| Companies, being the most important market body, the whole process of its establishment, alteration and termination shall be the main focus of legislation and the law theories. However, the legislation and the law theories of this Country focus more on the establishment of companies, i.e. on its admission to market than on the termination of companies, i.e. its secession from the market, which results to the fact that the legislation on the latter is too simple and the theoretical research is in short. In practice, there are many cases of companies'involvement in non-liquidation or malicious liquidation after their dissolution, which not only infringe the rights and interests of the Country (on taxation), the creditors, the employees, and the shareholders with minority stake, but also lower the social credit and disturb the market economic order. The legislation circle, the judicial circle and the theoretic circle shall be warned by this phenomenon and start to think about it. Furthermore, the new company law, due to its lack of creativity in its provisions on company liquidation, is impotent to solve many problems existing in the current liquidation of companies. Many problems on company liquidation existing in the enforcement of the old company law still exist after the promulgation and effectiveness of the new company law. From the author's point of view, the root of aforesaid problems lies in the similarity of the rules of liquidation organized by a court with the rules of liquidation committed by a company on voluntary basis as a result from the court's lack of necessary compulsory measures and system guarantee, and in the missing of the system of special liquidation of companies. Profound research shall be done on the special liquidation system of foreign countries, and by reference to which, reconstruct ours in light of the specific situation of our country with a view to establishing a practical system on special liquidation of companies of our own characteristics. |
PDF Full Text Request