浅析破产重整企业的融资困局

The Financial Problem of the Corporate Reorganization

由于破产法对融资提供者提供了有力的保障,DIP融资一向被认为是濒临破产困境的企业所能获得的最为安全的贷款。然而,事与愿违。如今的DIP融资市场正呈现出逐渐萎缩甚至消亡的势头,破产重整企业融资难的困局已经成为制约企业重生的瓶颈。是什么导致了破产重整企业融资难的困局?融资难困局又将带来什么影响?对冲基金参与企业破产重整的实践正是在这个大背景下产生的。

DIP loans traditionally were viewed as safe and profitable for lenders and were almost taken for granted by many potential debtors. However,today many are concerned that the market for DIP financing has all but disappeared, and it had become a struggle to find DIP financing for the insolvent firms. What caused this？ What influence will financing difficulty bring about？ The practice of hedge fund participation and enterprise bankruptcy is produced under the background.