Disputes about corporate expression absorption and their legal remedies

Corporate expression is the expression that a company gives to the outside in its capacity as a legal entity. Often referring to resolutions made by shareholder meetings and the board of directors, based on good faith and bound by contractual spirit, a company must be held liable for its expression. Corporate expression absorption refers to the corporate behaviors and situations wherein the majority voting shareholders and directors replace the will of the minority voting shareholders and directors within their own will. Among them, the majority voting shareholders at a shareholders’ meeting (shareholders’ general meeting) are decision-making shareholders, and directors, managers and other senior management staff that decide corporate affairs are called decision-making members. Corporate expression absorption consists of two sorts: absorption by shareholders’ meeting and absorption by the board of directors. Shareholders’ meeting is a company’s authoritative organization; when the voting rights of some shareholders exceed the statutory limit, they will be able to manipulate the expression of shareholders’ meetings and replace the will of other shareholders with that of their own. The expression absorption by the board of directors refers to the practice wherein the majority directors decide on important corporate matters in accordance with the majority rule. Thus, it can be seen that the corporate expression absorption is a double-edged sword, not only capable of uplifting operational efficiency but also likely to help decision-making shareholders achieve personal gains and transfer corporate interests. As for the disputes of corporate expression absorption, the following legal remedies might be adopted: (1) Limit the voting rights of decision-making shareholders. (2) Provide shareholders with veto power over specific events. (3) Ask the chambers of commerce (industry associations) to arbitrate specific events. (4) Preserve the market value of shares held by dissenting directors. (5) Expand cumulative voting; (6) Provide shareholders the right to exit. (7) Legal remedies for corporate deadlock. (8) Shareholders’ derivative lawsuits. __________ Translated from China Law, No. 4, 2005     

论人权的司法最终救济性

人权,一般意义上理解为“人作为人’应当享有的权利,其最根本的价值就在于通过现代法治社会制度上的设计,使人权这种价值得到最彻底地实现。其中,司法在国家职能中县有保障人权实现的最终救济功能。…….     

Independent medical review: expanding legal remedies to achieve managed care accountability

Author Leatrice Berman-Sandler reports on independent medical review (IMR), a state-based statutory remedy used to resolve disputes over coverage between patients and their health plans. Ms. Berman-Sandler explores the connection between ERISA preemption and IMR, and opines that in light of recent Supreme Court decisions, the stage has been set for expansion of IMR. Accordingly, Ms. Berman-Sandler concludes that there are strong legal and policy reasons for state legislatures to broaden the application of IMR and for the Court to continue to narrow ERISA preemption in order to increase accountability in the managed care arena.     

信用证欺诈法律救济的理论发展过程及其评述

信用证欺诈的频频发生,引起了人们关于对信用证欺诈的法律救济措施和法律救济理论的关注。本文重点论述了信用证欺诈法律救济理论及其发展的三个阶段,即:“禁止法院干预学说”阶段、“限制法院干预说”阶段和“法院依法救济说”阶段。本文还结合具体的案例对三个阶段的理论进行了具体和深入的分析。     

《食品安全法》实施中的若干法律问题探讨

<食品安全法>实施时间不长,但已经暴露出一些亟待解决的法律问题:如执法主体不符合法定要求、部分法律规范逻辑不完整、原有立法法律效力不确定、部分法律用语与法律条款语义不清等.这些问题的解决需要立法者转变宜粗不宜细的立法思路,使立法更为精细化,同时更需要执法者能动地发挥执法功能,探求法律真意,用耐心和智慧维护食品安全秩序.     

Chronic beryllium disease prevention program; worker safety and health program. Final rule

The Department of Energy (DOE) is today publishing a final rule to implement the statutory mandate of section 3173 of the Bob Stump National Defense Authorization Act (NDAA) for Fiscal Year 2003 to establish worker safety and health regulations to govern contractor activities at DOE sites. This program codifies and enhances the worker protection program in operation when the NDAA was enacted.     

Horizontal mergers, efficiency gains and remedies

The combination of structural remedies and efficiency gains in a merger may lead to pro-competitive outcomes, thus maintaining pre-merger prices. Two types of efficiencies are necessary. The first corresponds to a flatter marginal cost function, the second to a decrease in the intercept of the marginal cost curve. If these efficiency gains are not sufficient to keep the post-merger price at the pre-merger level, then divestitures by the resultant merged entity are adopted. This paper allows a comparison between two kinds of divestitures and it can be shown that, depending on the efficiency gains, divested capital distributed among the remaining competitors in the market is optimal when compared to divested capital being placed on the hands of a single competitor.     

临床法学教育与新世纪法学人才的培养--平等式对话教学方式的魅力

高等法律教育是我国教育事业的一个重要组成部分,担负着为市场经济建设与民主法制建设培养高层次专业人才的重要任务.在更新教育观念,转变培养模式,强化能力培养的教育改革的形势下,作为大学法学院应该教给学生什么?我们不可能在有限的四年时间内教给学生今后一辈子所需的各种法律知识.况且法律变化频繁,知识更新快捷.学校教师传授知识固然重要,但更重要的是教给学生分析、辨别、创造知识的能力.     

Youth gangs and unions: Civil and criminal remedies

This paper revisits James Jacobs’ interest in prison gangs. We first address criminologists’ neglect of labor corruption, then discuss the street and prison gangs with which Jacobs was concerned and societal responses to them. Subsequent trends in street gangs and efforts to control them are reviewed and compared to recent organized crime control efforts. Special attention is given to civil gang injunctions (CGIs), the most popular civil remedy for street gangs, and special problems they create for prison gang members who return to their communities. Research and policy in this area require that the great variety among communities as well as street and prison gangs be recognized.     

Sequencing of remedies in sales law

This paper analyzes the effects of different sequences of remedies on the incentives of sellers to invest in product quality and on the probability of contract termination. For most European jurisdictions, Directive 1999/44/EC on the sale of consumer goods and its subsequent implementation into national law resulted in a substantial change in the remedies available to the consumer if a product proves deficient. Despite the purpose of the directive to harmonize national legislation, sales laws still differ significantly among member states. The analysis uses a stylized model to compare the pertinent features of two prototypical legal regimes that can be found after the directive’s implementation. The pivotal difference between the respective regimes lies in the sequence of remedies. We show that it is possible that investment incentives and the probability that contractual relationships initiated will be completed may be larger under either legal regime. Despite the general case’s ambiguity, we establish that the cancelation probability is typically lower if sales law limits buyers initial choice of remedies to subsequent performance. Our analysis indicates that the EC’s harmonization target has been missed. With regard to social optimality, we detail under which conditions it is desirable to provide an institutional framework that allows total seller investment to be split between an initial and an incremental input.