29
2022-08
In order to standardize the identification and management of Buddhist clergy in our province, the Shandong Buddhist Association has carried out the work of revising the implementation rules for the identification and management of Buddhist clergy in Shandong Province (for trial implementation). Under the policy guidance of the policy and regulation department and the religious department of the Shandong ethnic and religious Commission, the detailed rules for implementation (for trial implementation) (draft for soliciting opinions) has been formed. The Shandong Buddhist Association issued a work notice, requiring the Buddhist associations of all cities to carefully study the content of the detailed rules and put forward specific amendments and suggestions. On the morning of August 26, the Jinan Buddhist Association held a consultation meeting on the implementation rules for the identification and Management of Buddhist staff in Shandong Province (for trial implementation) (draft for soliciting opinions). A total of about 30 members of the Jinan Buddhist Association, responsible persons of Buddhist places in Jinan, Buddhist teachers and perennial legal advisers attended the discussion. The staff of the Shandong Buddhist Association attended the meeting, and relevant personnel from the Liaison Center of the Shandong Provincial Civil Affairs Committee and the Religious Department of the United Front Work Department of the Jinan Municipal Committee of the Communist Party of China attended the meeting as nonvoting delegates. The symposium was presided over by Master Hongan, vice president and secretary-general of the Provincial Buddhist Association and president of the Jinan Buddhist Association. Master Hongan gave a relevant explanation on the work of revising the "Implementation Rules for the Identification and Management of Buddhist Teaching Staff in Shandong Province (Trial)", and put forward relevant opinions on the "Implementation Rules (Trial) (Draft for Solicitation of Comments)". Claim. Participants carefully read the contents of the "Implementation Rules (Trial)" and put forward some opinions and suggestions on the resumes, academic qualifications, marriage certification materials, and household registration information. Wang Yang Baixue, perennial legal adviser of Jinan Buddhist Association and lawyer of Zhongcheng Qingtai Jinan Institute, explained in detail some professional terms, classification of illegal and criminal acts, standardization of relevant certification materials and other provisions in the regulations from five aspects of seriousness, practicality, comprehensiveness, scientificity and legality, and put forward suggestions for revision of some contents, it has been fully recognized and praised by the Liaison Center of the Shandong Provincial Civil Affairs Commission, the Religious Department of the United Front Work Department of the Jinan Municipal Committee of the Communist Party of China, the Shandong Buddhist Association, and the Jinan Buddhist Association.
2022-08-29
29
2022-08
On August 26, the construction project cost appraisal exchange meeting of China Construction Eighth Bureau was held in Jinan. Xie Shengmei, general counsel and general manager of the contract and legal department of China Construction Eighth Bureau, presided over the meeting. A total of more than 400 people attended the meeting, including general counsel, contract and legal department manager, legal director of third-level units, case business backbone and settlement management personnel. Lawyer Li Heng, deputy director, senior partner and president of the Law Research Institute of Zhongcheng Qingtai Jinan Institute, was invited to give a lecture on practical experience and skills of construction project cost appraisal at the meeting. Lawyer Li Heng introduced the case of project cost appraisal, combined with specific laws and regulations and construction project cost appraisal norms, and gave a detailed explanation of the practical problems existing in the six aspects of appraisal subject qualification, appraisal procedure, appraisal method, appraisal opinion, and remedy way of appraisal opinion dispute, which has strong replicability and practical guidance and was well received by the participants.
