The Case Analysis On Shareholder's Information Rights Dispute Of Choi V. Real Estate Consulting Co. Ltd

With the development of modern enterprises, the ownership and the managerial authority are isolated day by day, which makes a great expansion of the power of the management like board directors, supervisors, managers. However, the shareholder, as the owner, can only manage the enterprise indirectly, which results in great information asymmetry that got by the shareholders and the management. The shareholder's information rights dispute frequently occurs and brings about many arguments in trial practice. The shareholder's information rights dispute between Choi and Real estate consulting co. Ltd is one of the typical cases. How to determine the subject qualification rights?the scope of the information rights?the way to exercise the information rights, the allocated-principles of giving testimony liability is an important and difficult point to understand and deal with this case. By analyzing this case, we can draw conclusions as follows: Choi can only file the lawsuits on shareholders' information right as a shareholder; Based on the rationality and necessity on shareholder's consulting the accounting documents, the shareholders should be allowed to consult not only accounting books but also the accounting documents. To overcome the limitations and inefficiency of shareholders' exercising the inspection right alone that brought by their own education and insufficient professional knowledge, it's necessary to allow the shareholders to entrust the professionals to consult the accounting books of the company. On the basis of not harming the lawful rights and interests of company; As to the allocation of proof burden, both the shareholders and the company need to put to the proof of their proper aim. To solve this kind of information right disputes?protect the shareholders' legal rights?ensure the normal operation of market economy, our country should fill the blank of relevant legislation as soon as possible.