論運用爭端解決程序以處理中國國際專案融資中之獨特法律風險

Using Dispute Resolution Mechanisms in the Management of Legal Risk Associated with International Project Finance in Mainland China

凱福(Kyle Fox)

指導教授 ： 羅昌發

國立臺灣大學/法律學院/法律學研究所/碩士(2009年)

https://doi.org/10.6342/NTU.2009.01693

摘要

中國開放之後，中國及外國的公司以及中國的政府機關以專案融資進行各種企業的專案。應用專案融資的目標之一是將專案總共包含的風險分配給專案的各個參與者，以理性的分配降低專案總共包含的風險。專案的地主管轄的法律包含必須被分配的基本法律風險，也包含專案參與者必須用於分配專案風險的法律工具。這些法律工具的效力對專案融資專案的可行性非常重要。各個法律管轄區擁有不同的法律工具、並且法律管轄區內的法律工具跟隨法律的發展就隨著時間變化。
本論文研究國際專案融資的現代理論及實踐，並且識別法律系統爲了支持專案融資需要的要素。論文特別探討涉及專案融資的風險的因素，也探討專案融資分配以及降低風險的一些獨特措施。
法律風險是專案融資風險的重要部份，不過到目前為止學者還不完全瞭解這種風險。本論文分析法律風險之概念，也研究有些關於法律風險的定義、來源、與損失的因果關係及管理的最近理論以及想法。
對現代國際專案融資及法律風險概念更深的瞭解為基礎，論文繼續集中於中國的國際專案融資的法律。關於1990年代至21世紀最初十年的中國專案融資專案的研究表現創新的交易及關係架構如何用於進行專案融資，即使法律環境並不設計為對付這種商業活動。最近中央法律之研究也表現中國的法系儘快響應於專案融資之需要，雖然也有限度。
本研究也特別關注中國的國際專案融資中的爭端解決。專案融資複雜，包含參與者關係之精細網。參與者有的利益是共同利益，有的利益是競爭利益。並且位於中國的國際專案融資包含中國當地的政府機關、商人及公司合作與外國的公司及商人一起進行高風險且大型的專案，因而參與者之間當然會發生爭端。本論文著重於中國的國際專案融資專案的爭端管理制度的必要性，並評估和解、調解、仲裁及訴訟的適當使用的策略。

關鍵字

爭端解決程序 ； 專案融資 ； 法律風險 ； 中國大陸法系

並列摘要

Since Deng Xiaoping’s Open Door Policy reforms were implemented in mainland China, Chinese and foreign businesses as well as Chinese government bodies have used a variety of project finance methods to carry out different types of projects in China. Project finance is a way of organizing a particular venture which aims to allow participants to apportion project risk amongst project participants, and through rational distribution of this risk, reduce the total level of risk faced by the project. The law of any given project’s host jurisdiction will present primary legal risks which need to be apportioned amongst participants, but just as importantly, provides the legal tools which participants use to apportion all project risks (including legal risks). The effectiveness of these legal tools are integral to the success of any given project finance venture. These legal tools are different in each jurisdiction, and as the law of the jurisdiction develops over time, the legal tools available to project finance participants also change.
This thesis examines the theory and practice of international project finance and isolates what is required of a legal system in order to support project finance. Particular attention is paid to the risk factors associated with project finance and some of the ways in which projects are structured to apportion and reduce these risks.
Legal risk is an important factor in project risk but it is a type of risk which is not widely understood. This thesis examines the concept of legal risk and some of the current ideas regarding its definition, sources, evaluation and management.
Based on a firmer understanding of modern international project finance and conceptions of legal risk, attention is turned to the law and practice of project finance in mainland China. An assessment of projects throughout the 1990’s and the first decade of the 21st century shows how innovative structures have been used to carry out project finance in a legal environment which was never initially designed to cope with this type of commercial activity. A study of a number of new laws at the national level also reveals that the legal system is quickly responding to the needs of project finance, albeit with limitations.
This study would not be complete without special attention being paid to dispute resolution in Chinese project finance. Project finance is complex, it involves an intricate web of relationships between different participants with some common, and some competing interests. International project finance in China involves foreign businesses and businesspeople, Chinese businesses and businesspeople and Chinese government bodies in high-stakes, large-scale projects, and as such involves a huge potential for disputes. This thesis stresses the need for a comprehensive strategy regarding dispute management in China based international projects and evaluates some of the available strategies involving appropriate use of negotiation, mediation, arbitration and litigation.

並列關鍵字

Dispute Resolution ； Project Finance ； Mainland Chinese Legal System ； China

參考文獻

Hoffman, Scott L. The Law and Business of International Project Finance, Kluwer Law International, 2001

Li Shoushuang, The Legal Environment and Risks for Foreign Investment in China, Springer-Verlag Berlin Heidelberg, 2007

Liang, Bin, The Changing Chinese Legal System, 1978-Present: Centralization of Power and Rationalization of the Legal System, Routledge; Taylor and Francis 2008

McCormick, Roger, Legal Risk in the Financial Markets, Oxford University Press, 2006.

Norton, Joseph J., Li, C.J. and Huang Yangxin (eds.), Financial Regulation in the Greater China Area: Mainland China, Taiwan and Hong Kong SAR, Kluwer International Law, 2000