11
2024-11
Perspective | Discussion on the Nature of Buyback Rights and Exercise Period in Betting Agreements
On November 14, 2019, the Supreme People's Court (hereinafter referred to as "the Supreme Court") issued the "Work Summary of National Courts on Civil and Commercial Trial Meetings" (hereinafter referred to as "the Nine Civil Summaries"). Article 2 of the Nine Civil Summaries confirmed the validity of the "betting agreements" made between investors and the shareholders or actual controllers of the target company, stating that "the 'betting agreements' made between investors and the shareholders or actual controllers of the target company shall be deemed valid and supported for actual performance, unless there are other invalid reasons, and there is no dispute in practice." The Nine Civil Summaries affirmed the validity of the betting agreements made between investors and the shareholders or actual controllers of the target company. However, there is still no consensus on the issues related to the performance of these agreements in the later stages, especially regarding the nature of the repurchase rights in the betting agreements, the performance period of the repurchase rights, and the determination of the starting point for the period, and disputes in practical handling continue.
2024-11-11
05
2024-11
In the execution of cases within a company, the company as the party being executed often faces situations where it cannot repay its due debts. During the execution process, if the debtor company is unable to fulfill its debt obligations, the creditor can file an application with the court to add shareholders who have defects in their capital contributions or those who have not fully paid their contributions as parties to the execution. The creditor can request these shareholders to bear the responsibility for the defects in their contributions or for the accelerated maturity of their contributions. In judicial practice, the court agrees to the addition mainly for the reasons that the company has no assets available for execution and there is evidence proving that the shareholders have not fully paid their contributions or there are other statutory circumstances. The court rejects the application mainly when the applicant fails to provide the aforementioned evidence or when the evidence submitted by the shareholders is sufficient to prove that they have fully paid their contributions or that there are no statutory responsibilities to bear. Combining the provisions of the Company Law of the People's Republic of China (hereinafter referred to as the "Company Law"), the Minutes of the National Court's Civil and Commercial Trial Work Conference (hereinafter referred to as the "Nine Civil Minutes"), and the Supreme People's Court's "Regulations on Changing and Adding Parties in Civil Execution" (hereinafter referred to as the "Change and Addition Regulations"), this article analyzes the specific circumstances under which shareholders can be added as parties to the execution by distinguishing between types of companies, and elaborates on how to add shareholders as parties to the execution in judicial practice.
2024-11-05
05
2024-11
In early 2007, Mr. Li established X Tian Company with an initial registered capital of 500,000 yuan, in which Mr. Li held 80% of the shares and contributed 400,000 yuan. In September 2008, Mr. Li married Ms. Zhang, and they had a son and a daughter after marriage. During their marriage, X Tian Company underwent four rounds of capital increase, with Mr. Li's contribution rising to 18 million yuan, holding 90% of the shares, and his actual contribution reaching 14 million yuan, while Ms. Zhang was not registered as a shareholder of the company. X Tian Company served as the main business for both spouses, and they subsequently established more than ten other enterprises. Additionally, during the marriage, Mr. Li purchased 18 properties (including one overseas property) in his personal name, while Ms. Zhang's income mainly came from her monthly salary of 15,000 yuan from working at X Tian Company, and she had no knowledge of the scale and situation of Mr. Li's assets. In October 2023, due to a breakdown in their relationship, Ms. Zhang decided to entrust the lawyers of this team to file for divorce in court. After accepting the commission, the team lawyers completed the online filing on October 16, 2023, but during the pre-litigation protection process, it was discovered that on October 19, 2023, Mr. Li transferred all the shares of X Tian Company to Y Hai Company, which he controlled. In December 2023, the court ruled against the divorce between Mr. Li and Ms. Zhang.
2024-11-05
05
2024-11
Perspective | A Guide to Key Points for Foreign Natural Persons in Litigation in China
In the context of globalization, China's legal system is becoming increasingly open, and more foreign individuals are involved in legal disputes within the country, necessitating the hiring of Chinese lawyers to handle these matters. This article will introduce the procedures for foreign individuals to appoint agents during litigation in China, as well as the preparation of evidence, with the aim of improving the efficiency of handling such cases.
2024-11-05
05
2024-11
Perspective | Special Regulations on Financial Data Compliance from the Data Entry of a Certain Bank
Recently, the author conducted a data compliance assessment for a certain bank's data assets. The bank's data was purchased from a third party and can be queried and used through an API interface with the authorization of the information subject. Relying on the data accumulated over the years, the bank has constructed statistical indicators from different business dimensions; built evaluation models based on intelligent algorithms; and introduced information on dishonest individuals and enterprises as references for risk assessment, forming the "Smart Risk Control Data Model" of the bank. This data model can provide data support for loan admission, anti-fraud, credit limit calculation, rating, pricing, and other services. It can also be applied to internal operational management, optimizing the risk control system and improving service efficiency and quality through relevant data resources.
2024-11-05
01
2024-11
Perspective | Quick Q&A on Labor Dispute Arbitration - Matters of Timeliness
Quick Q&A on Labor Dispute Arbitration
2024-11-01
31
2024-10
Perspective | "Double Eleven" Online Shopping Legal Guide
With the continuous advancement and popularization of internet technology, online shopping has become an indispensable part of people's daily lives. For shopping festivals like "Double Eleven" and "Double Twelve" launched by e-commerce platforms, everyone eagerly anticipates them, preparing to return "loaded with goods." During these events, merchants introduce various marketing strategies such as "pre-sale," "discounts," and "group buying," making the already bustling online market even more lively. However, behind this prosperity, the legal risks of online shopping have also increased. This article takes the "Double Eleven" shopping festival as an example to explore the various legal issues that may arise during the online shopping process. These issues include but are not limited to consumer rights protection, product quality assurance, and after-sales service guarantees. By systematically sorting out these legal risks, this article aims to provide a legal guide for consumers, helping them to enjoy the convenience of online shopping while more rationally avoiding potential legal risks.
2024-10-31
30
2024-10
Perspective | Legal Research on Substantive Changes and Handling Methods in Bidding and Tendering
This article aims to explore the legal attributes, risks, and handling methods of substantial changes in bidding activities. By interpreting the "Bidding Law" and related regulations, and combining practical case analyses, this article examines the illegality of substantial changes and their potential negative impacts, while proposing legal and compliant handling methods, in order to provide legal support for the smooth conduct of bidding activities.
2024-10-30
30
2024-10
Perspective | An Analysis of Legal Applicability Issues in Government Procurement Projects
In practice, some purchasers and agency institutions confuse government procurement projects that must be tendered with those that do not have to be tendered, leading to confusion in the application of the law and affecting the smooth progress of procurement. This article combines current legal provisions to define government procurement projects that are subject to the Tendering and Bidding Law, in order to accurately understand the distinctions and correctly apply the legal provisions.
2024-10-30
25
2024-10
Under the current legal system in our country, arbitration is an important method within the diversified dispute resolution mechanisms. There are mainly two remedies for dissatisfaction with arbitration awards: one is to apply for the annulment of the arbitration award, and the other is to apply for non-enforcement of the arbitration award. Article 58 of the Arbitration Law of the People's Republic of China stipulates the legal circumstances under which one can apply for the annulment of an arbitration award. This article mainly focuses on cases applying for the annulment of arbitration awards, specifically examining the common situation under item (1) of Article 58, which states "no arbitration award exists," in order to assist in the handling of cases applying for the annulment of arbitration awards.
2024-10-25
Zhongcheng Qingtai Jinan Region
Address: Floor 55-57, Jinan China Resources Center, 11111 Jingshi Road, Lixia District, Jinan City, Shandong Province
