substantive consolidation meaning in English
实质性合并
Examples
- " true sale " requires that all rights , risks or control rights be transferred altogether to spv from the originator , in the process of which due attention should be paid to avoid the occurrence of the revocable transaction risk , the recharacterisation risk and the commingling risk . the constructing of spv featuring " bankruptcy - remote " requires that efforts should be made to isolate spv from both the risk of bankruptcy of itself and that of the originator , and prevent the occurrence of " substantive consolidation " , which re - categorizes the transferred assets into bankrupt assets , while disregarding the form of spv being company , partnership or trust
资产的“真实销售” ，要求将资产池的权益和风险或控制权一并从发起人处转移给spv ，并注意防范可撤销风险、重新定性风险、资产混合风险的发生： “破产隔离” spv的组建，要求无论spv采用公司、合伙或者信托形式，都要注意隔离自身破产风险和发起人破产风险，防止发生“实体合并” ，使已转移的资产重新归并到发起人的破产财产中。 - 3 ) both the parent corporation and its subsidiary corporations are insolvent . by introducing the substantive consolidation doctrine , firstly , the assets and debts of the parent corporation and its subsidiary corporations are to be calculated together , secondly , the creditors " right and security relationship between them should be subtracted from the amount in the fi
鉴于我国企业集团经济一体化现象的普遍存在，因此在母子公司都破产时，可考虑引进“实质合并原则”的做法，原则上把破产母子公司的资产和债务合并计算并去除掉彼此间的债权和担保关系，然后把组合后的破产财产，依债权比例分配给集团债权人。