Category: Money Tips Date: 2007-01-12
Comrade Zhou:
Read your newspaper, published yesterday, the "less aware of dividends, minority shareholders angrily reports the company," a text, I would like to know, a limited liability company's shareholders the right to know was how to provide it?
Shanghai Ho
Ho:
Since the release of China's Supreme People's Court, in its "civil cause of action provisions (for trial implementation)" will be the company's right to know as a cause of action, the right to information disputes, and gradually incorporated into the judicial relief channel, we, as practicing lawyers also has represented shareholders the right to know the case. We believe that the shareholders the right to know the case, should pay attention to the following questions:
1, with regard to shareholders, financial and accounting reports, important documents, access to the right of reproduction
Whether the right is based on the inherent right of shareholders, the company's defense can only be that the person is not a shareholder, other reasons is very difficult to set up. Undertaken in our case with the shareholder's right to know the court that: the shareholders the right to know the inherent legal right ... ... even if the shareholders of the shareholders in the discharge of obligations flawed, but it does not affect the exercise of the right to know as a shareholder. We believe that the courts of this view is correct.
2, on the accounting books of the right of access
In the exercise of the right to judicial relief process, the shareholders must first prove (a) has made a written request, (2) Description of the purpose of the inspection, (3) Company shareholders 15 days after the request was rejected, or, upon request, within 15 were not reply. For shareholders access to the accounting of the burden of proof that has an improper purpose, we believe that the burden of proof rests with the company. Accounting books and access rights are the rights of shareholders, the company you want to limit the burden of proof should be by the company.
3, on the subject of proceedings
Shareholders the right to know have been violated, the plaintiff can only be damage to shareholders, and the defendant shall be a corporation. In Fujian, there had been cases of the shareholder's right to know in a shareholder would obstruct their right to know the actual realization of the controlling shareholder as the sole defendant, was rejected by the court. But in fact the shareholder's right to know is often the case is due to controlling shareholders or actual controllers of the obstruction caused by, so we believe that their right to dispute the right to know can be achieved to block shareholders, shareholders or actual control by the person as a co-defendant of its liability. In the United States has senior staff to implement if the company has wrongfully refused to grant a statutory right of access, impose penalty system in our country at this stage there is a reference necessary. (Law Firm, Shanghai Fu Xuan-Jie Zhu Hui Chen Huiying)
