企业兼并重组中的若干公司法问题——以煤炭资源整合实践为例

Several Issues on Corporate Law in Annexation and Reorganization of Enterprises:Exemplified by the Coal Resource Integration

在全国展开的煤炭企业兼并重组实践,折射出我国公司法律制度的若干不足。完成名称预先核准登记后,设立中公司形成并享有相对独立的地位和相应的民事能力,应比照已成立公司来确定其内外法律关系:内部,发起人之间应按照资本多数决而非合伙人平等表决原则形成团体意志,依循公司治理原则界定设立中公司与初始股东、筹建代表和成员的责权利关系;对外,应当以设立中公司名义而非发起人、成立后公司名义从事法律行为,防范角色混同之下的利益冲突,避免先公司合同责任的甄别之扰。对于兼并重组中出现种种瑕疵的股权转让协议,应区分主体瑕疵、内容瑕疵和程序瑕疵等不同情形,具体分析认定其法律效力。

Some deficiencies could be found in the practice of Chinese coal enterprise integration and restructuring. Once the name of company is checked and registered, the establishing company should be entitled to independent position and corresponding civil capabilities and its internal and external legal relations should be defined in contrast with the established company. Internally, group will is formed according to capital in majority but not equal vote among promoters and the relationships among establishing company. Initial shareholders, representatives and group members should be defined according to the principle of corporate governance. Externally, legal behavior is engaged in the name of establishing company but not promoters or company after being built for avoiding interest conflicts and troubles in distinguishing liabilities to pre--corporation contract. Various flawed equity transfer agreements came out in the M^A, so subject flaw, content flaw or procedure flaw should be differed and their legal effects should be specifically analyzed.