2022-08-29
27
2022-08
Dynamic | Zhongcheng Qingtai "Guanghe Xingchen" Youth Training Camp Phase I Officially Opens
On August 26, 2022, the first phase of Zhongcheng Qingtai's "Guanghe Xingchen" youth training camp officially opened in Dezhou, Shandong Province. More than 50 outstanding young lawyers from 19 branches of Zhongcheng Qingtai gathered in Qihe, the "Yellow River Water Village", to start a two-day course. Han Honggang, director of Zhongcheng Qingtai General Office, Du Wentang, director of Jinan Administrative Committee, Ai Xiansong, director of Dezhou Institute, Gao Chang, director of West Coast Institute, and Yu Cuilan, member of Jinan Administrative Committee, attended the opening ceremony. First of all, Ai Xiansong, director of Zhongcheng Qingtai Dezhou Institute, delivered a welcome speech, saying that Zhongcheng Qingtai young lawyers should "have faith in their hearts", "have the overall situation in their hearts" and "serve with feelings". This was followed by the appearance of the class committee and the group. Through the self-recommend of the students in the early stage, the first phase of the youth training camp completed the formation of the class committee and the distribution of the group: monitor Qu Mengyu, deputy monitor Pan Yang, study member zhaowei, publicity member Zang Fa Hong, sports member Chen Huaiyuan, and life member liyao. In the group style display session, the students of the youth training camp were divided into six groups, namely, "one group of star Yao mage team", "two groups of brave team", "three groups said the right team", "four groups of new youth team", "five groups of group formation" and "six groups of zhonghe yixin team". each group took the stage to introduce themselves and cheer for themselves. Finally, Director Du Wentang, Director of the Administrative Committee of Zhongcheng Qingtai Jinan Institute, presented the flag to Qu Mengyu, the monitor of the first phase of the "Guanghe Xingchen" youth training camp. After the opening ceremony, the students entered the practical course of legal due diligence investigation. Director Han Honggang, Director Du Wentang, Director Ai Xiansong, Director Gao Chang and Director Yu Cuilan, as clients, listened to the reports of various groups on the working methods and plans, work priorities and legal due diligence reports on the special project of legal due diligence for the proposed equity acquisition of a wholly state-owned company, and put forward relevant questions on the project, on-site answers, and finally make a score. In the evening, more than 50 young lawyer students gathered at the "Young Lawyer Development Forum" to discuss and give speeches from three aspects: "Young Lawyer Career Planning", "Young Lawyer Professional Promotion", and "Young Lawyer Business Development. Finally, Director Du Wentang made a concluding speech, hoping that every young lawyer can gain and grow through "Guanghe Xingchen" and achieve his own glory on the platform of Zhongcheng Qingtai.
2022-08-27
27
2022-08
On the morning of August 25, 2022, the expert demonstration meeting on the revision of the "two regulations" organized by the Provincial Department of Justice was held in Jinan. The meeting invited the staff of relevant departments directly under the provincial government, the staff of the Municipal Bureau of justice, university professors, Party school professors and lawyers to attend. Lawyer Liu Pengfei of our institute was invited to attend the demonstration meeting. At the meeting, the leaders of the Provincial Department of Justice introduced the revision of the "Shandong Province Administrative Law Enforcement Personnel Qualification Certification and Administrative Law Enforcement Certificate Management Measures" and the "Shandong Province Administrative Punishment Hearing Procedure Implementation Measures. After preliminary investigation and demonstration, soliciting opinions, and repeated revision of the "two regulations", a revised draft has been formed and submitted to this expert demonstration meeting for discussion. The experts attending the meeting put forward opinions and suggestions on the draft of the "two regulations" from their respective fields of work and research. Lawyer Liu Pengfei also proposed amendments to the draft based on his practical experience in handling administrative litigation cases and previous work experience in government departments.
2022-08-27
25
2022-08
On the evening of August 24, 2022, the basketball team of Zhongcheng Qingtai Law Firm and the basketball team of Shandong Provincial Department of Finance kicked off a friendly match. In the spirit of "friendship first, competition second", the contestants of both sides sweat and communicate with each other. On the basketball court, everyone sweated like rain, fought hard, and carried forward a good team spirit and a good style of daring to fight. The players of both sides actively attacked and defended, tacit cooperation in tactical application, and the atmosphere on the scene became more and more enthusiastic. Every goal was accompanied by the cheers of the cheerleaders off the court, which fully achieved the goal of strengthening the body, boosting the spirit and enhancing friendship. Through this basketball match, the players of both sides put down the fatigue of work, conveyed their love for sports and life with passion and sweat, enjoyed the fun brought by basketball, and enriched the amateur cultural and sports life of the two units. It is hoped that the two teams will collide with new "sparks" in the communication in the future ". Zhongcheng Qingtai has been practicing the concept of "serious work and healthy life", carrying out various sports to enrich the amateur life of lawyers, and lawyers devote themselves to work with strong physique and full mental state.
