专栏“担保面面观”开篇语

《民法典》的重要改革理念之一是功能主义担保观，并据此将所有权保留、融资租赁、保理等非典型担保作为“其他具有担保功能的合同”统一纳入担保体系。在规则新设统合之下，实务操作中的权利实现路径、混合担保中的顺位问题、与既有法律制度的衔接等难题亦随之浮现。鉴于此，笔者发起“担保面面观”专栏，旨在立足立法本意，结合实务案例，系统梳理担保领域的规范逻辑与适用要点，为市场主体理解规则、防控风险提供实务镜鉴。

引 言

《民法典》及《最高人民法院关于适用<中华人民共和国民法典>有关担保制度的解释》（以下简称《担保制度解释》）已基本确立了所有权保留的担保权构造，由此衍生的进一步问题是，如何与混合担保、合同解除、执行、破产等制度衔接适用，这已成为当前实务界的热点争议。其中部分问题系我国立法混合继受所导致的特有问题，在比较法上并无成例可借鉴。鉴于此，笔者将结合新法修订与最新司法判例，围绕六大争议、十二个子项问题展开，以期抛砖引玉，求教方家。

In these uncertain times, some companies are exploring ways to restructure their existing credit facilities to navigate business challenges, including cash flow shortages. Highly leveraged companies that are taxed as partnerships, such as the portfolio companies of private equity funds, must carefully consider the significant tax consequences associated with restructuring and modifying their debt obligations, especially if the company is or is likely to be in financial distress.

Winding-Up Petitions in the BVI - A Practical Guide For Creditors

Die Sicherstellung einer flächendeckenden, leistungsfähigen Krankenhausversorgung ist eine der zentralen Aufgaben der Landkreise und Kommunen in Deutschland. In den vergangenen Jahren hat sich die wirtschaftliche Lage vieler privater Krankenhäuser jedoch dramatisch verschlechtert. Ursachen sind unter anderem der anhaltende Fachkräftemangel, steigende Kosten durch Inflation und Tarifabschlüsse, ein Investitionsstau sowie strukturelle Veränderungen im Gesundheitswesen und die noch nicht in Gänze umgesetzte Gesundheitsreform.

ベトナムでは、2025年12月11日に「再生・破産法（Law on Rehabilitation and Bankruptcy No. 142/2025/QH15、以下「2025年法」といいます。）」が公布され、2026年3月1日（一部規定は2026年7月1日）から施行されています。従来は、2014年に制定された破産法（Law No. 51/2014/QH13、以下「2014年法」といいます。）が国内の倒産法制を担ってきたものの、2025年法の制定によりその役割を終えたことで、ベトナムの倒産法制と事業再生は

Strategy cannot override practitioner's duties to the court or interfere with the interest of finality and efficiency of the justice system.

Litigation is often a series of strategic plays. The Full Federal Court decision in Madden (Receiver) v Mining Standards International Pty Ltd [2025] FCAFC 142 provides helpful guidance regarding the difference between impermissible tactical claim splitting and legitimate financial constraints influencing a party’s approach in litigation.

The Supreme Court of India (“Supreme Court”) in Ujaas Energy Limited vs. West Bengal Power Development Corporation Limited1 held that while claims not forming part of an approved resolution plan stand extinguished, a limited right to raise the defence of a set off in respect of such claim may still survive, depending on the terms of the resolution plan and in the facts and circumstances of each case.

The decision confirms that ranking depends on when the claim arises not when it is assigned

The Spanish Supreme Court, in its ruling 22/2026, has addressed a frequently contested question in Spanish insolvency law: whether the subordination of a claim based on the creditor being a related party should be determined at the time the claim originates or at the time it is later acquired by assignment.