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Comfort letters in the Chinese legal framework effectiveness analysis

Author: WangLianZhu
Tutor: GuanXiaoFeng
School: China University of Political Science
Course: Civil and Commercial Law
Keywords: Letters of comfort Comfort letter Sponsorship letter The effectiveness of Enforceable
CLC: D926
Type: Master's thesis
Year: 2008
Downloads: 37
Quote: 2
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Abstract

Conducted a comprehensive study on the effectiveness of a comfort letter issued in the international economic activities. The first chapter described the basic content of comfort letters. The first concept of a comfort letter to be described, that is a comfort letter is usually expressed support for the letter of the financing by the parent company for its subsidiaries or the government of their respective public bodies issued to the lender. Comfort letters is usually an alternative form of the parent company or the government is unwilling or restricted by law can not assume security responsibility under the traditional view that the issuance of comfort letters only moral responsibility. Then in this chapter traces the origin of a comfort letter from its origins to explore the creation of the true meaning of comfort letters said, then usually the main content of comfort letters were introduced. Second chapter deals with the legal practice of the comfort letter in today's world's major countries, through a series of cases and comparative analysis focuses on effectiveness identified the UK, Australia, Germany, Italy and France and other countries courts at all levels of comfort letters main ideas, although letters of comfort in its creation is not liable, but the moral responsibility judgment, but the jurisprudence of these countries found a comfort letter out letter by letter liable for cases on the rise, while A Comparative Study of the effectiveness of the comfort letter, summed up the essence of comfort letters as a business document, and other countries, some common aspects of effectiveness identified. At the end of this chapter, a comfort letter from the moral responsibility to be liable for the historical evolution, the author, the reasons behind the deep levels of analysis. Third chapter discusses the letters of comfort in China's judicial practice, including comfort letters litigation and the Supreme People's Court of Foshan People's Government of Guangdong Province Higher People's Court involved in the trial of the Guangdong International Trust and Investment Corporation bankruptcy liquidation v. Bank of Communications Hong Kong Branch line warranty disputes involving letters of comfort. Guangdong Province Higher People's Court that the letter of comfort involved in the bankruptcy liquidation of Guangdong International Trust and Investment Corporation, a letter only a moral obligation because they do not have guaranteed the elements of the Chinese law, so do not assume security responsibility. The Supreme People's Court to determine whether the letter constitutes a guarantee should be considered out of letter background, letter names and letter of the wording used, the most important is to examine the content of a comfort letter with the meaning of the guarantee of our legal sense, said. The fourth chapter discusses the study comfort letter in the Chinese legal framework, the effectiveness of necessity, and then analyze the applicable law and jurisdiction, comfort letters above detail of comfort letters by our courts under the jurisdiction and law for the effectiveness of the applicable law, it should have. I think the judge the comfort letter focuses on the meaning of the parties said, as its intention to comply with Chinese law guarantees the elements, constitute the external guarantees, but because of China's current foreign exchange management system of the external guarantees have not been registered and approved attributed invalid. If the parties in the comfort letter not guaranteed by China and France on the meaning of that, the only moral responsibility.

Comfort letters in the Chinese legal framework effectiveness analysis

Abstract

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