2022-08-25
23
2022-08
From August 19 to 20, the 7th Shandong Law Firm Construction Forum was held in Jinan. The forum was hosted by Shandong Lawyers Association, organized by Shandong Lawyers Association Law Firm Management and Steering Committee, Jinan Lawyers Association, and co-organized by Shandong Zhongcheng Qingtai Law Firm. Based on the current economic and social development situation at home and abroad and the current situation of the legal service industry, the forum, with the theme of "keeping and changing small and medium-sized law firms in the post-epidemic era", was divided into two sections: "Round Table Night Talk + Main Forum". More than 20 experts, scholars and law firm directors were invited to share the development situation of the lawyer industry from three units: industry observation, law firm operation and professional upgrading.
2022-08-23
23
2022-08
From August 19 to 20, the 7th Shandong Law Firm Construction Forum was held in Jinan. The forum was hosted by Shandong Lawyers Association, organized by Shandong Lawyers Association Law Firm Management and Steering Committee, Jinan Lawyers Association, and co-organized by Shandong Zhongcheng Qingtai Law Firm. Based on the current economic and social development situation at home and abroad and the current situation of the legal service industry, the forum is divided into two sections: "Round Table Night Talk + Main Forum" with the theme of "Keeping and Changing Small and Medium-sized Law Firms in the Post-epidemic Era", inviting more than 20 experts, scholars and law firm directors from three modules: industry observation, law firm operation and professional upgrading, share the development of the lawyer industry situation, law firm management and operation, professional upgrade, team operation and other exciting content. The forum adopts a combination of online and offline methods. NetEase News, CCTV Frequency, iQiyi and other network platforms broadcast live simultaneously, and more than 100000 people watched it online. Geng Guoyu, president of Jinan Lawyers Association and director of Zhongcheng Qingtai Jinan Institute, shared the theme of "New Trends in the Development of Lawyers in the Double Cycle Background. Director Geng Guoyu said that the lawyer industry has the following trends in the future: to achieve regional coordination and service regional coordination, and to promote regional coordinated development from the perspective of the rule of law business environment; the development trend of industrialization, and is guided by demand to promote the industrialization of lawyers Or the development trend of industrialization; the trend of normalization of foreign-related services and the trend of digital development; law firms must grasp the trend and stand out from the changes. Meng Fanhu, a member of the Criminal Committee of the National Lawyers Association, the deputy director of the Criminal Committee of Shandong Lawyers Association, and the senior partner of Zhongcheng Qingtai Jinan Institute, participated in the special speech of "Discussion on the Construction of Criminal Specialization of Comprehensive Law Firms". Meng Fanhu, the director, combined with the development of Zhongcheng Qingtai Criminal Section, discussed the problem of the professional development of comprehensive law firms, from the perspective of law firm system support, creating professional leaders, focusing on talent selection, personalized labeling, normalization of business training, business cooperation and expansion, etc., it won unanimous praise from the guests.
2022-08-23
20
2022-08
On the morning of August 19, 2022, under the auspices of the People's Court of Dongming County, Shandong Province, CITIC Guoan Chemical Co., Ltd., Dongming CITIC Guoan Ruihua New Materials Co., Ltd., Dongming Aoke Fine Chemical Co., Ltd., Shandong Zhaobang Fine Chemical Co., Ltd., Dongming North China Petrochemical Sales Co., Ltd., Jiangsu CITIC Guoan New Materials Co., Ltd., Shanghai CITIC Guoan Chemical Co., Ltd., Shanghai Yunhui Supply Chain Co., Ltd., Shanghai Zhaobang Petrochemical Co., Ltd., Shanghai CITIC Guoan Chemical Technology R & D Co., Ltd., Shanghai Fangyaohui Real Estate Co., Ltd. and other 11 companies (hereinafter referred to as "CITIC Guoan Chemical Co., Ltd. and other 11 companies") merger and reorganization of the first creditor meeting was successfully held in an online manner. On March 15, 2022, Dongming County People's Court issued (2022) Lu 1728 Paoshen No. 1 Civil Ruling, ruling to accept Heze Shirong Trading Co., Ltd.'s application for reorganization of CITIC Guoan Chemical Co., Ltd., and on March 24, 2022 (2022) Lu 1728 Po No. 1 decision was issued, appointing Shandong Zhongcheng Qingtai (Jinan) Law Firm as the manager of CITIC Guoan Chemical Co., Ltd. On June 18, 2022, the Dongming County People's Court issued (2022) Lu 1728 Po No. 1 Civil Ruling, ruling on the substantive merger and reorganization of 11 companies including CITIC Guoan Chemical Co., Ltd., and issued (2022) Lu 1728 Po No. 1 decision, appointing the manager of CITIC Guoan Chemical Co., Ltd. as the manager of the substantive merger and reorganization of 11 companies including CITIC Guoan Chemical Co., Ltd. CITIC Guoan Chemical Co., Ltd. and other eleven companies involved in Shandong, Jiangsu, Shanghai three regions, the work area span, coupled with the impact of epidemic prevention and control, to the management of the