Trustee’s Obligation In Passive Management Trust

In China’s business trust,the trust company as the trustee can manage the trust property to meet an important premise,that is,the trustee based on trust.The investment,management,application,liquidation and distribution of the trust property managed by the trustee are based on the provisions of China’s trust law,and the trust investment projects must also be based on scientific and effective management.However,due to the influence of many factors,the actual manager of trust projects in China is not the entrusted trust company,but the trustor or other third party.As the trustee,the trust company can only passively manage the trust projects according to the instructions of the trustor.This kind of passive managed trust,which only plays the role of investment and financing channel of the actual controlling party of the trust project,has no clear provisions in China’s trust law.In addition,the current trust law lags behind the relevant provisions on the obligations of the trustee,which leads to many loopholes in the supervision of the trust industry to some extent.When the risk of passive management trust project breaks out,the definition of the fiduciary obligation and the bearing of the responsibility can easily cause disputes among the parties.Under normal circumstances,the dispute focus on the determination of passive management trust and the obligation of passive management trust trustee.Passive management class because there is a trust business,in addition to the name on the trustee of the trust affairs management,in practice,and manages the trust project client or other third party,the trustee in real cases,can actually perform obligation is limited to the review of the trust project legal compliance and daily transaction management,and actively managed trust compared with unique risk responsibility content,therefore,to clarify such trust business each participation main body power and responsibility relations appear extremely necessary.In addition to the introduction and conclusion,the text is divided into four parts:The first part is the introduction of passive managed trust and its fiduciary obligations in China.By introducing the connotation,characteristics and status quo of passive managed trust,the main content of the fiduciary obligations of passive managed trust and the realistic particularity of the obligation performance.The second part is the judgment of the fiduciary duty of passive management trust in China’s judicial practice,and the case of qiushi college v cic trust mentioned in the introduction is analyzed in detail to reflect the problems of the fiduciary duty of passive management trust in China.The third part elaborates the existing problems of the trustee’s obligation of the passive management trust in China,and analyzes the lag of the trustee’s no-fault liability of the passive management trust and the conflict between the inferior law and the superior law.The fourth part is the suggestion of perfecting the fiduciary duty of passive management trust,combining with the beneficial experience of foreign countries with advanced trust law and based on the actual situation of our country,it puts forward the Suggestions from the macro perspective of legislative modification and the micro perspective of contract constraint.