Corporation Personality Denial Under The Circumstance Of Remarkably Inadequate Capital

In 2013,China revised the Company Law,abolishing the minimum registered capital system and implementing the full subscription system.Although the implementation of this system has promoted the development of the capital market to some extent,it has also relaxed the supervision of company capital,increasing the risk of significant capital shortage in companies.At this time,it is more likely that shareholders abuse the independent personality of the company,leading to a significant shortage of capital in the company,In this situation,it is particularly necessary to deny the legal personality on the grounds of significant lack of capital.Although the "Nine Minutes of the People" explains the concept of significant capital shortage,there is no clear definition of the connotation,time point,and judgment criteria of capital in the case of significant capital shortage.This indicates that the judgment criteria and application occasions of "significant capital shortage" are relatively difficult to grasp,and the relevant legislation,burden of proof,and information disclosure system for denying legal personality in the case of significant capital shortage are also not fully regulated.Therefore,it is indeed necessary to conduct in-depth discussions on this issue,propose feasible suggestions to promote the legislative and judicial processes,and safeguard the legitimate rights and interests of various market entities.Based on this,this article adopts research methods such as literature review,case analysis,and comparative analysis to conduct a systematic study on the issue of corporate personality denial in the case of significant capital shortage.This article starts with relevant theories,defines the concepts of significant capital deficiency and denial of legal personality,and proposes that the main research object of this article is denial of legal personality in the case of significant capital deficiency.Based on the analysis of the relationship between significant capital deficiency and denial of legal personality,it demonstrates that denial of legal personality based on significant capital deficiency is legitimate and reasonable.Secondly,after conducting an advanced search of the research object through keywords,an empirical analysis was conducted on eligible samples to analyze the capital connotation,time point,judgment criteria,and other aspects reflected in the case.At the same time,combined with the shortcomings of the theoretical level,the main problems of denying the existence of corporate personality under the current situation of significant capital shortage were summarized as follows: the legislative content was not detailed enough,the allocation of burden of proof was unreasonable The information disclosure system is incomplete,the identification of capital content is inconsistent,the judgment time point for significant deficiencies is unclear,and the judgment criteria for significant capital deficiencies are vague.Finally,based on the relevant experience of denying legal personality in the case of significant capital shortage in foreign countries,a comparative study is conducted,and suggestions for improving the problems in denying legal personality in the case of significant capital shortage are proposed: clarifying the legislative content through summary and enumeration,allocating the burden of proof through the "two-step method",improving the information company system,clarifying the connotation of capital,and adjusting the timing of significant capital shortage,Four steps to determine "significant deficiencies".