Study On The Disregard Of Corporate Personalities System In China

The independent corporate legal personality and limited liability of shareholders are the two characteristics of the Corporate Legal Person System.The significance of granting corporate the independent legal personality and shareholders the limited liability by law is to enable corporate to take responsibilities by their own and shareholders to bear limited liability.However, along with the development of the economy and society, some shareholders misuse the quality of corporate legal person, encroach on or transfer corporate property and evade debts, which seriously infringe the legal rights of creditors and destroy the ordinary economy order.Since it is the major duty of modern Corporate Law to protect the business safety, the System of Disregard of Corporate Personalities (hereinafter "System") is created.The System originated from America; and accepted by more and more countries around the world and implemented practically along with the improvement and development of its theory and system.The System was formally introduced to China in the legislation of Corporate Law of China, which improved the legal system of China and was significant to the civil legislation and civil or commercial trial. Because of its later establishment, and its slowly intensive research and development, the System in China requires further improvements in legislation and judicial practice:such as improving legislation in detail on the base of the System's principles, researching the System's application factors and restrictions, and implementing the System more proficiently and accurately in judicial practice to solve the practical problems. Through the cases in judicial practice, this thesis analyzes the restriction, implementation and formation characteristics of the System in China, points out the defects of the System in china, and brings up the suggestions of improving the System in judicial and legislation practice.