On The Secured Corporate Bonds Of Trust System

In the legal structure of the secured corporate bond trustee, the trustee is the bondholders'representative. With a trust indenture, the legal title of the property is placed in one or more trustees, to secure the repayment of debt. Since the large number of investors were often geographically scattered, the use of trustee can secure some assets in favor of creditors and allow execution of the debt if the triggering events occur. In a sense, the secured corporate bond trustee came into being more for a practical necessity. Especially in China, trust has been clearly defined only for 2 or 3 years. Consequently, it is helpful to introduce legal system that works well in western countries to China. Whereas, this thesis produces a brief introduction and analysis of the similar legal instruments widely spread in the United States and Japan as well. After illustrating the evolution of China's corporate bond market and its trust industry, the author emphasizes the necessity to establish the secured corporate bond trustee in China and further discusses those legal issues in the application of the secured corporate bond trustee.Firstly,this article generalizes the basic legal concept of the secured corporate bond trustee and explains its nature and character.Secondly,this article describes its origin and evolution in other respective countries such as in USA and Japan.The purpose is to illuminate the changing trend in such countries by comparison ,and provide some use for conference.Thirdly,the article combines the analysis of the management of corporate bond and the trust,focuses on the social function of the secured corporate bond trustee,as it how to make its role in protecting the rights of corporate bond debtors and to bring into play its advantages comforming to the developing trend of modern trust.Followed by this ,the article analyze the law principle of it,and make some explorations of relating law issues if the secured corporate bond trustee is adopted in China,such as the nature of trust agreement,the defenition of rights and obligations of trustee and beneficiary,the legal status of parties,hypothec upon properties,issue procedure of corporate bond.Lastly,it is an analysis based on the history and the status quo of China'corporate bond market and its trust industry,which shows its practical meaning to introduce the secured corporate bond trustee to China.