公司债券持有人会议制度的法理逻辑思考

Legal Logic Thinking on the Conference System of Corporate Bondholders

近年来,公司债券违约事件频发,尤其是今年经济下行压力大,违约债券只数激增,严重损害持有人利益,债券持有人会议制度作为持有人私力救济的一个重要制度理应发挥作用。债券持有人会议应是持有人维权的首选,但是我国关于持有人会议制度的相关规定法律效力层级低,且持有人会议制度相关规则很不健全,实际运行时,会出现系列争议,持有人会议难以发挥应有的制度功能。因此,通过分析债券持有人面临的潜在风险及我国关于持有人会议的现状,对持有人会议规则构建提出相关建议。

In recent years,corporate bond defaults have occurred frequently,especially this year,the economic downturn has been high,and the number of defaulted bonds has soared,seriously damaging the interests of the holders.The bondholders'conference system,as an important system for the holder's private relief'out to takecffect.The bondholders'meeting should be the first choice for holders to defend their rights.However,the legal effect level of the relevant regulations on the holders'conference system,as low,and the relevant rules of the holders'meeting system are not perfect.In actual operation,there will be a series of disputes.It is difficult for the holder meeting to play its due function.Therefore,by analyzing the potential risks faced by bondholders and the status quo of the holders'conference in China,the corresponding suggestions on the construction of the holder's meeting rules are put forward.