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When equities no longer equitable: applying the Deep Rock Doctrine in PRC

By King & Wood Mallesons on April 29, 2015

By Zhang Baosheng, Liu Bin and Zhu Jinshu King & Wood Mallesons‘ Dispute Resolution Group

On 31 March, 2015, the Supreme People’s Court issued four model cases, including Shagang LLC. (Shagang) v. Kaitian LLC.(Kaitian), a case in relation to an objection to enforcement of a distribution plan. In the case, the Court has referred to the Deep Rock Doctrine originated from the United States, states for the first time that shareholders whose capital contribution is insufficient shall be subordinated to external creditors of the company with respect to their payable debts. The Deep Rock Doctrine, as a rule established in other jurisdictions, shall be applied and considered in China legal practice with prudence and comprehensive consideration.
Continue Reading When equities no longer equitable: applying the Deep Rock Doctrine in PRC

因出资瑕疵引发的公司诉讼—-跨国公司在华公司诉讼系列（II）

By King & Wood Mallesons on June 29, 2012

Posted in Dispute Resolution

作者：张保生程世刚金杜律师事务所争议解决组

根据公司法的公司契约理论，公司本质是一种合同的集合，是股东之间就设立公司、分享权利和承担义务等内容所订立的协议，股东对公司的出资义务也是合同义务之一。借鉴合同法上违约行为的概念体系，根据股东违反出资义务的形式即出资瑕疵形式的不同，因出资问题引发的纠纷可分为不履行出资义务的纠纷和不适当履行出资义务的纠纷。不履行出资义务是指股东根本未出资，具体又可分为虚报注册资本纠纷、虚假出资纠纷、抽逃出资纠纷。不适当履行出资义务是指出资数额、出资时间、出资手续不符合规定或者约定，具体又分为出资不足纠纷、逾期出资纠纷、出资不当纠纷等。结合实践情况，现将各种出资问题引发的纠纷介绍如下。