Research On Accelerated Expiration System Of Shareholder's Capital Contribution Under The Subscribed Capital System

At the end of 2013,the Company Law reform has completely changed the registration system of subscription and payment.This reform cancelled the minimum registered capital threshold to setup a company,and eliminated the proportion of initial capital contributions,so did the requirement of the statutory verification procedures.Even,the new system gave the shareholders the authority to determine the subscribed period for full payment of capital as their will.In the current background of the poor social credit environment and the imperfect post-regulatory system,the bold reform reduced the cost of setting up a company,which is beneficial for reducing the burden on investors,enhancing market vitality,and promoting the full flow of capital,on the other hand,it also caused the shareholders' abusing of term interests which seriously damaged the legitimate rights and interests of creditors.Meanwhile,this reform did not synchronously renew the creditor protection system which was still based on the previous company capital system.The conflicts between the old and new systems brought a confusion in the application of law: In the case of non-bankruptcy,the company objectively fails to pay off the creditor's due claims due to insufficient liquidity,and the shareholder's investment period has not expired.Can the creditor directly request the shareholders to undertake the responsibility of compensation for the debt which means requesting shareholders to contribute capital with acceleration of the expiration?The lack of such legal norms has led to the lack of clear and uniform referee standards in the judicial practice.The cases in which the creditors have requested additional compensation for the shareholders who have not made the capital contribution because of their investment period have shown a big difference from the legal reason to the referee results which means different judges in the alike cases.Therefore,the establishment of accelerated expiration system of shareholder 's capital contribution is related to the rigor of the corporate law system.It is also related to the protection of creditors' interests and the maintenance of judicial authority.It is an urgent problem to be solved in the field of corporate law.The research of this paper is aimed at this,and it is composed of introduction,body and conclusion.The text is divided into five parts.The specific contents are as follows:The first part mainly introduces the new problems brought by the reform of the subscription system to the protection of creditors.From the perspective of the fail of capital,the abuse of term interests by shareholders,and the insufficiency of company information disclosure,the combination of theory and examples is used to clarify the connection between the establishment of accelerated expiration system of shareholder 's capital contribution and the resolution of these legal issues,laying the groundwork for the following reasons.The second part defines accelerated expiration system of shareholder 's capital contribution.After which it subdivided the accelerated expiration system of shareholder 's capital contribution based on the difference between the initiator and the legal consequences,and the different positions in the life stage of the company.Then the main research objectives of this paper were determined,and other systems were briefly explained.The third part mainly uses the empirical analysis method through the comprehensive investigation of multiple databases and the setting of cautious and strict screening criteria,the graphical display of the judgments relevant to the shareholders' accelerating expiration.The focus of the referee results is summarized,and the specific cases are explained in order to analyze the status quo and trend of disputes of accelerated expiration of shareholder 's capital contribution.The fourth part mainly summarizes the controversial focus of the case,and evaluates the different viewpoints of the opposing parties to seek the necessity and rationality of establishing the accelerated expiration system of shareholder 's capital contribution.The fifth part puts forward the rationale and choice of the legal basis of accelerated expiration system of shareholder 's capital contribution and design the specific structure of accelerated expiration system of shareholder 's capital contribution.In the following part,it explains its connection with the execution procedure and bankruptcy liquidation procedure.The necessary auxiliary system-the problems and solutions of the company's information disclosure system are explained at last.