資產管理公司興起對企業重建之影響
Date Issued
2006
Date
2006
Author(s)
高兆棋
DOI
zh-TW
Abstract
On November, 2000 the Legislative Yuan passed " The Financial Institutions Merger Act ", which provided the legal base for the establishment of asset management companies (AMC), and the non-performance loan (NPL) disposal in Taiwan. The first successful NPL public transaction was made between the First Bank and the AMC of Cyberlus on March, 2002, a deal of thirteen billion and two hundred million book value. After that, NPL was transacted either through bidding or negotiation, which was a prompt way of NPL disposal for the financial institutes.
After obtained NPL, the main function of AMC should be the classification and conformity of NPL. Then AMC found its best disposal strategy. In addition, it would have the great contribution to the stability of society and economy if AMC could further facilitate the turnaround of the financially distressed enterprise, avoid the bankruptcy and recover the going concern value of the enterprise, besides AMC obtaining benefits itself.
Generally speaking, concerning time and efficiency, AMC sill focused on the disposal of the pledged subjects, such as the real estates, common stocks and so on, which were linked to the NPL. There were not so many cases for AMC to facilitate the turnaround of enterprises, but using AMC or SPC (special purpose company) as the strategic tool to reconstruct the enterprise gradually formed. Those methods would be the important topic in future for the turnaround of enterprises.
Subjects
資產管理公司
財務危機
企業重建
AMC (asset management company)
financial distress
enterprise turnaround
SPC (special purpose company)
Type
other
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