论公司收购中控股股东的诚信义务

On the Fiduciary Duty of the Control Shareholders in the Course of Buying Over the Corporation

在公司收购过程中 ,不论是收购方还是目标公司内部都存在控股股东和广大中小股东不同的利益诉求。相对于小股东来讲 ,大股东滥用其优势地位损害公司其他利益主体利益的机率较高。因此建立控股股东诚信义务规则与平衡大股东和中小股东的权益之间是息息相关的。控股股东诚信义务原则的确立 ,是对传统公司法理论中的资本多数原则、表决权自由行使原则和有限责任理论的扬弃和修正。控股股东的诚信义务主要包括控股股东的忠实义务和注意义务。其基本要求是 ,当控股股东自身的利益和其他利益主体的利益发生冲突时 ,控股股东应将其他利益主体的利益放在首位 。

In the course of buying over a corporation, there exist different demands in the control shareholders and the wide medium and small shareholders whether they are buying over side or in the inner part of the target corporation. Comparatively speaking, the interest of the medium and small shareholders is easily infringed upon by the control shareholders with their superior position. So, it is important to set up the fiduciary duty rule for control shareholders and regulate the right and interest of all the shareholders and it is the sublation and the modification of the capital majority principle, the free use of vote right and the limited duty theory in the traditional corporate legal theory to set up fiduciary duty rule for the control shareholders. The fiduciary duty for the control shareholders mainly includes the honest duty and the attention duty, whose basic demand is when the interest of the control shareholder and that of other shareholders contradicts, the control shareholders should put other shareholders'interest first but not implement any harmful action to them.