The dilemma and breaking of the protection of the executed equity value
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D912.28

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    Abstract:

    Different from the developed countries, the lack of credibility is particularly evident in the field of equity enforcement in China.The abnormal decline in the value of equity occurs from time to time.The most common phenomenon is that the controlling shareholder gives the company's property to the third party which makes the equity value derogated.The current legal system for regulating the aforementioned phenomena are embodied in a post-relief method under the framework of creditor's right of revocation, invalidity of the contract of malicious collusion, reverse piercing the corporate veil, and the third party's tort liability.The aforementioned system has problems such as poor security, long-term application and lag in function, etc.It also leads to excessive occupation of judicial resources.The fundamental reason is that the legislation is imperfect, including the bad concept of shareholder creditor protection, ignoring the value of equity closely related to company property, despising the negative impact of the decision-making behavior of the controlling shareholder and other entities on equity value, and the limitations and cross-cutting of the current system norms.The procedural law and the substantive law complement each other, and the realization of civil rights cannot be separated from the guarantee of procedural law.We can improve the share value protection system by creating a company's important property rights restriction procedures, setting pre-emptive measures for commitment to good faith for controlling shareholders, legal representative, directors, general managers, by establishing a large-capital outflow reporting system and setting up an asset change review system as in-process control measures, which improving the executed equity value protection system in advance, in the event and after three dimensions.The protection system will be implemented to promote social integrity.

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丁磊,宋宗宇.被执行股权价值保护的窘境与破局[J].重庆大学学报社会科学版,2020,26(2):131~140

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History
  • Received:
  • Revised:June 17,2019
  • Adopted:
  • Online: March 14,2020
  • Published: