Application of “Deep Rock” Doctrine and Its Reference 法律英语论文

Application of “Deep Rock” Doctrine and Its Reference 法律英语论文

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时间:2017-07-14

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1、Applicationof“DeepRock”DoctrineandItsReferenceAbstract:Withthedeepeningoftheeconomicglobalization,corporationplaysamoreandmoreimportantroleintheworld.Corporationasagreatinventionownsanindependentpersonality,whichbringsusboomingeconomy.Butonceabusedintentionally,itwilldeg

2、enerateintoaninstrumenttodefraudthecreditorsorthepublic.Inordertodecreaseitsnegativeeffectsandsustaintheboomingmarket,“DeepRock”doctrineaswellastheDisregardingoftheCorporateEntity,isfirstlyusedintheAnglo-Americanlegalfamiliestoregulatethecorporation,althoughChinaaccepted

3、theinstitutionofdisregardingofthecorporateentityinthenewCompanyLawofthePeople'sRepublicofChina,“DeepRock”doctrineisstillneitherembracedinitorinthenewlyenactedLawofthePeople’sRepublicofChinaonEnterpriseBankruptcy.Thisarticleespeciallypressesonthecomparisonbetweenthetowfor

4、esaiddoctrinesandaimstogivethepracticalmethodtoapplyitinChina.Keywords:“DeepRock”doctrine;DisregardingoftheCorporateEntity1Introductionof“DeepRock”doctrineCorporationistheproductofthematureeconomy.Onceborn,thisgreatinventionshowsitsamazingpowerinthedevelopmentofmarketand

5、soonbecomestheengineoftheeconomy.Allitsadvantagescanbeattributedtoitstwofootstones—independentpersonalityandlimitedliability,however,everycoinhastwosides;everybusinesscompanyisorganizedandcarriedonprimarilyfortheprofitsoftheshareholderswhichconflictsthepublicinterest,and

6、itsmeritsalsocanbepervertedasaninstrumentforapprovingtheevilswhichimpairtheinterestsofthecreditorsandthepublic.Inthedevelopedcountries,especiallyintheU.S.A.,thedilemmaproveditselfmoreandmoreobviously.Therefore,theDisregardingoftheCorporateEntitywasconfirmedbyaseriesofjud

7、gment,subsequentlysomeimportantprinciplesanddoctrinesdeveloped,deeprockdoctrineisoneofthem.“DeepRock”doctrineisaruleofbankruptcylawintheUnitedStates,whichisdevelopedbytheU.S.SupremeCourtinthecaseofTaylorv.StandardGasCo.,306U.S.307(1939).Therulerequiresthat,whereasubsidia

8、rycorporationdeclaresbankruptcyandaninsiderorcontrollingshareholderofthatsubsidiarycorporationassertscl

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