A Disscussion On The System Of Voting Trust

Constant experience shows us that every man invested with power is apt to abuse it. In the last few years, the development of company has already been perplexed deeply by serious phenomena—majority shareholders abusing the holding position against interests of minority shareholders legitimate, and the infringement of rights of minority shareholders. Protecting the legal right and interests of minority shareholders has been an issue in the academic circles. In fact, the key of majority shareholders against minority shareholders is to control the company. The voting right is the tool of fighting the company control among shareholders. It is also the efficient way to protect the rights and interests of minority shareholders. Although the cooperation law has many regulative efficiency in the protection of the minority shareholders in the joint-stock company, it's not too enough. Especially, as an efficient way of protecting minority shareholders, voting trust is not an express provision in our country's law. The system of voting trust originated from the United Stated which has a developed company system. In the operation of American companies, the system of voting trust plays a unique role, such as ensuring stability and continuity of company governance, safeguarding the interests of creditors and assisting the restructuring of the company, in particular, it has operation significance for protecting the rights and interests of minority shareholders. So, we should strengthen protecting of exercising voting trust to realize the function of voting trust, we can choose voting trust as a means to realize this purpose.However, in our country, legal research in such area is not so much as expected, the law of corporation and the trust law have not such regulation. Therefore, this article firstly introduces the elementary theory of voting trust, expounding origin, the meaning, the characteristic, the essence of voting trust and so on. At the same time, through the comparative study between the system of voting and the company law and other related fields, this article clears the links and the distinctions between the system of voting trust and the legal system related. Secondly the author studies the functions of the system of voting trust and the feasibility of introduction. Thirdly the article studies the procedures and related requirements of the system of voting trust, especially, focusing on the study of rights and obligations between the parties of the trust vote. Finally, Aim at the proper limitation of the voting trust, it gives some juristic countermeasure.