有限责任公司异议股东股份回购请求权制度研究

发布时间：2018-03-19 06:12

本文选题：异议股东　切入点：股份回购　出处：《中国政法大学》2010年硕士论文　论文类型：学位论文

【摘要】：公司制度的诞生就伴随着股东之间及公司与债权人之间的利益冲突,平衡两类冲突是公司法法律制度发展的永恒问题。当公司决议的基本原则从“全体一致决”向“资本多数决”转变后,公司股东之间因利益分歧而引发的纠纷变越发剧烈,形成了对公司持有控制权的多数股东与处于被控制地位的少数股东之间这一难以调和的矛盾。多数股东根据“资本多数决原则”而在实质上享受着对公司的最终控制权,故当其无视少数股东的利益而滥用该控制地位操纵公司仅为其自身谋取利益时,少数股东就成为了该公司的“囚徒”:一来少数股东无法利用其已经投入公司的资本增加自身的收益,因多数股东基于其控制地位可以轻易的排除少数股东取得公司经营收益的可能;二来少数股东又无法将所持有的公司股份对外转让以便做出新的投资安排,因没有任何一个投资者愿意接手一个已经被控制的公司而替代原股东成为一个被操纵的傀儡,同时多数股东又会满足于现状而缺乏主动收购少数股东股份的意愿。故出于平衡多数股东与少数股东之间因“资本多数决”原则的采用而引发的激烈矛盾,异议股东股份回购请求权制度得以发展,并迅速成为各国公司法立法中的重要制度之一。由于异议股东股份回购请求权制度具备增加股份流动性的功能,故该制度对于有限责任公司而言更具有非凡的意义,盖因有限责任公司的人合性与封闭性特点,当其多数股东与少数股东之间因利益纠纷问题发生剧烈矛盾时,或出现公司股东会“僵局”时,其股份难以转让的特性就会成为束缚少数股东资本流动的极大障碍,而通过立法赋予少数股东在特定情形下得以要求公司回购其股份,是对其股份缺乏流动性的一种最佳补偿方式,同时也是保障其股东利益不被多数股东不正当损害的有效途径。2005年我国的新《公司法》正式引入了该制度,赋予了有限责任公司股东在特定情形下的回购请求权。但由于各种原因,目前该制度的法律条文较为粗浅。故对于广大的少数股东而言,当其与公司内的多数股东之间发生利益冲突时,期望利用现行的立法条文作为武器保障自身的权利还显得远远不足,具体表现在现有立法对异议股东股份回购的法定事由规定并不适当、有权提出股份回购请求权的股东范围过窄、缺乏较为深入的便于执行的股份回购程序等方面。同时因目前立法中所设立的异议股东股份回购请求权制度并没有对公司债权人可能因异议股东行使股份回购请求权而产生的利益风险作出相应的规范性安排,故在此方面对于债权人利益保障的工作仍然存在待改进与完善。基于上述这种种原因,本文立足于异议股东股份回购请求权制度所蕴含的期待利益保障理念和利益衡平理念,论述了该制度在保障有限责任公司股东利益方面的重要意义,并结合该制度对股东和债权人利益所产生的影响,吸收其他国家对此问题的立法经验,就我国立法中所存在的不足提出完善性建议。
[Abstract]:The birth of company system is accompanied by the conflict of interest between shareholders and creditors of the company and the balance, two kinds of conflicts is the eternal problem of the development of company law system. The basic principles of resolution when the company from the "unanimous decision" to "capital majority rule", the company shares between the East and the dispute because of divergence of interests became more acute, the formation of the company holds a majority shareholders and between shareholders which is difficult to reconcile the contradictions. The majority shareholders according to the "majority rule" in essence, enjoying the ultimate control of the company, so when they disregard the interests of minority shareholders and the abuse of control the company only for their own position to manipulate the interests of minority shareholders, has become the company's "prisoner": as a result of minority shareholders can not use its own company has invested capital increase The income, because the majority shareholders can easily control the position based on the exclusion of minority shareholders to obtain business income; and minority shareholders and to holdings of shares in the company to make arrangements for the transfer of foreign investment in the new, because no one is willing to take a hand investors had taken control of the company to replace the original shareholders of a a puppet, while the majority of shareholders will be satisfied with the status quo and the lack of active minority shareholders. It will fierce to balance the contradiction between majority shareholders and minority shareholders because of "the majority rule as a result of the dissenting shareholders'appraisal right system to develop, and quickly become one of the most important the system of company law legislation in many countries. Because of the dissenting shareholders'appraisal right system has increased the share liquidity function, so the system for A limited liability company has more special significance, and closed features because of limited liability company, when the majority shareholders and minority shareholders interests disputes due to dramatic conflicts, or the appearance of the shareholders of the company will "deadlock", will be difficult to transfer its shares characteristics has become a great obstacle to the minority shareholders flow bound capital, and through legislation to give minority shareholders to require the company to repurchase its shares in the specific circumstances of the company is lack of a best compensation way for liquidity,.2005 is also the effective way to protect the interests of shareholders are not many shareholders unfair damage in our country's new company law formally introduced the < > the system gives the repurchase rights of shareholders of a limited liability company in specific circumstances. But due to various reasons, the current legal provisions of the system. It is relatively simple for the less The number of shareholders, when the interests conflict between the majority shareholders and the company's expectations, using the existing legislative provisions as weapons to protect their rights is still insufficient, the specific performance is not appropriate in the provisions of statutory subject matter existing legislation on share repurchase for dissent shareholders, have the right to make a claim of share repurchase shareholder scope narrow, lack of in-depth to facilitate the implementation of the stock repurchase program and other aspects. At the same time due to the current legislation to set up the system of the appraisal right of dissenters and not because of the repurchase rights for dissent shareholders and creditors of the company shares may benefit risk to make normative arrangements accordingly, so here to protect the interests of creditors the work remains to be improved and perfected. This kind of reasons, this paper is based on the dissenting shareholders'appraisal right. With the expectation to protect the interests of ideas and interests balance idea, this paper discusses the important significance of the system in protecting the interests of the shareholders of the limited liability company, combined with the effect of the system due to the interests of the shareholders and the creditors, the legislative experience of other countries to absorb this problem, on the problems in our legislation put forward recommendations.

【学位授予单位】：中国政法大学
【学位级别】：硕士
【学位授予年份】：2010
【分类号】：D922.291.91

【引证文献】