摘要
就国内投资界而言,'对赌'一词颇具热度,从对赌的主体上看,对赌有投资方与目标公司股东或者实际控制人的对赌,也有投资方与目标公司的对赌。在实践中,投资方与目标公司对赌的效力问题广受讨论,对此问题,最高人民法院于2019年8月7日发布的《全国法院民商事审判工作会议纪要(最高人民法院民二庭向社会公开征求意见稿)》中明确了新的裁判规则,然而实践中对赌所面临的问题,远非协议效力这么简单.
In practice, the issue of effectiveness of the Valuation Adjustment Mechanism(VAM) between the investor and the target company has been widely disputed. Problems facing VAM go farbeyond the effectiveness of agreement. Even if the VAM between the investor and the target company or actual controller is confirmed valid, management of the target com-pany still oftentimes faces huge challenges.
出处
《法人》
2019年第10期90-93,4,共5页
Faren Magazine
