中旅集团与华证公司股权转让合同纠纷再审案评析

发布时间：2018-03-10 01:07

本文选题：破产清算　切入点：股权转让　出处：《湖南大学》2015年硕士论文　论文类型：学位论文

【摘要】：股权转让是股东行使股权经常而普遍的方式,但是破产清算中股权自由转让的问题,我国新的破产法却缺乏详细规定。中旅集团和华政公司股权转让合同纠纷中,作为华夏证券的发起人股东,中旅集团与华政公司在禁售期内签订华夏证券股权转让合同后不久华夏证券却走上破产清算程序。就股权转让,损失承担问题,双方展开了长达六年的诉讼。案件的争议焦点主要有以下三个方面:禁售期内股权转让合同的效力,破产清算程序下股权转让合同能否实际履行,以及股权减值的风险由谁承担的问题。重点分析在禁售期内签订的禁售期后股权转让合同是否违反法律强制性规定;股权转让合同签订后股权转让前企业进入清算程序,合同履行是否遭遇实质性的障碍;股权转让手续如何实际操作,破产管理人能否协助股东转让股权以及股权转让过程中;股权减值的风险到底算情事变更还是商业风险的问题。并得出如下结论:禁售期的股权转让协议,只要没有违反法律法规的效力性规定,就应当被认定为有效;企业进入破产清算程序,公司在法律上存在,股权就可以转让,破产管理人应当协助股东转让股权;股权转让中遭遇减值风险是典型的商业风险而不是情事变更。但是由于立法的缺失使得案情复杂,历时长久并且出现了五个结果不同的判决,这极大的影响了司法的权威性和稳定性。因此,需要通过完善立法来确定管理人的权利,细化破产管理人的职责,通过司法解释来出台具体的实施细则,以期对破产清算程序下股权转让问题的解决有所帮助。
[Abstract]:Equity transfer is a common and common way for shareholders to exercise their equity. However, the new bankruptcy law of our country lacks detailed provisions on the issue of free transfer of shares in bankruptcy liquidation. As the sponsor shareholder of Huaxia Securities, China Travel and Tourism Group and Huazheng Company signed the Huaxia Securities Equity transfer contract within the no-sale period, but soon after Huaxia Securities entered into the bankruptcy liquidation process, on the issue of equity transfer and loss bearing, The dispute focuses on the following three aspects: the validity of the equity transfer contract during the no-sale period, and whether the equity transfer contract can actually be fulfilled under the bankruptcy liquidation procedure, And the question of who should bear the risk of equity impairment. The emphasis is on whether the contract for the transfer of equity after the period of prohibition is in violation of the mandatory provisions of the law; after the signing of the contract of equity transfer, the enterprise enters the liquidation procedure before the transfer of shares, Whether there are substantial obstacles to the performance of the contract, how the procedure of equity transfer is actually operated, whether the bankruptcy administrator can assist the shareholders in the transfer of equity and the process of equity transfer; Whether the risk of equity impairment is a matter of change or commercial risk. The following conclusions are drawn: the agreement on the transfer of shares during the period of prohibition should be considered effective as long as it does not violate the effective provisions of laws and regulations; When an enterprise enters the bankruptcy liquidation procedure, if the company exists legally, the equity can be transferred, and the bankruptcy administrator shall assist the shareholders to transfer the equity; The risk of impairment in the transfer of shares is a typical commercial risk rather than a change of circumstances. However, due to the lack of legislation, the case is complicated, lasting for a long time and resulting in five judgements with different results. This has greatly affected the authority and stability of the administration of justice. Therefore, it is necessary to establish the rights of the administrator through improving legislation, to refine the duties of the insolvency administrator, and to issue specific implementation rules through judicial interpretation. With a view to bankruptcy liquidation procedures under the equity transfer of the solution to help.
【学位授予单位】：湖南大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D920.5;D923.6

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