《异议股东股份回购法律问题研究》由会员分享，可在线阅读，更多相关《异议股东股份回购法律问题研究（43页珍藏版）》请在金锄头文库上搜索。
1、 密 级： 学校代码：10075 分类号： 学 号：20100289 法律硕士学位论文 异议股东股份回购法律问题研究 学 位 申 请 人 ： 李瑞敏 指 导 教 师 ： 王昆江 副教授 麻胜利 教授 学 位 类 别 ： 法律硕士专业学位 学 科 专 业 ： 法律硕士（法学） 授 予 单 位 ： 河北大学 答 辩 日 期： 二一二年六月 Classified Index: CODE: 10075 U.D.C.: NO: 20100289 A Dissertation for the Degree of J.M Research on the Appraisal Rights of the Dis
2、senters Candidate: Li Ruimin Supervisor: Vice Prof. WangKunjiang Prof. Ma Shengli Academic Degree Applied for: Juris Master Specialty: Juris Master（Law） University: Hebei University Date of Oral Examination: June，2012 摘 要 I 摘 要 资本多数决原则在现代商业社会中已经成为了各国公司法上的一条基本定理。 但如 果对这一原则无限推崇，则会造成小股东的利益受到侵害。异议股东股份回购
3、请求权作 为公司法上的一项重要制度，它的出现打破了以往漠视少数股东权益的局面，为处在不 利状况下的股东提供了有力的制度保障，实现了不同利益者之间的关系平衡。异议股东 股份回购请求权这一权利设计起源于美国，并逐渐为世界各国公司法所吸纳，我国则在 2005 年修订的中华人民共和国公司法中，通过新增两个条款，首次在基本立法层面 对异议股东股份回购请求权制度作出了明确规定，这无疑是一大进步。但是，无论是在 学理研究还是实践经验上都还存在着一定的空白，与我国目前的实际需求尚有一定差 距。因此，对这一功能突出、内涵丰富的制度的研究，既可以弥补空白、全面掌握，更 为该制度在我国真正发挥其效用起到良好的推动作
4、用。 本文以异议股东股份回购请求权为视角， 对该制度核心领域中争议较多的几个问题 进行了探讨，在全面分析梳理的基础上，进一步提出自己的观点。首先讨论了异议股东 股份回购请求权适用的公司类型，对各种立法模式分析比较之后，着重探讨了市场例外 原则的适用。之后，进一步明确了异议股东股份回购请求权的法定回购事由，通过对不 同国家立法的比较分析，提出了应肯定公司分立合并、章程变更以及重要资产的转让、 出租与置换作为回购事由。继而，对异议股东股份回购请求权的权利义务主体予以明确 划分。在权利主体方面，讨论了无表决权股东、出资瑕疵股东、存续股东与消灭股东。 义务主体方面则针对是否应包括同意公司决议的股东展开
5、讨论。在此基础上，着重对异 议股东股份回购请求权核心要素公平价格的确认进行了全面分析， 包括评估的决定 模式与主要方法，以及影响到评估的一些相关要素。之后，结合前面有关异议回购请求 权制度核心实体问题的讨论，对异议股东股份回购请求权的适用程序展开了探讨，并区 分内部程序和司法程序进行深入分析。最后，对异议股东股份回购请求权行使过程中的 一些特殊问题进行了讨论，包括异议股东股份回购请求权的豁免与转换，对公司债权人 的保护，回购股份的处理与资金来源，异议回购请求权的失效情形。综合运用了历史分 析方法、比较研究方法等多种研究方法。通过对核心问题的梳理与研究，对存在争议较 大的问题给出了自己明确的建议
6、，以期更好的完善该项制度，使其在实践中真正发挥效 摘 要 II 用。 关键词 异议股东 股份回购 公平价值 Abstract III Abstract The principle of “Majority Decision Rule” has become a basic theorem of national company law in the modern commercial society. However, if we abuse this right, the minority shareholders are easy to be enriched by the majorit
7、y shareholders. As an important system in Corporation Law, the appraisal rights of the dissenters have changed the situation that the minority shareholders rights were ignored. The appraisal rights system is an extremely effective system in protecting minority shareholders rights; the appraisal righ
8、ts of the dissenters embody the interests balance between individuals and the companies. Dissenting Shareholders Appraisal Right originated from the America, and has gradually been absorbed by the Corporation Law in different countries of the world. The newly revised Corporation Law of Peoples Repub
9、lic of China in 2005 officially stipulates the Dissenting Shareholders Appraisal Right by two articles, which is no doubt a tremendous progress. But whether the regulations concerning this system or practices had not been set up in our country, and can not meet the realistic demand. Therefore, resea
10、rch on this effectively system can make up for the blank and then we can master it, this system will develop faster and better in our country. This paper discusses and analyses the relevant provisions which is very important and controversial. Based on the background, the author mentions some elemen
11、tary arrangements and tentative plans. First, the author had expounded the scope which the system applies to. The object of the appraisal rights of the dissenters focus on the characters of the companies it will apply to. Not all the companies can be applied for such kind of right. Then, the author
12、expounded the legal matters of repurchasing. According to the different countries legislation comparison analysis, the separation and merger of the companies, alteration of the articles of association as well as important assets transfer, leasing and replacement should be the legal matters of repurc
13、hasing. And then, the author expounded the types of shareholders. Owning to the different structure of the companies, not each shareholder gets his or her appraisal right when they hold dissents. The author expounded the shareholders who dont have voting rights, or have defects on capital contributi
14、on, existing shareholders and whether the entity of Abstract IV repurchasing shares should include the shareholders who agreed to the company resolution. On the basis of that, the author expounded the core element of the appraisal rights of the dissenters, which is to determine the reasonable value
15、of the shares that determines whether the dissent shareholders interests can be protected fairly and efficiently. The author gives an introduction to the different kinds of appraisal models, appraisal method and some other related factors. The next part is about the procedural application of the sys
16、tem. This part contains internal procedure and judicial procedure. Finally, the author expounded the special issues about this system. This part includes the immunity and conversion, the protection of creditors, the processing of repurchasing shares, the source of funds and the condition of void. In order to improve this rule, with the methods of historical analysis and comparison anal
