破产撤销权制度中“使债务人财产受益”的认定标准重塑

Reshaping the Criteria of Determination of“Beneficial for the Debtor’s Assets”of the Rules of Avoidance Power in Bankruptcy

“使债务人财产受益”的司法认定中,受限于侵权法思路,部分法院侧重从清偿行为当时债务人财产形式上的数额变动解释“受益”,对与认定“受益”有关的交易模式或交易习惯要素则欠缺考量。“受益”的内涵应从实质上有利于债务人企业持续营运、债务人资产价值最大化的角度去把握。“使债务人财产受益”的司法认定标准可以从原则性标准与典型情形下的具体标准两方面构建,原则性标准涵盖行为本身的价值要素、交易模式要素以及行为潜在的维系营运价值要素三个维度的内容,未来法院需依据个案情形综合考量各要素项下的相应标准进行裁判。认定即时等值交易、常规营业给付时,法院应当注重识别债务人与个别债权人之间的交易模式或交易习惯,在此基础上判断交易是否具有即时性、清偿行为是否契合常规交易模式等。

In the judicial determination of the“beneficial for the debtor’s assets”,some courts tend to explain such an exception to administrator’s avoidance power by only focusing on the change in the amount of the assets after the debtor’s payment,which is influenced by the path of tort law.Additionally,some courts do not consider transaction patterns or routine practices between the parties,which is a key element of determination of“beneficial for the debtor’s assets”.“Beneficial for the debtor’s assets”means that those technically preferential payments are essentially conducive to the continuing operation of the company and maximization of the value of the debtor’s assets.The judicial determination criteria of“beneficial for the debtor’s assets”should be designed from two aspects involving principle-based criteria and specific criteria under typical situations.The principle-based criteria contain three aspects:the consideration of the payment,the transaction patterns,and the value of maintaining the operation of the company underlying the payment.In future,courts should make a judgement by comprehensive consideration of the aforementioned three aspects of the principle-based criteria on a case by case basis.When determining the contemporaneous exchange and the ordinary course payment,courts should pay attention to transaction patterns and routine practices between the parties,and then decide whether a transfer is in fact substantially contemporaneous or whether a payment is in accordance with the transaction pattern.