公司吸收合并法制之检讨

Reflection on the Law of Merger

公司吸收合并应有正当化的基础,并对多元化的利益主体予以保护。在立法上,应对合并程序予以规范,合并协议应经批准后生效;合并涉及种类股时,应分别经不同种类股东会决议的同意;对合并有利害关系的股东,应排除其表决权。应以司法解释的形式对反对派股东股份回购请求权制度实施中关于程序问题,如请求权行使的主体、启动条件、具体操作步骤、补救措施及评估程序等作出详细规定。对债权人异议未予清偿或提供担保的,虽不导致合并无效,但在对债权人的损害赔偿关系上应不承认合并的效力,仍承认因合并消灭之公司的存在与义务。

Corporation acquisition and merging must operate on a proper basis, in the course of which the multi-subjects of interest must be well protected. In legislation, the merging procedures must be regulated and the stipulation will not take effect until approved. Different shares involved, the acquisition must obtain the approval of each board of shareholders, among whom those with a stake in it should be excluded. Detailed regulations should be established to guarantee the appraisal right of dissenters. The interest of creditors must not be damaged in the course of merging.