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On Compulsory Execution of Equity in China

  • Journal of International Business Transactions Law
  • Abbr : IBT
  • 2017, (18), pp.59-82
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law > Private Law > International Commercial Transactions Law

Bao, Bing-Feng 1

1西南政法大学法学院

Candidate

ABSTRACT

Equity enforcement refers to that the execution applicant applies to the court for the execution of the respondent's stake in the company on the basis of the effective legal instruments with property content. As a kind of special property, the way to enforce the equity is different from that of the general property. However, China's current legal and judicial interpretation of equity enforcement is very little, especially for the limited liability company's equity enforcement. Due to the lack of corresponding procedural norms, there are many problems in practice needing to be standardized and unified. The particularly prominent problems are the debates on the feasibility of the original shareholders to exercise part of the preemptive right and the solutions to problems in freezing equity and executing special equity such as implicit equity and empty equity. Based on the situation mentioned above, this paper argues that it should deny part of the preemptive right of the original shareholders, clarify the object of the notification after freezing the equity, clarify the scope of the legal effect of the equity freeze and set up the equity receiver system, confirm that the implicit equity can not be enforced while the empty equity can be enforced and clarify the liability subject of the capital supplement responsibility.

Citation status

* References for papers published after 2022 are currently being built.