作者簡介：石靜霞，女， 1970年生，1995年師從武漢大學余勁松教授，于1998年獲博士學位。本文獲2000年度全國百篇優秀博士論文。
摘 要
隨著國際經濟交往的日益頻繁及跨國公司的迅速發展，含有國際因素或涉外因素的破產案件亦隨之增多。自 90年代以來，由跨國破產所引發的法律問題成為國際法律界研究的熱點與重點之一。我國在改革開放、吸引和利用外資的進程中，也不可避免地會面臨這一問題，時下引起廣泛關注的“廣東國際信托投資公司破產案”即是一例明證。
跨國破產所涉及的法律問題很多，囿于時間、精力及篇幅的限制，本文不可能對所有問題進行面面俱到的研究。抓住跨國破產中關鍵、核心的問題進行探討，是寫作本文的出發點。在寫作方法上，本文采取了比較研究和判例研究的方法，力圖清晰地對跨國破產中的重點法律問題進行探討，并盡可能結合中國的有關立法做必要的闡釋。全文分為十二章，共 30余萬字。
第一章為導論，旨在對破產、破產法、跨國破產、跨國破產法等問題做一些基本的概述，使讀者對本文的研究基礎、背景、研究的主要內容、方法和現實意義等有大致的了解。在本章中，作者通過一些實例，闡明了在目前形勢下，研究這一問題對我國正在進行的統一破產法的立法工作所具有的迫切性與重要性。
跨國破產中最核心的問題是破產的域外效力問題，這一問題是解決所有跨國破產案件的基礎，所以本文從探討破產域外效力的問題入手。在第二章中，文章首先著重分析了破產域外效力的兩種理論——普遍性原則和地域性原則的涵義、各國取舍的內在動因及利弊評價，接著選取了幾個典型國家（包括美國、英國、法國、德國、日本、加拿大、墨西哥等）在這方面的實踐進行細致入微的比較分析。在此基礎上，作者指出：如何處理破產的域外效力問題，關鍵在于應當從有利于國際經濟交往的角度出發，在保護本國債權人利益和跨國破產案件的國際合作中尋求一種平衡。在具體的對策及方法上，盡管完全的普遍性原則在目前仍是一種理想，但應逐步放棄嚴格的地域性原則，可以將有限度的普遍性原則作為這種平衡的支撐點。最后設專節就我國在這方面的立法研究提供了比較系統的思路，建議我國的立法選擇應當為有限度的普遍性原則。這種做法既符合現代破產法的發展趨勢，也有利于保護我國債權人的利益及開展跨國破產合作。
第三章研究了對外國破產的承認與協助問題，這一問題與域外效力是緊密聯系在一起的。該章首先研究了承認與協助外國破產程序與一般外國法院判決的不同及破產宣告的兩種效力所引起的特殊問題，然后詳細分析了承認與協助外國破產時各國法院所考慮的幾個因素，特別是管轄權、法律適用、禮讓、互惠以及公共政策等，并對提供協助的方法進行了比較，在此基礎上對中國的相關立法提出了若干建議。第二章和第三章是本文研究的基礎和重點，也是體現本文貢獻的重要部分，所花費的筆墨較多。
直接清算、和解與重整是現代破產法規定的解決無力償債問題的三種途徑，在跨國破產中同樣面臨對外國和解、免責及重整程序的承認與協助問題。第四章是關于跨國破產中的和解與免責問題的探討，試圖解決的主要問題是承認與協助外國破產程序中的和解與免責的特殊性、所需的條件及后果、中國對外國和解的承認與協助、中國對外國免責裁定的承認等。這些問題與破產直接清算的效力、承認與協助有一定的相同之處，但并不能忽略它們的區別。現代破產法發展的一個重要趨勢是通過公司重整、債務重組等司法挽救手段，使處于困境中的債務人企業得到復蘇。近年來，跨國公司的重整頻繁發生，由此出現了許多新的法律問題。第五章分析了跨國重整所涉及的幾個基本問題，包括合格的債務人、對外國重整的承認、跨國重整的方法選擇等，并通過兩個跨國重整的典型案例，詳細剖析了平行重整程序和單一重整程序在跨國破產中的具體運作。在此，本文還特別注意到“替代性的爭議解決方式—— ADR”在跨國重整中的運用及發展，并對此進行了客觀的評價：一方面要充分認識到ADR的作用，但同時要注意的是，當事人的同意對跨國重整的成功也是至關重要的。
第六章分析了破產債權的幾個問題，特別是對外國政府稅收債權的承認問題。在跨國破產中，由于各國對破產債權的構成、順位、申報等具體問題的規定不同，因而涉及到如何解決和協調這些問題。同時，由于稅收債權的特殊性，是否承認外國的稅收債權也是跨國破產中需要考慮的重要問題。作者通過對這一問題的論證之后指出：在一定程度上承認外國政府稅收債權的這一新發展，與各國主權意識的相對弱化、加強跨國破產合作意識的相對增強有密切關系。
