On Study About The Litigation Of The Company Liquidation

Company liquidation refers to liquidation carried out according to the CompanyLaw, due to reasons not including bankruptcy, merger or separation. In general, theliquidation of company litigation by the specific action should include the followingfour cases.(1) beyond the statutory time limit does not establish a liquidation group;within the statutory time limit before the expiration of the term, liquidation obligorfails to organize a liquidation group; and in the legal time limit before it expires,liquidation group can not be set up due to the liquidation obligors disagreement.(2)does not complete the liquidation and settlement does not reach consensus inextension upon the expiration of the period; liquidation period has obvious delaysettlement act.(3) the illegal liquidation has damaged or may seriously damage theinterests of the creditors and shareholders, this is a catch-all clause.(4) Withoutliquidation is deregistered, creditors of revocation of company registration institutedagainst the company liquidation suit case. Company liquidation proceedings shouldnot only be the creditors’ or shareholders’ requesting court for the liquidation groupdesignated to start liquidation. The creditors or shareholders litigation’s requestshould also include the request that court ordered the company and liquidation obligorto fulfill the obligations of liquidation in a certain period of time. Therefore theplaintiff’s claim to bear people including not only the company but also a liquidator,the liquidation of the company, so, the defendant should be a company or liquidator.In accordance with the Company Law and the provisions are creditors andshareholders. If the liquidation of the company were not successful, the shareholdersand creditors who may be subject to damage, based on the protection of the rights oflitigant theory, should have the independent right of action in order to be able toinitiate an action in its own name. Company Law and judicial interpretation stipulatesthree instituted situations against the company liquidation action, but its provisionswere not specific enough and at the same time missed some situations that can be asthe company liquidation procedure. Company liquidation proceedings in the specificapplication of the rules are the embodiments of the court and parties to promote theexpansion of proceeding, Company Law and Civil Procedure Law for the specified isnot perfect, which gives the court high discretion in this area, also therefore the company liquidation proceedings in the exercise of discretion has put forward higherrequirements.