국적취득조건부선체용선에서 특수목적법인의 채무자회생법 적용에 대한 법적고찰 -동아탱커의 특수목적법인 회생절차신청 사례연구를 통하여-

Abstract

Bareboat Charter Hire Purchase Agreement for the purpose of ship financing is a ship lease agreement between a special purpose company established for the purpose of owning and leasing ships and a shipping company that controls and occupies ships. As specified in Article 848(2) of the Korean Commercial Code, if the charterers pay all the agreed charter hires, a title of ownership of the vessel is transferred to the charterers. The purpose of the Bareboat Charter Hire Purchase Agreement is to separate the vessel that is the creditor’s collateral from the shipping companies(charterers)’ credit risk by distinguishing between the ship owner (a special purpose company) and the shipping companies (a charterer as a shipping entity). However, in the recent corporation’s rehabilitation process of a mid-sized shipping company, even a special purpose company applied for the initiation of rehabilitation procedures, which challenged the Bareboat Charter Hire Purchase Agreement for the purpose of bankruptcy insulation. In this paper, at first, for better understanding, we examined the legal nature of the Bareboat Charter Hire Purchase Agreement and general legal principles related to the purpose of establishing a special purpose company. As an example, we analyzed the background of the application for corporate’s rehabilitation procedures of the shipping company and the specific cases of rehabilitation procedures of a special purpose company, and evaluated the decision of the court. In addition, even if the special purpose company is approved by the court for the commencement of rehabilitation procedures, we examined whether it has any practical benefits and examined its limitations. Finally, the implications and improvements of rehabilitation procedures of special purpose companies were reviewed.