在跨國破產中，由于債務人具有國際聯系（或位于國外），故而經常實施抽逃資金、轉移資產、欺詐性轉讓或對個別債權人進行不公平的優先清償等侵害債權人整體利益的行為。所以，在跨國破產中對債權人進行特殊的保護與救濟是非常重要的。在這一問題上，第七章結合公司集團法的相關理論，詳細分析了對債權人在國外所接受的償付的處理、從屬求償、揭開公司面紗以及實體合并等幾種措施，分別指出它們的適用背景，并評價了各種措施的實際效果。在具體措施的研究之后，該章還討論了處理跨國公司破產問題的方法論問題——即各國立法和實踐在實體法觀點和企業法觀點上的演進和選擇。第七章的內容是本文研究的另一重點。
盡管有擔保債權不是破產法上的一項權利，但由于它的存在對破產財產的構成和無擔保債權人的受償帶來了很重要的影響，各國對有擔保債權的態度、所允許的擔保種類都是有所區別的。本文第八章對有擔保債權的特殊形式、有擔保債權在跨國破產中產生的特殊問題（包括法律適用、浮動擔保、特殊的約定擔保等）作了嘗試性的探討。
破產法上的否認權、取回權、抵銷權是涉及到破產財產的幾種權利。對于這幾種權利，本文回避了一般問題的研究，主要是針對這幾種權利在跨國破產中所產生的問題進行了重點的分析。否認權，中國有學者認為是一種撤銷權，在國際上一般稱為可撤銷交易。第九章研究了可撤銷交易的理論基礎、構成要件、運用、法律適用等，并對集團公司內部進行的可撤銷交易進行了分析和評論。
在現代社會，由于商事交易的發達，相互債權的大量發生，交易雙方同時兼具債權人與債務人雙重身份的情況越來越多。當有一方破產時，是否允許抵銷、在什么情況下可以進行抵銷，是影響債權人權利的重要問題。在跨國破產中，各國有關破產抵銷的法律規定不同，如何行使抵銷權也是債權人特別關心的問題。第十章針對各國在破產抵銷權上所持的態度、跨國破產中行使抵銷權產生的沖突性問題等進行了重點的分析。
國際貨物買賣合同中經常訂立所有權保留條款，這一條款在跨國破產的情況下具有非常重要的意義，特別是當買方占有貨物但未支付全部貨款就破產時。這時對賣方而言，最重要的問題是所有權保留條款是否可以被承認，因而要求破產管理人返還貨物，不依破產程序取得求償。第十一章討論了跨國破產與國際貨物買賣中的所有權保留條款問題，特別分析了有關所有權保留在跨國破產中的效力問題的承認說和否認說兩種主張及典型案例，指出在破產法的原則與促進國際貨物買賣之間產生矛盾時，應當如何持一種合理現實的態度來解決這一問題。
近些年來，國際合作的大勢所趨導致了跨國破產法律與實踐統一化運動的應運而生，并在幾個國際組織的推動下，取得了一些進展。在跨國破產領域，最好的國際合作形式是有關跨國破產的條約或公約。第十二章結合若干較為典型的國際組織的公約和示范法，對該領域法律與實踐的統一化運動進行了比較系統的回顧與總結，并展望了未來可能的發展趨勢。其中特別提到了一些新的成果，如聯合國貿易法委員會（ UNCITRAL）1997通過的《關于跨國破產的示范法》、歐盟理事會1995年制定的《關于破產程序的公約》等。
關鍵詞：破產、跨國破產、破產域外效力、債權人救濟、和解、跨國重整
Abstract
With the development of international economic communication and transnational corporations, there are more and more insolvency cases concerning international or foreign elements. In this context, researches on legal issues resulting from cross-border insolvency became one of focuses of international legal scholar since 1990. China is now adopting reform and open policy and attracting foreign investment. During the course, China will face inevitably with legal issues in cross-border insolvency cases. The bankruptcy case of Guangdong International Trust and Investment Corporation, which attracts far-reaching close attention at present, gives a obvious illustration for this.
