美国DIP融资主要是指债务人从外部获得的独立于债务人财产之外的资金融资模式,但是陷入困境的债务人企业若要获得推进其顺利重整的外部融资实则不易,尤其在破产重整DIP治理模式下更显复杂。本文介绍美国DIP融资模式的程序规范,阐述有利于重整程序顺利进行的DIP融资优先权制度,分析DIP融资模式下的重整公司治理约束机制,探讨多样化的DIP融资模式,并就相关问题提出完善我国破产重整债务人自行管理融资制度的立法建议。
America's Debtor In Possession( DIP) financing mainly refers to the financing model that the debtor gets external assets that are independent of the assets of his own. But the case that the troubled debtor wants to get external financing to push the organization cannot be easy and can be especially complicated under the bankruptcy organization DIP model. This paper introduces the procedural norms of DIP financing model of America,elaborates the priority system in DIP financing system which is beneficial to the smooth proceeding of reorganization procedure,and analyzes the regulating mechanism of reorganization corporation under the DIP financing model,and discusses the variety of DIP financing model. At last,legislative proposals over relevant questions are put forward to improve DIP financing system in China.