An Analysis Of The Case Of Dispute Between China Merchants Bank Shenzhen Branch And Hunan Provincial Highway Administration On Buy-back Commitiments Guarantee

Since 2008,Chinese local government’implicit debts have been in a high level,which includes constructive debts and financing secured debts supported by policy.In order to avoid the further enlargement of the local governments’ debt scale,the state council issued the（2014）Number 43 document,as a result of which,many local governments presented many commitment letters as endorsement for paying debts.What’s more,with the issuing of（2017）Number 50 document--fiscal intervention,the governmental commitment letters came to a halt,bringing the new problem that local government withdrew all the commitments letters due to the debts and policy pressure.Thus studies about the property and efficacy of those governmental commitment letters emerged.The dispute over guarantee contract between China Merchants Bank Shenzhen Branch and High-Speed Management Administration of Hunan Province was the lawsuit case caused by the presenting of the commitment letters of that period.And this case has three main argument points: First,does this dispute belong to civil dispute of two equal subjects? Second,what is the nature of the commitment letters?Third,whether the High-Speed Management Administration of Hunan Province and its platform company-the parent company of Hunan High-Speed Road caused confusion in legal personality.The focus of the first argument point is to analyze whether the content of commitment letters belong to civil dispute type.The focus of the second argument point is to analyze the category of the commitment letters: single party’s commitment,debts undertaking or guaranting contract.The focus of the third argument point is to analyze whether the personality-denying system is applicable between the legal men of the public institutes and ordinary companies.By analyzing the above argument points,the responsibility undertaking issue can be basically determined.And this case has referential value for the following lawsuits that caused by governmental letters.Besides,on the basis of estimating the nature of governmental commitment letters the executive force in practice did not be described systematically after the nature is confirmed.Therefore,in the last chapter of this paper,emphasis was attached to analyze the executive force of the governmental commitment letters.By analyzing the executive force of the non-guaranting governmental commitment letters,guaranting governmental letters and the executive force that integrates fiscal spending into government’s budgetary commitment letters,the conclusion can be drawn: the executive force of the non-guaranting governmental commitment letters could’t be insured,and the commitment letters that didn’t be included in the the government fiscal budget has low executive force.