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The review of the effectiveness of the arbitration agreement between Galaxy Securities and Puyin Ansheng Fund

March 15, 2019 08:32

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Recently, the referee paper network shows that Galaxy Securities andPuyin Ansheng FundThe application for confirming the validity of the arbitration agreement has been reviewed and the court finally rejects the application of the applicant Galaxy Securities.

The ruling shows that on June 28, 2017, Pu Yin An Sheng was the reverseRepoThe dealer and Galaxy Securities are the repurchasing dealers, and through the declaration, system confirmation and transaction data in the SSE system, a bond with transaction number 687 is formed.PledgeThe agreement repurchase transaction, the specific situation is: the loan amount is 42.75 million yuan, the agreed repayment date is July 12, 2017, the agreed interest due is 85265.75 yuan, and the transaction has expired.

On May 16, 2018, Pu Yin AnshengfundAs the applicant, according to Article 18 of the “Shanghai Stock Exchange Bond Pledge Agreement Repurchase Agreement Master Agreement” (hereinafter referred to as “Main Agreement”) signed on February 27, 2015, Galaxy Securities as the respondent Submit an arbitration application to the Arbitration Commission, requesting Galaxy Securities to repay the financing and financing interest. The Arbitration Commission accepted the arbitration case.

However, Galaxy Securities applied for the “Master Agreement” signed by Pudong Ansheng Fund on February 27, 2015 for its management.Financial managementProduct "Pu Yin An Sheng Ri RifengcurrencySigned by the Market Fund, Pudong Ansheng Fund is not a party to the arbitration agreement, requesting the ruling of the arbitration clause in the Master Agreement signed by Puyin Ansheng on February 27, 2015 to Galaxy Securities and Pu Yin Ansheng The company does not take effect.

In the end, the court held that the reasons for the invalidity of the arbitration agreement proposed by the applicant Galaxy Securities were not legal reasons and could not be established. The application for confirming the invalidity of the arbitration agreement was not supported. Reject the applicantChina GalaxyApplication for Securities Co., Ltd.

(Article source: China Securities Journal)

                (Editor: DF398)

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