work of great challenges. The accounts of the eleven companies are unclear, the first and second phases of the project are completely suspended, and the third phase of the project is under construction. Jiangsu Guoan Company is facing demolition due to environmental governance, and property verification is difficult. After the manager accepts the appointment, he quickly forms a team according to the characteristics of the project, formulates a detailed work plan and work plan, performs his duties diligently and efficiently, and fully performs the duties of the manager. Under the guidance of the court, the administrator coordinates the conflicts of interest of all parties in accordance with the law, actively resolves case disputes, properly handles historical issues, overcomes difficulties, and works together to advance the progress of the case. Representatives of administrators, audit institutions, evaluation institutions, debtor representatives, employee representatives, etc. attended the meeting on site, and creditors who have declared their claims attended the meeting through the National Enterprise Bankruptcy Reorganization Case Information Network. At the meeting, the manager made a "phased work report on the performance of duties" and "a report on submitting to the creditors' meeting to verify claims", the audit institution made a "work note on audit", and the evaluation institution made a "work note on evaluation". The manager's remuneration plan and property management plan were submitted to the creditors' meeting for voting, and the agenda of the meeting was successfully completed. The follow-up manager will continue to adhere to the principle of "according to law, standardization, efficiency and fairness", scrupulously perform their duties, overcome difficulties, actively carry out work under the guidance and supervision of the court, and strive to promote the smooth progress of the case.
2022-08-20
12
2022-08
Dynamic... Zhongcheng Qingtai Jinan held a part-time lawyer exchange meeting.
On August 11, Zhongcheng Qingtai (Jinan) Law Firm held a part-time lawyer exchange meeting. Geng Guoyu, director of Jinan Institute, Du Wentang, director of the Administrative Committee, He Zefeng, deputy director, Shi Guangbo, and Li Jian, chairman of the trade union, held discussions and exchanges with representatives of part-time lawyers. Part-time lawyers have high legal theory literacy, and law is a practical subject. Part-time lawyers are excellent subjects to realize the combination of legal theory and legal practice. Zhongcheng Qingtai law firm has always attached great importance to the unique role of part-time lawyers in the construction of law firms, in promoting economic development, safeguarding people's rights and interests, and in the process of national rule of law. The exchange activities were presided over by lawyer He Zefeng. Lawyer Du Wentang welcomed the part-time lawyers who attended the meeting. At the meeting, the part-time lawyers discussed their working experience in the law firm, the improvement of personal ability, the construction of resource platform and the future development of the law firm. Part-time lawyers have high legal theory literacy, not only play the basic function of preaching and teaching, but also engage in legal practice as a lawyer, and spread the spirit of the rule of law in the combination of legal theory and legal practice. Part-time lawyers said that they will use the law as a platform to devote themselves to the practice of the rule of law, give full play to their professional advantages, actively assume social responsibility, and contribute to the rule of law. The exchange meeting was presided over by He Zefeng, deputy director of Zhongcheng Qingtai Law Firm. Director Du Wentang welcomed the part-time lawyers present at the meeting and looked forward to the perfect combination of part-time lawyers in their own work and part-time lawyers' practice, contributing to the construction of law firms, the improvement of legal communities, the development of legal disciplines and the process of the rule of law in China. Shi Guangbo, deputy director of Zhongcheng Qingtai Law Firm, welcomed the suggestions put forward by part-time lawyers, responded and promised that the law firm would provide more platform support for the development of part-time lawyers and realize environmental empowerment, system empowerment, case source empowerment and brand empowerment. At present, the firm has provided relatively fixed service office space for part-time lawyers, implemented the partner assistant sharing system, and carried out team case source sharing cooperation, and eventually build and enhance part-time lawyer personal service brand. Wu Haiyang, deputy director of the Human Resources Executive Committee, Li Jian, chairman of the trade union, and Tian Wenhua, director of the office, respectively said that through a series of group building activities and auxiliary work, the sense of integration and belonging of part-time lawyers will be fully enhanced, and the best external environment and conditions will be created for the practice of part-time lawyers. Based on their colleges and their own situation, the part-time lawyers at the meeting sincerely expounded their ideas and suggestions from the aspects of working experience in the law firm, the improvement of personal ability, the construction of resource platform and the