Recently, all kinds of asset management products frequently defaulted, at the end of July, the four wealth management companies under the Zhongzhi system of constant wealth, Star Lake wealth, Datang wealth and Goldman Sachs wealth suspended all the products of the payment, in early September, Zhongrong Trust announcement announced that some of the trust products delayed payment; at the end of August, the real controller of the Shanghai Hehe system is out of contact, in early September, the Hehe system issued an announcement that some of its notes asset management products and fixed financing products payment Delayed. Under the current economic downturn, the scheduled payment of various capital management products is facing a major test, and defaults continue to occur.
Beijing King&Capital Law Firm received investors of various types of defaulted products, the defaulted products are mainly: "Pooled Fund Trust Program", "Directed Financing Instrument", "Bills Financing Plan " and so on, the amount held by individual investors from 3 million to about 100 million.
King&Capital attorneys Li Jing and Wang Li successfully represented the case of "Default of Shanghai Hutchison's management products", in which the investor held a financing plan issued by XX Company, with Shanghai Hutchison acting as the manager and underwriter, and listed and registered in XX Asset Service Company Limited, with arbitration as the jurisdiction agreed in the Subscription Agreement for the Financing Plan. After the lawyer's representation, the lawyer quickly collected the investor's custody product contract, subscription amount confirmation, subscription fund bank payment certificate, and completed the preparation of arbitration application and preservation materials within two days, and submitted the arbitration application and property preservation application to XX Arbitration Commission.
In the future, defaults of custody products will continue to occur, therefore, custody product liability disputes in the future will become the focus of commercial arbitration, litigation rights, in addition to the agreement to arbitration, does not exclude the court to adopt the principle of centralized jurisdiction similar to the "Evergrande" case.
King&Capital lawyers suggest that investors encounter financial products default, should be as soon as possible to arbitration or litigation, through litigation or arbitration to confirm the rights of investors to hold the right to income from financial products into the issuer, the manager of the claim. Because the right to income of financial products is an uncertain right, the income comes from the profit of the underlying assets, if the underlying assets lose money, the principal and income of the financial products will also lose money, and the defaulted products are all the "capital pool" products of various organizations, which are the managers who continue to raise funds through rolling issuance and sale of financial products. The funds raised from multiple financial products of different types and durations form a "capital pool", and the financial products operate on multiple project assets in a pooled manner, with no one-to-one corresponding underlying assets, and originally rely on the investment principal of subsequent investors to redeem the principal and income of previous investors, and once there is a default, no one will invest and existing investors will definitely lose their money. Once a default occurs, no one will invest, and existing investors will not be able to recover their principal and income. However, through litigation and arbitration, the product manager and issuer can be held liable for the principal and income of the investors by the product manager and issuer, and an investment income right can be transformed into a claim.