Cross-border insolvency concerns with so many legal issues that this dissertation cannot discuss them all due to the limitation of time, energy and scope of article, etc. Thus, the starting point should be to discuss some important and key problem raised by cross-border insolvency. With respect to the writing means, comparative researches and case studies are used in this dissertation in order to probe into some key problems more clearly and distinctly. In addition to this, Chinese relevant legislation and practice are combined into the necessary discussion and explanation. This dissertation is composed of twelve chapters, totaling about more than 300,000 Chinese words.
Chapter One, as an introduction to this dissertation, makes a brief glimpse on the general theory of insolvency, insolvency law, ross-border insolvency and ross-border bankruptcy laws, reveals the research background and foundation, the main contents, research means, practical significance and value of this dissertation to the readers. In this chapter, the dissertation illustrates the significance of this research to China at present through some facts.
The extraterritorial effect of bankruptcy, as the most important legal problem in cross-border insolvency, should be the basis of solving all cross-border insolvency cases. For this reason, this dissertation starts with the extraterritorial effect of insolvency proceedings. In the Chapter Two, the author at first analyses two theories on this issue, "universalist" view and territorial approach, including their meanings, inherent cause of choice by a country’s legislation and comments on their advantages and disadvantages. Thereafter, the author expounds the theory and judicial practice in some countries (including USA , UK , Canada , Japan , France , Germany , Australia , Argentina , Mexico , etc). Based on the above-mentioned researches, the author points out: the crux of the matter is how to keep balance between the protection of local creditors and international cooperation in cross-border insolvency cases from the point of view of increasing the international economic communication. In view of the concrete measures and strategies, although pure "universalist" view is still a kind of idealism, strict territorial approach should be given up. To some degree, the balance of emphasis being placed on the "controlled universalist" principle. Subsequently, a systematic train of thought is provided to Chinese uniform bankruptcy law’s formulation on this problem. The dissertation advises that China should choose "controlled universalist" principle in coming legislation. This attitude will conform to the development trends of modern insolvency laws, protect the interests of Chinese creditors and conduct the cooperation of cross-border insolvency cases.
Chapter Three probes into the recognition and assistance of foreign bankruptcy proceedings, which has very close relation with the extraterritorial effect problem. Firstly, this chapter discusses the differences between the recognition and assistance of common foreign judgments and foreign insolvency proceedings, and some particular problems resulting from the two kinds of effect of bankruptcy declaration. Hence, the dissertation inquiries into some factors considered by the courts when they recognize and assist foreign bankruptcy judgment, especially emphasizes the proper jurisdiction, reasonable application of laws, international comity, reciprocity, public policy, etc. The measures of providing assistance are also compared in this chapter. On these bases, some useful suggestions are given to Chinese relevant legislation.
Comparatively speaking, both Chapter two and Chapter three not only are the foundation and focal points, but also embody the contribution of this dissertation. Thus, these two chapters deserve much pen and ink. Direct liquidation, composition and reorganization are the three main means salvaging the insolvent enterprises. Most modern insolvency laws provide these three means. In cross-border insolvency, recognition and assistance of foreign composition, discharge and reorganization are still to be considered. Although there are many similarities among liquidation, composition and reorganization, the differences among them should not be ignored. In Chapter Four, the author gives more attention to some special issues of the composition and discharge in cross-border insolvency. The main problems that the author tries to solve include the particularity and conditions of recognition and assistance of foreign composition and discharge, the differences between the recognition of foreign composition and discharge. In addition to these, the recognition and assistance of Chinese courts to foreign composition and discharge are also concerned in this chapter.
One of the very key development trends of modern insolvency laws is to make insolvent enterprises recovery through such means as corporate reorganization, debt reconstruction, etc. Reorganizations of transnational corporate are proliferating in recent years, which put forward many new legal problems. Chapter Five observes the several basic legal problems in crossborder reorganizations, including the eligible debtor for reorganization proceedings, recognition of foreign reorganization proceedings, choice of measures of reorganization, etc. This chapter concentrates on the two ways by which cross-border reorganization conducts, one is single proceeding, and the other is parallel proceeding through two famous reorganization cases. In addition to these issues, this part also gives particular concern on the utilization and development of Alternative Dispute Resolution (ADR) in cross-border reorganizations. The author comments on the role of ADR in reorganization and thinks that for one hand, the active function of ADR should be admitted, on the other hand, the agreement of all parties is very important to the success of reorganization proceedings. In cross-border insolvency cases, due to the differences among the provisions on the composition, sequences, declaration and proof of bankruptcy claims in most countries’ insolvency laws, how to resolve and harmonize these problems should be considered. Moreover, whether foreign revenue claims are recognized also becomes one important issue needed to solve because of particularity of this kind of claims. In Chapter Six, the author touches upon the several problems over bankruptcy claim, especially recognition of foreign revenue claim. The author points out that the new development of recognition of revenue claim is relative with the decrease of sovereign sense and increase of cooperation concept in the world.