future development of the law firm, and said that they would take the law as a platform, devote themselves to the practice of the rule of law, give full play to their professional advantages, actively assume social responsibility and contribute to the process of the rule of law. At the end of the meeting, lawyer Geng Guoyu made a concluding speech: part-time lawyers are the precious wealth of the law firm and have made great contributions to the development of the law firm. I hope that the law firm and part-time lawyers can empower each other. The law firm can provide more resources and system support for part-time lawyers and enhance the sense of integration and participation of the law firm. Part-time lawyers also give full play to their solid legal theoretical foundation, enhance the professional development and academic accumulation, and seek common development. If you take advantage of the wisdom of all, you will be incompetent. With the strength of all; There is nothing invincible. Zhongcheng Qingtai (Jinan) Law Firm welcomes more excellent part-time lawyers to join, and jointly builds the part-time lawyer team into a characteristic brand of Zhongcheng Qingtai and a beautiful scenery line in the lawyer industry.
2022-08-12
10
2022-08
Viewpoint... Xinhua Trust Bankruptcy-Is the domestic family trust still worth entrusting?
On July 6, 2022, the CBRC published on its official website the Approval of the Bankruptcy of Xinhua Trust Co., Ltd., agreeing that Xinhua Trust would enter into bankruptcy proceedings in accordance with the law. On the same day, the Fifth Intermediate people's Court of Chongqing ruled to accept the bankruptcy liquidation application of Xinhua Trust Co., Ltd. The news of the bankruptcy of Xinhua Trust has attracted great attention in China's financial circles. Since the implementation of the Bankruptcy Law in 2007, Xinhua Trust as a trust company into bankruptcy proceedings is the first case, but in fact as early as July 2020, the CBRC in accordance with the law to implement the Xinhua Trust takeover. During this period, Xinhua Trust also openly recruited investors to participate in the restructuring, but until the expiration of the takeover period, Xinhua Trust has not found a suitable investor, and its eventual bankruptcy liquidation is not without warning. In 2018, the CBI clarified the definition of "family trust" for the first time with Trust "No. 37" and its functions in property planning, risk segregation, asset allocation, children's education, family governance, and public welfare (philanthropy) undertakings. Since then, the family trust business has ushered in a period of rapid development in China. Especially in recent years, as the global neo-crown epidemic continues to ferment, the international situation is unpredictable, and the long-term downward trend of economic development, more and more domestic high net worth families have begun to pay attention to the domestic family trust business, hoping to use trust tools to plan, protect and pass on family wealth. In the case of China's domestic family trust started late and the supporting system is not perfect, the news of Xinhua trust bankruptcy undoubtedly makes them have a huge crisis of trust in the safety of setting up family trust in China. This paper will discuss the security of setting up a family trust in China from a legal perspective, and how to avoid the transmission of the trustee (trust company)'s own risk to the family trust risk. How to protect the property safety of family trust in the 1. of our country's law. Many people think that the law of trust system in China is not perfect, and there is no legal protection for the establishment of family trust in China, which is a misunderstanding. China's "Trust Law" has been promulgated and implemented for more than 20 years, relevant administrative regulations, departmental rules and industry norms have been issued one after another, and the basic legal system of trust has been established. At present, China's legal level is how to protect the safety of trust property, mainly reflected in the following aspects: 1. Independence of trust property Modern trust originated from the "benefit system" in England, which is a unique legal system originated from the common law system. The property rights of the trust system are clearly different from the concept of property rights ("one property, one right") in the Civil Code, which places more emphasis on the separation of ownership and interests of property. The uniqueness of the trust system lies in the "independence of the trust property", that is, once the trust is established, the trust property becomes an independent property: it is neither the property of the principal, nor the inherent property of the trustee itself, nor the property of the beneficiary. Therefore, the most basic function of the trust is "risk isolation", the creditors of the principal, trustee and beneficiary parties can not claim to be paid off from the trust property, the trust property is completely independent of the main body of the profit and loss. 2. Limited nature of trust property management China's Trust Law and the Measures for the Administration of Trust Companies have made clear restrictions on the management of trust property by trustees (trust companies). After the settlor entrusts the property right to the trustee, the trustee must manage the trust property in the best interests