Responsibility of shareholders of a joint-stock company: analysis of legislation and judicial practice
DOI:
https://doi.org/10.35774/app2019.01.095Keywords:
limited liability, risk of losses, penetration of corporate veil, shareholder, joint-stock company, law, statute, contractAbstract
The article outlines the scope of application of the institute of civil liability to shareholders of a joint-stock company. It is determined that the founders of the joint-stock company bear soldiery responsibility for the obligations of the company, while shareholders bear limited liability within the value of their shares repurchased. The necessity of introducing at the legislative level the procedure of “raising the corporate veil” is justified in case of bringing a joint stock company to bankruptcy by its shareholder or declaring it insolvent. The possibility of liability for a shareholder in case of violation of corporate rights or non-fulfillment of corporate obligations to shareholders and joint-stock company is determined. The reasons for liability of shareholders of a joint-stock company, which may be a law, a charter or a contract, are outlined.
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