Owing to the international relations of debtors (or debtors abroad), they often conduct such behaviors as taking out capitals, transferring funds, fraudulent transfer and inequitable preferences, etc, which is very harmful to the whole creditor’s interests in cross-border insolvency. Thus, it is very necessary to provide with special protection and remedies for creditors in this context. Chapter Seven inquires into the creditors’ remedies in cross-border insolvency combining with the theories of corporate group. It concerns with the treatment of the payment obtained by the individual creditor abroad, equitable subordination, piercing the corporate veil and substantive consolidation. The latter three remedies mainly apply to dealing with the insolvency of transnational corporations. The methodology of solving the insolvent problems of transnational corporation includes entity law and enterprise law. Their advantage and disadvantage and application are also researched in this part.
Priority rights are important in corporate insolvency although they are not bankruptcy claims. Priority rights or secured interests influence the composition of bankruptcy claims directly. Chapter Eight explores the treatment of security interests in cross-border insolvency, mainly about the special form of security interests (for example, floating charge and consensual liens) and some problems resulting from security interests, including conflicts of laws. Chapter seven is another focal point in this dissertation. Although secured interests are not one kind of right in solvency laws, it influences the composition of bankruptcy estate and the payment to the unsecured creditors. Therefore, the attitude of insolvency laws on the secured interests, the kinds of secured interests is very different in most countries. Chapter Eight makes a detailed study on the special forms of secured interests, particular issues of secured interests in cross-border insolvency, including the applicable laws, floating charge and consensual liens, etc.
In insolvency laws, there are special rights concerning the bankruptcy estate, for instance, set-off, voidable transactions, etc. With respect to these rights, evading the researches of general issues, this dissertation mainly focuses on some special issues in cross-border insolvency. Voidable transactions (gift and transactions at an undervalue, unfair payment, voidable preference, fraudulent transfer, etc) are harmful to the most creditors’ interests, Chapter Nine lays an emphasis on the analysis of the theoretical foundation, components, practical application, conflicts of laws of voidable transactions. This chapter also concerns with the law of corporate group problems in the bankruptcy or reorganization of Parent and Subsidiary Corporation, including the issues of corporate guarantees.
In modern society, there is more and more mutual obligation due to the development of commercial transactions. A party may be both a creditor and debtor. This situation becomes very common. When one party is insolvent, whether the other party can set off the obligation is a very critical issue. At the same time, this problem has close relations with the interests of other creditors. Chapter Ten gives a comparative research on the set-off in cross-border insolvency, particularly how to solve the conflicting problems due to the different attitude among the different states.
The clause of reservation of title is often written into the international sale of goods contract to decrease the risk of buyer’s non-payment. When buyer obtains the goods (but not paying), if he is insolvent, this clause is of vital significance. It is most important for buyer whether the effect of this clause can be recognized. If the answer is "yes", the buyer can obtain his goods again and need not attend the insolvency proceeding. The legal effect of this clause is different in most countries and many conflicts result from this. Chapter Eleven mainly concerns with the effect of reservation of title in cross-border insolvency through some famous cases. The author thinks that a reasonable and pragmatic attitude is helpful to resolve these problems when the fundamental principles of bankruptcy laws and the goal of development of international trade contradict.
In recent years, the obvious trend of international cooperation leads to the production of unification of laws and practices of cross-border insolvency. Some important international organizations give impetus to this movement, and some progresses are made since 1980. The best cooperation way is through convention or treaty on cross-border insolvency in this field. In Chapter Twelve, on the basis of analysis of some influential conventions and model laws, the author reviews and summarizes the unification of laws and practices of cross-border insolvency, and prospects future development trends in this field. Some new achievements are mentioned in this chapter. For instances, EU convention on insolvency proceedings is the most remarkable achievement in cross-border insolvency law field for these years. The convention stands for new trends for bankruptcy cooperation. It will exercise good influence over the handling such insolvency cases. In addition to this convention, UNCITRAL model law on cross-border insolvency is also examined.
Key Words: bankruptcy, cross-border insolvency, composition, cross-border reorganization, extraterritorial effect of bankruptcy, creditors’ remedies |
