理、界定清晰的财产豁免范围,允许个人债务人保留日用品,保留职业、工作和本人及家庭生活必需的资产。
[4]本准则仅针对公司董事在知道或者应该知道公司濒临或难以避免破产期间的责任。公司治理的一般性原则、董事与高管对股东负有的责任另由OECD《公司治理准则》规范。
[5]《准则》中将负有此类责任的人统称“董事”。
[6]董事因违反义务而赔偿债权人损失的责任不排除金钱赔付外的其他救济方式,例如罢黜董事资质;也不排除董事因欺诈行为被追责,包括追究刑事责任。
[7]理想情况下,破产程序应适用于国有企业。或者,一国基于强有力的国家政策考量,清晰规定(相同情形下)国有企业的处置方式。
[8]破产认定可采用单一标准或双标准。如采取单一标准,则只能基于流动性标准认定破产——即债务人无力偿还到期债务。
[9]合同责任的处理通常也包括租赁合同。
[10]相关的金融合同类型应根据现行的国际金融规范(如下)提前确定。终止和终止净额结算条款的履行不能排除一国有关银行破产或危机拯救机制或其他类似暂时的中止执行条款的适用,特别是为了有序将合同转让给资金充足的相对人。此类中止机制应同时辅以适当的保障机制。只要债务人能够按照约定完全履行合同义务,提前终止权则不能行使。应定期检视国内法相关条款,保障其与《欧洲银行恢复与风险处置指令》《欧盟关于金融担保安排的指令》、国际金融稳定委员会(FSB)、《金融机构有效处置机制的关键要素》、国际统一私法协会《关于终止净额结算条款的操作准则》等国际规范保持一致。
[11]同权等比原则的适用受到债权人之间的协议和合同附属条款调整,或者有时在衡平居次原则下调整某债权人的主张是恰当的。
[12]参见准则C11。
[13]参见准则C15、C16。
[14]参见准则B2。