Category: Money tips Release Date: 2006-05-04
January 24, 2006, by the Supreme People's Court approval, the Shenzhen Intermediate People's Court Dapeng Securities declared bankruptcy, Dapeng Securities and managed over a year, clearing way to bankruptcy after the final out of the stock market. The incident caused widespread concern in the market, which is an important focus of concern that is, securities firms enter bankruptcy proceedings how the interests of its investors are effectively protected. Dapeng Securities Depositories current column with the liquidation and bankruptcy application examples of work to introduce the process of the securities company goes bankrupt the protection of the rights of investors.
Compared with the general corporate bankruptcy, securities companies declare bankruptcy, it is relatively complex, it is not only the immediate interests of the company's employees, but also involves a large number of the interests of investors, this part of the group number, widely distributed, the corresponding bankruptcy apply for a job there are certain more difficult. Dapeng Securities of major illegal activities exposed, the China Securities Regulatory Commission in making cancellation of his securities business license and order the closure decision, the commission other securities institutions to host its brokerage business, in order to protect customer's normal trading Dapeng Securities and legitimate rights and interests of At the same time other intermediary institutions and organizations entrust the establishment of a liquidation group, under the existing laws and policies within the framework of carrying out a series aimed at protecting the legitimate rights and interests of the former Eagle Securities client work.
First, customer transactions and personal claims settlement funds to purchase method to compensate. The liquidation group who meet "individual claims and customer securities transactions settlement funds to purchase opinions" under the settlement of customer transactions to make up the funding gap has been in full, and has the relevant local authorities to confirm the transfer of personal claims registration materials, for the screening has been completed to confirm the individual claims, acquisition programs, acquisition of funds has been implemented, problems that may arise with a clear plan. This is to protect the rights of investors is an important measure, the national investor protection arrangements made to avoid the investors are facing bankruptcy due to loss of Dapeng Securities.
Secondly, Dapeng Securities and the securities the disposition of assets, smooth transfer of its brokerage customers to ensure customer's normal trading brokerage business is not closed due to bankruptcy of Eagle Securities affected. Dapeng Securities Clearing Group securities assets to take an open, fair and impartial manner disposed of market transactions, at a reasonable valuation based on an open manner with the transfer of securities assets, through an open inquiry, open assessment, identifying a the final transferee, the transfer price as the Eagle Securities bankruptcy liquidation property. Accepted bankruptcy, customer securities transactions settlement funds, third-party depository and clearing customer transactions to make up the funding gap has been completed, securities asset class has been completely taken over by the transferee, both to prepare the conditions for the bankruptcy proceedings, but also on the Dapeng Securities clients made a safe, secure placement.
During administrative liquidation, the liquidation group Mirs an account securities clearance and recovery of assets, work, conducted a comprehensive audit of accounts receivable creditor's rights to take a variety of ways to recover their claims, clean-up of foreign investment and associated companies, cleaning up all brokerage customers, with the inspection, project and so on. During the administrative disposition of assets other than securities asset classes, in addition to easy impairment of assets by public, auction, market-oriented principle of disposal of things, are not been disposed of. At present, all books of account have been cleared completely transferred to the court. The completion of these tasks in Dapeng securities to investors concerned about the assets and deal with issues such as claims and liabilities has been a responsible response, but also for the people's courts to hear bankruptcy cases Dapeng Securities and created the conditions.
Bankruptcy liquidation is the disposal of high-risk securities firm one of the ways, in this process, the national regulatory authorities and the judiciary has always been the protection of the rights of investors and maintain the order of normal trading on the stock market an important position, Mirs securities in a year Multi-managed liquidation process, the local government, judicial, regulatory authorities, the measures taken by the liquidation group, are closely around the rights of investors to protect and maintain the market stability of the applicants, it can be said, bankruptcy is a liquidation insolvent institution securities laws. China's current financial institutions have yet to enact a special bankruptcy law, bankruptcy is different from general business legal issues have yet to be a special study, Dapeng Securities bankrupt attempt to financial institutions in insolvency legislation, which will provide for future success stories, the investor protection measures can already be reflected at the legislative level.
And the general bankruptcy the same, Dapeng Securities declared bankrupt before the liquidation group has made proper arrangements for workers. According to the liquidation group in place to protect the legitimate interests of employees, people with the business go, the principle of giving priority to employment, most new jobs have been employed. Dapeng Securities declared bankrupt, the local government will continue to follow the working mechanisms that have been identified and work program respond to emergencies that may occur, continue to uphold the Dapeng Securities into bankruptcy after the social stability. (China Securities Investor Protection Corporation feed)