of the beneficiary, and his right to manage the trust property is restricted by the law and the trust documents. Concentrated performance in the following areas: 3. Trust property may not be enforced. The Trust Law provides for the independence of trust property, and the creditors of the principal, trustee and beneficiary parties cannot claim settlement from the trust property, which means that the trust property is generally not enforceable by the judiciary. However, Article 17 of the Trust Law also provides for some exceptions in which judicial organs can enforce trust property, which can be summarized into four types: 1. The debts borne by the trust property before the trust is established; 2. The debts arising from the handling of trust affairs; 3. The tax burden borne by the trust property itself; 4. Other circumstances stipulated by law. The law also gives the principal, trustee or beneficiary the right to object to the people's court for the enforcement of trust property in violation of Article 17 of the Trust Law. Article 95 [Litigation preservation of trust property] of the Minutes of the National Court Conference on Civil and Commercial Trials further clarifies that the people's court shall strictly examine the parties' application for preservation measures against the trust property and the beneficiary's right to income, and shall not be permitted for non-statutory reasons. If the preservation measures are not in conformity with the provisions of the law and have been taken, the preservation measures shall be lifted immediately. 4. Bankruptcy Protection First, based on the independence of the trust property, the trust property is not the inherent property of the trust company and does not fall within the scope of the trust company's property, so the property of the family trust will not be included in the scope of the bankruptcy estate. Second, a family trust will not be terminated by the bankruptcy of the trust company. Third, after the bankruptcy of the trust company, it may select a new trustee in accordance with the provisions of the law or the trust documents to handle the transfer of trust property and trust affairs. 2. how to avoid trustee (trust company) risk transmission to family trust risk. Although the Trust Act provides for the protection of trust property, it is not foolproof. After the new capital management rules in 2018, breaking rigid payments has become inevitable, and the trust industry is at a key node to accelerate and deepen its transformation. In recent years, trust products have exploded, especially non-standard real estate trusts, which are greatly affected by the regulation of the real estate market and the downturn of the industry. Will the trust company misappropriate the property of the family trust when facing the huge debt crisis? Is the trust property invested in the trust products with relatively high risks in the management process? After the trust company goes bankrupt, how to select a new trustee? How to transfer the trust affairs and trust property? Such problems will bring great risks to the family trust. Domestic family trusts started late, the initial development is relatively extensive, the establishment process lacks professional guidance and planning, which inevitably lays hidden risks for family trusts. Then, in the establishment and operation of the family trust, how to avoid the subsequent transmission of the trustee's own risks to the family trust, we believe that more attention needs to be paid to the following aspects: (I) establishment link 1, pay attention to the selection of trustees. The shareholder background of China's trust companies is mostly central enterprises, local governments and large financial institutions, and most of the trust companies are subject to the dual supervision of the CBRC and the state-owned assets system, with strong wind control and management capabilities, but management loopholes are not ruled out. In recent years, there have been many cases of trust companies being punished for compliance issues. Choosing a reliable trustee is definitely not only as simple as looking at the shareholder background and asset scale, but also needs to examine the compliance, risk control ability, business composition, service ability and other aspects of the trust company from a professional perspective. Multi-dimensional comparison, especially the optimization of business structure and the key direction of business development after the new asset management regulations, is the key to judge the future development of trust companies. 2, pay attention to the design of the architecture. The financial nature of China's trust industry gives trust companies a strong asset management function, and most institutions guide clients to set up family trusts to pay more attention to asset management rather than legal structure design. Different client types have different needs and purposes for setting up family trusts, requiring targeted planning and design. For customers with enterprise inheritance needs, it is necessary to comprehensively sort out and adjust the equity structure and corporate governance structure of family enterprises, balance the relationship between ownership and management rights, and make tax arrangements and tax planning in advance for trust property or trust income enjoyed by beneficiaries, so as to avoid rights disputes and management confusion when family enterprises continue. For clients who value the need for risk isolation, the need to focus on planning the architectural design of family trusts that are punctured by judicial review. 