论控制股东和实控人滥用公司控制权时对弱势股东的赔偿责任

The Compensation Liabilities to the Minority Shareholders by the Controlling Shareholders and the Actual Controllers Abusing Corporate Control Right

控制权是派生于股东资格的私权,更是公司治理之公器。控制权滥用侵害弱势股东权益,违反诚信原则和禁止权利滥用原则,构成侵权背信,应对受害股东承担赔偿责任。要严格甄别股东直接损害与间接损害:前者由股东直接诉讼予以救济,后者属公司损害范畴,由公司直接诉讼或股东代表诉讼予以救济;若二者区分丧失必要性、正当性或可操作性,股东损害应被识别为直接损害。确定股东损害的最佳度量衡是资产负债表中的股东权益。建议《公司法》赋予股东代表诉讼胜诉原告基于持股比例的胜诉利益分取请求权。股东间接损害请求权随着股东资格走的原则并不绝对。建议裁判者在控制权滥用者恶意低价受让受害股东所持股权的情形下自动将前股东间接损害识别为直接损害,允许其提起股东直接诉讼。前股东就其直接损害享有的诉权不应被剥夺或限制。滥用控制权的控制权共同体成员要承担连带责任。控制权共同侵权源于公司治理失灵。公司兼具受害者和共同侵权者双重角色。公司对受害股东承担责任后可向控制权人求偿。建议《公司法》导入诚信原则和"控制权"概念,将"控股股东"易名为"控制股东",确立控制权人对公司和全体股东的信托义务。

The right of control is both a private right derived from the qualification of shareholders and a public tool of corporate governance. Control rights abusers infringe against minority shareholders, violates the principles of good faith and prohibition of abuse of rights, constitutes infringement and breach of trust, and shall be liable for compensation to the victim shareholders. It is necessary to strictly distinguish the direct damages and indirect damages of shareholders: the former is relieved by the shareholders’ direct lawsuit, the latter belongs to the company’s damage category and can be relieved by corporate direct lawsuit or shareholder derivative lawsuit;if the distinction between the two loses the necessity, legitimacy or feasibility, shareholder damage should be identified as direct damage. The best measure for determining shareholder damage is shareholder equity on the balance sheet. "Company Law" should pemit the plaintiff to claim the winning benefit based on his shareholding ratio. The principle that the shareholder’s claim for indirect damage follows the shareholder’s qualification is not absolute. The former shareholders’ right of action for their direct damage shall not be deprived or restricted. All members of control group who abuse their control rights shall be jointly and severally liable. "Company Law" should introduce the principle of good faith and the concept of "controlling power", and establish the fiduciary duty of the controller to the company and all shareholders.