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Definition of “Serious Difficulties in Operation and Management” in the Chinese Company Law

  • Journal of International Business Transactions Law
  • Abbr : IBT
  • 2021, (34), pp.89-110
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law > Private Law > International Commercial Transactions Law
  • Received : June 20, 2021
  • Accepted : July 28, 2021
  • Published : July 31, 2021

Zhang Zhenbao 1 CHEN BING 2

1충북대학교
2충북대학교 법학전문대학원

Accredited

ABSTRACT

Company is a common form of economic organization. In order to maintain the operation of the company and protect the interests of creditors, various countries have made clear and strict restrictions on the establishment, merger, division, dissolution, liquidation and other activities of the company in the legislative practice of the relevant laws of the company, so as to avoid the obstruction and damage to the development of the company caused by negative factors and arbitrary judicial acts, and then destroy the economic operation and healthy development of the whole society. Among them, the relevant laws and legislations of various countries and regions are particularly cautious about the reasons for the dissolution of the company, in addition to providing for the dissolution of the company due to its own reasons and administrative acts, it also includes requesting the court to dissolve the company. Article 182 of China's Company Law clearly stipulates the request for the court to dissolve the company, this paper will discuss the judicial authorities' prudent intervention in the company's business activities as stipulated in Article 182 of China's Company Law. Firstly, it describes the current situation of China's Company Law; Then, it explains the legal provisions and problems in the application of the current articles 180 and 182 of China's Company Law on the dissolution of a company; After that, it points out the problems existing in Article 182 of China's Company Law; Finally, the paper puts forward some suggestions to improve the existing problems in Article 182 of China's Company Law.

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