自贸离岸债违约处置测试案例今开庭审理

Core Viewpoint - The trial of the offshore bond default case in Shanghai is significant for establishing a compatible offshore financial system with the Shanghai International Financial Center, enhancing legal risk assessments of current offshore bond rules, and providing a legal framework for the construction of the offshore RMB market [1][2]. Group 1: Case Details - The case is the second test case since the release of the Shanghai Financial Court's financial market case testing mechanism [1]. - The trial panel consists of four judges from the Shanghai Financial Court and three external experts, including law professors from Hong Kong and finance professors knowledgeable in international financial systems [1]. - Key issues in the case include the legality of blockchain-issued offshore bonds, the independent litigation status of individual investors, cross-default and expected default conditions, and the reasonableness of domestic collateral disposal procedures and prices [1]. Group 2: Legal and Financial Implications - The trial is seen as a systematic legal risk pressure test of current offshore bond rules, aimed at enhancing compatibility between China's financial market infrastructure and international standards [2]. - The trial court will follow principles of independent voting, majority decisions, and dissent retention to issue judicial opinions based on the case facts [2]. - The case is expected to play a crucial role in preventing cross-border financial risks and promoting high-level financial market openness [2].