3, pay attention to the drafting of trust documents. As most of the domestic family trusts are still in their infancy and have not yet experienced storms, many institutions still provide customers with standardized and formatted trust texts, the content is basically copied from the general provisions of the Trust Law, the practicality of the entire trust documents is relatively poor, the future is prone to disputes and difficulties. Just as Xinhua Trust entered the bankruptcy process today, the customers of Xinhua Trust may not have any specific terms agreed in advance in his trust documents on how to select the new trustee, who will select the new trustee, whether the new trustee can fully accept the rights and obligations of the trustee in the original trust documents, and who has the authority to adjust the relevant contents according to what procedures. Moreover, replacing the trustee only after the original trustee has gone bankrupt can put the family trust at a great disadvantage. Therefore, it is particularly important to list the necessary provisions in the drafting of the trust document and set up the corresponding trigger clause. When the trustee's operations or creditworthiness are adversely affected, having a complete trust document that can initiate the replacement process as soon as possible will be more conducive to protecting the interests of the entire family trust and beneficiaries. (II) management link 1. Pay attention to the supervision and protection of family trusts. Article 64 of the Trust Law stipulates: "Public trust shall have a trust supervisor." But the law on whether a family trust should have a supervisor (or "protector") does not make a mandatory requirement. Generally speaking, the supervisor is generated by the provisions of the trust document and is responsible for supervising and inspecting the trustee's handling of the trust affairs and the state of the property. In order to safeguard the interests of the beneficiaries, when necessary, the supervisor may file a lawsuit or carry out other legal acts in his own name. However, in reality, many family trusts do not have monitors, or do have monitors but do not have effective monitoring mechanisms. When the principal is alive, he can basically act as an inspector and supervise the operation of the family trust. However, in the event of the death or incapacity of the settlor, some trust documents are not fully disclosed to the beneficiaries, and without the supervision of the trust supervisor, the family trust will fall into a supervisory vacuum (although there is a corresponding regulatory authority, the intensity of supervision does not touch every specific trust matter). Moreover, if the trustee's own business is in great trouble, it is also very easy to produce moral hazard and make irregularities, thus endangering the property safety of the family trust. 2, pay attention to the revision of the trust documents. At the beginning of the drafting and establishment of the trust document, due to various factors such as imperfect legal support and the actual operation of the principal, it is impossible to achieve perfection. With the continuous improvement of laws and regulations and supporting policies, the initially drafted trust documents will inevitably lag behind the future system, and may even conflict with it. Then for the trust documents leak fill, timely update, add and delete, perfect is the inevitable requirement. The core purpose of setting up a family trust by customers is to "keep wealth and keep family business forever". However, with the passage of time, the types of trust property may continue to be enriched, the number of family members will continue to increase, and the internal and external operations of the family business will inevitably change, Then family trust customers will inevitably have new requirements in investment, taxation, identity planning, family business equity optimization and other aspects. Early trust documents may not be able to meet the long-term needs of the continued inheritance of family wealth, so the necessary exposure and flexible interface must be left at the beginning of the structure design and trust document drafting, leaving room for future changes, as well as the necessary rules for the revision of trust documents. Conclusion The event of Xinhua Trust entering bankruptcy proceedings will inevitably make high net worth customers distrustful of domestic family trusts, but there is no doubt that the CBI's approval of Xinhua Trust's bankruptcy will have a positive impact on accelerating the transformation of trust companies, reshaping the image of the industry and strengthening internal and external supervision. The establishment of a family trust, whether in or outside the country, cannot be perfect once and for all. In the process of establishment and management of family trusts, only by doing a good job in the selection of trustees, risk prevention, internal supervision, and effective compliance with governance rules can the short-term and long-term goals of family trusts be achieved.
2022-08-10
Zhongcheng Qingtai Jinan Region
Address: Floor 55-57, Jinan China Resources Center, 11111 Jingshi Road, Lixia District, Jinan City, Shandong Province
