Research On The Responsibility Of Shareholders In The Company’s Defective Reduction Of Capital

Company capital is the material guarantee for the company to carry out its business activities and creditors’ trusting interests,and is especially critical in the modern company system.The company’s capital is not immutable,and the company’s shareholders will reduce the company’s capital accordingly to meet the objective needs of the company’s operations.The company’s capital reduction is a readjustment of the company’s rights structure,which has the risk of reducing the company’s ability to pay off external debt and may affect the interests of creditors.In order to protect the rights of shareholders,the interests of creditors,and maintain the safety of market transactions,the establishment of a capital reduction system should take into account both fairness and efficiency,so as to achieve a balance of interests between the company,shareholders,and creditors.Although China’s "Company Law" designed a series of institutional procedures for company capital reduction,due to the imperfect regulations,the operability of the capital reduction system is low in practice,and it is not possible to effectively solve the problems in judicial practice through existing laws,and many problems in judicial practice cannot be effectively solved through existing laws.Especially when the creditor’s interest is lost due to the company’s defective capital reduction,how to determine the liability at this time has become a major problem in China’s judicial practice.Therefore,this article takes the problem of corporate defect capital reduction as the starting point,and mainly discusses the insufficient support for this problem in China’s judicial practice.Finally,it proposes how to solve the problem of shareholder liability in the corporate capital defect defect reduction.In addition to the introduction and conclusion,this article consists of four parts:The first part is the principle of the company’s flawed capital reduction.This part clarifies the connotation of the company’s defect capital reduction based on the concept of company capital reduction under different capital systems through the study of relevant references.On this basis,it analyzes the general characteristics of the company’s defective capital reduction and the legal consequences of the company’s defective capital reduction,and explains the relationship between the shareholder’s responsibility and the shareholders’ limited liability principle.The second part is the empirical analysis of the issue of shareholder responsibility in the company’s defect capital reduction.Through statistics and analysis,it examines the main discretionary factors for determining the shareholder responsibility in judicial practice,and summarizes the three kinds of judgment paths that the court usually applies.The third part is about the theoretical misunderstanding and practical confusion of the issue of shareholder responsibility in the company’s defect reduction.The unclear theoretical basis of shareholder responsibility is a controversial issue in theory.The vagueness of the effectiveness of the flaw reduction and the rigid determination of shareholder responsibility are confusion in judicial practice.The fourth part is the solution path of the shareholder’s responsibility in the company’s defect reduction.In general,adhere to the principle of balance of interests,especially between shareholders and shareholders,and between shareholders and creditors.In terms of specific practices,first of all,the effectiveness of the company’s defective capital reduction should be clarified.Secondly,the principle of capital maintenance should be clearly defined as the theoretical basis for shareholder responsibility.Thirdly,under the premise of the principle of capital maintenance,the constituent elements of shareholder responsibility should be unified;Under certain circumstances,consider introducing an accelerated expiry system for shareholders’ investment obligations to balance the interests of creditors and shareholders.