Research On The Improvement Of Equity Repurchase System Of Limited Liability Companies In My Countr

With the continuous opening of the market and the importance of economic strength,requires our country to improve the level of economic development,the company as an enterprise legal person in our social development,and the limited liability company in our economic activities is more and more important,but also as an important economic organization plays its unique value in the market.In Article 74 of the Company Law of the People’s Republic of China(hereinafter referred to as the Company Law),China stipulates on the equity repurchase of limited liability companies by means of requesting the right of equity repurchase of opposing shareholders.Due to the lag nature of legislation and practice,China’s current equity repurchase system can neither guarantee the basic rights and interests of dissent shareholders,nor balance the interests of corporate creditors without violating the principle of capital enrichment.Through combing the legislative provisions and application of equity repurchase,it is not difficult to see that in the process of revising the Company Law,the improvement of the equity repurchase system of limited liability companies has not been paid attention to,which cannot solve the new situation and new problems in practice.In order to balance the rights and interests of creditors and shareholders of the company,or for the operation and development of the company,the equity repurchase system should be further improved and improved.Theoretically,the general sense of equity repurchase system in line with the company contract theory,interest balance theory,shareholders expectation theory,help the company deal with opposition between shareholders,also conducive to the long-term existence of limited liability company,but the reality medium the system can really play the role at the same time not damage the interests of creditors,is still need to constantly perfect system.Outside the us,Germany,Japan and other countries on the equity repurchase has accumulated rich system experience,therefore,can be on the premise of the necessary reference,to ensure the interests of the company can repurchase conditionally,make the system can form the relief of objection shareholders,also can meet the needs of the company business flexibility,but also does not damage the interests of the company creditors.