本國銀行國內聯合貸款逾期催理策略之研究

DEFAULT COLLECTION STRATEGIES OF DOMESTIC BANK SYNDICATE

陳華宗(CHEN, HUA-TSUNG)

指導教授 ： 古永嘉

國立臺北大學/商學院/國際財務金融碩士在職專班/碩士(2010年)

摘要

近年來隨著企業資本密集化、國際化，以及國內金融市場自由化、風險分散化的演進，國內聯合貸款業務已大幅興起，然而對於聯合貸款違約案件，應採取之催理模式及策略，仍鮮少有系統性之介紹與研究。據此，為了探討聯合貸款逾期後，針對其特性並導入晚近資產管理之觀念，本研究以2000年以來，國內所發生較重大之聯貸逾期案件，包括嘉○○公司、月○公司及雅○公司等實務個案，探討下列主題：
一、 探討聯貸逾期後，債權銀行如何採取適當策略，以減輕損失，早日收回債權。
二、 經由個案研究，分析聯貸逾放原因、催理策略之優缺點及可行性，以利聯貸銀行團訂定催理策略。
三、 提出聯貸訂約前，對借款公司日後違約催理，需要加強釐清注意事項。
研究結果發現：
一、 國內聯貸逾期後如有第三者或其他財團願意介入者，可考量以增資、債務協商或以債作股之一般催理程序辦理，以協助借款公司恢復正常營運，否則應把握第一黃金時間，成功說服借款公司或保證人早日清償本項借款。
二、 各項催理策略之優缺點及可行性，亦因借款公司之財力、擔保品及產業前景，而有所不同，採取一般催理程序應係上策，不得已時才採取法定程序拍賣資產、債權或破產清算。
三、 有關聯貸後半段債權違約催理，如表決權之行使，債權出售予非金融業，及自益抵銷問題，應在聯貸簽約前，訂定較具有彈性之方案，以免影響到催理時機及保障債權。
關鍵詞：聯合貸款、催理策略、一般逾期放款發生原因、聯合貸款逾期

關鍵字

聯合貸款、催理策略、一般逾期放款發生原因、聯合貸款逾期

並列摘要

With companies becoming more globalized and capital-intensive, together with a more liberal and risk-diversified domestic capital market, domestic syndication has emerged as a main stream in past few years. However, we still see very few systematic introductions and in-depth researches on the framework and strategy of domestic syndication default collection. Regarding the various distinguishing quality of syndication default, we incorporated asset management concept to elaborate on the following topics, using recent major syndication defaults as examples.
1. Steps and strategies to take for creditor banks to alleviate loss and collect debt obligation after syndication default
2. Through case studies, we will breakdown the reasons causing default, pros and cons of different collection strategies and their feasibility
3. Listed items to be clarified regarding potential violation urges the principle before finalizing syndication terms

The conclusions are as follows:
1. If there is any third party or consortium would like to step in after the default of a syndication loan, we may choose normal collection procedure, capital raising, negotiation, or debt-equity swap to help borrower back to its regular operations. Otherwise we might seize the key chance of convincing the borrower or guarantor to repay debts as soon as possible.
2. The pros and the cons and the feasibilities of each collection strategy also vary with the financial strength, collateral, and the industry outlook of the borrower. It is still a better solution to adopt the usual collection process than the legal procedure of asset and loan auction, or bankruptcy clearing.
3. In order not to affect the timing of collection and debt assurance, we might set up more flexible plans about the latter part of the collection regarding syndication default, such as the exercise of voting right, sale of debt to non-financial business, and offsets the question from the profit, before we agree on the syndication terms.

Keywords：syndication, urges the principle strategy, reason of loan default, syndication default

並列關鍵字

syndication, urges the principle strategy, reason of loan default, syndication default

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