A court of China requires financial intermediaries to bear the losses of losses caused by the losses caused by breach of contract bonds to investors, and seeking judicial help to recover funds to achieve another major victory.
According to Bloomberg, the verdict of the Beijing Financial Court on Saturday (December 31) shows that the unique underwriter, audit institution and audit institution and audit institution and audit institution and audit institutions of Dalian Machine Tool GroupLegal consultants have not fully conducted due diligence.The court determined that the behavior of the three parties constituted a false statement, and a total of 20%of the liability for compensation should be assumed.
The verdict of the Beijing Financial Court showed that after the Dalian Machine Tool Group Bonds constituted a default in November 2016, a certain asset management company bought all the case -related bonds at a half price.The asset management company later proposed that the false statement of the disclosure document involved in the case is the root cause of the investment loss. Financial intermediaries should bear the liability for compensation.
The Beijing Financial Court emphasized that the orderly resolution of credit risk is "related to national financial security and social stability."However, the court also emphasized that institutional investors have fulfilled their obligations with prudent notes and bear their responsibilities during decision -making.
This judgment marks another step in China in strengthening the risk of defaulting in the domestic bond market supervision and the protection of investors' rights and interests.In the past few years, China has warned and punished some companies' improper behavior in the domestic market.In 2021, the scale of China's offshore bond default reached a record high, but as the debt arrears turned to offshore bonds, it decreased by about three -quarters last year.
