认缴资本制下对债权人利益的保护

Protection of Creditors’ Interest in Subscription Capital System

2013年修订的《公司法》将公司资本制度由实缴制改为认缴制,因此在公司注册登记之时,股东只用认缴相应的注册资本即可。但是首先,实行认缴资本制会导致注册资本的担保功能丧失,给债权人的合法权益带来不利影响。其次,在二元资本公示格局下,由于债权人难以及时获知公司资本的实际到位情况,加之股东出资催缴程序的不完善,更是将债权人的利益置于不利境地。为此,应当强化公司信息披露机制,构建股东出资责任加速到期制度,正确适用法人格否认制度,从而更好的保护债权人的利益,实现股东、公司和债权人三方的利益平衡。

In 2013 the revised edition of "Company Law" replaced paid-in capital system with subscription capital system. As a result, the registration of a company simply requires the capital subscribed by all the shareholders. However, the implementation of the subscribed capital system not only results in the loss of avouching function for the registered capital, but also makes it difficult for the creditors to learn the actual availability of the company's capital timely in the context of dual structured capital disclosure. The imperfection of the shareholders' payment procedures thus put the interests of the creditors at a disadvantageous position. Consequently, it is necessary to strengthen the company's information disclosure mechanism, build a shareholder's responsibility to accelerate the expiration, and properly apply the legal personality denial system, so as to better protect the interests of creditors and achieve the balance of interests among shareholders, companies and creditors.