개정상법상 기업조직재편제도의 개선내용 및 그 전망 －상장회사의 현황과 관련하여－
Amendments to the Korean Commercial Code Provisions on Corporate Restructuring and Their Prospects
0
조회
0
다운로드
5
인용
0
참고문헌
키워드
초록
The amended Korean Commercial Code was passed in the National Assembly in March 2011 and will take effect in April 2012. Corporate restructuring means the process of redesigning one or more aspects of a corporation with the purpose of positioning it to be more competitive. This study intends to introduce main changes to the corporate restructuring-related provisions and foresee their development. An inspector’s ex post investigations and court reports concerning contributions in-kind may be exempted in certain circumstances. When there is the issuer’s consent, the debt-equity swap may be executed. The cash-out merger and the triangular merger which are modelled after U.S. law are incorporated in the Korean Commercial Code. The squeeze-out of minority shareholders is permitted as long as their sell-out rights is guaranteed. Scope of small-scale merger exception expanded. Various classes of shares with certain kinds of special features may be issued under the new commercial law. The acquisition or holding of a treasury stock is permitted as a general rule. The corporation should deliver a written notice when it issues shares to the third party. If legal reserve exceeds 150% of paid-in capital, the corporation will be free to use such excess. In case of business transfer which does not have a material effect on the transferee’s business, the appraisal right is not granted to transferee’s shareholders. To sum up, the amended Commercial Code will make the corporate restructuring procedures more flexible than the current Commercial Code.
Abstract
The amended Korean Commercial Code was passed in the National Assembly in March 2011 and will take effect in April 2012. Corporate restructuring means the process of redesigning one or more aspects of a corporation with the purpose of positioning it to be more competitive. This study intends to introduce main changes to the corporate restructuring-related provisions and foresee their development. An inspector’s ex post investigations and court reports concerning contributions in-kind may be exempted in certain circumstances. When there is the issuer’s consent, the debt-equity swap may be executed. The cash-out merger and the triangular merger which are modelled after U.S. law are incorporated in the Korean Commercial Code. The squeeze-out of minority shareholders is permitted as long as their sell-out rights is guaranteed. Scope of small-scale merger exception expanded. Various classes of shares with certain kinds of special features may be issued under the new commercial law. The acquisition or holding of a treasury stock is permitted as a general rule. The corporation should deliver a written notice when it issues shares to the third party. If legal reserve exceeds 150% of paid-in capital, the corporation will be free to use such excess. In case of business transfer which does not have a material effect on the transferee’s business, the appraisal right is not granted to transferee’s shareholders. To sum up, the amended Commercial Code will make the corporate restructuring procedures more flexible than the current Commercial Code.
참고문헌 (27)
- 권종호, "적대적 M&A와 회사법개정", 기업법연구, 20(3), pp.67~94 (2006), 한국기업법학회
- 김도경, "선박금융과 국내선사의 도산 -특수목적법인의 처리방안을 중심으로-", 선진상사법률연구, (55), pp.78~114 (2011), 법무부
- 김동환, "21세기 최신 M&A : 이론과 실제 및 전략" (2000), 무역경영사
- 김홍식, "M&A 개론" (2009), 博英社
- 김화진, "기업금융과 법률", 서울대학교 법학, 49(4), pp.518~573 (2008), 법학연구소
- 김화진, "소수주식의 강제매수제도", 서울대학교 법학, 50(1), pp.321~350 (2009), 법학연구소
- 박철영, "종류주식의 확대와 주주간 이해조정", 상사법연구, 제24권 제2호 (2005), 한국상사법학회
- 송종준, "주식회사의 재무관련제도에 관한 개정시안", 저스티스, (94)통권 : 94, pp.31~59 (2006), 한국법학원
- 송종준, "상법상 M&A법제의 변화와 과제-2006년 회사법 개정안을 중심으로-", 기업법연구, 21(4), pp.77~110 (2007), 한국기업법학회
- 신우진, "경영권 방어를 위한 자기주식의 제3자에 대한 처분의 법적 문제점", 기업법연구, 21(4), pp.139~176 (2007), 한국기업법학회
- 신익균, "M&A와 구조조정" (1998), 더난출판사
- 안경봉, "삼각합병제도와 과세", 법학논총, 22(2), pp.259~303 (2010), 법학연구소
- 이용만, "출자전환(Debt-Equity Swap)을 통한 기업 부채구조조정의 득실", LG 주간경제 (1998), LG 경제연구소
- 정동윤, "회사내의 소수파 주주의 보호-freeze-out을 중심으로 하여", 법학논집 제26집 (1991), 고려대학교
- 정무원, "개정상법안 중 영업양도에 관한 규정 보완해야", 법률신문 제3533호 (2007), 법률신문사
- 정찬형, "2007年 確定한 政府의 商法(會社法) 改正案에 대한 意見", 고려법학, (50), pp.363~399 (2008), 법학연구원
- 최성근, "기업조직재편 관련법제도의 개선방안 연구－상법과 증권거래법을 중심으로" (2002), 한국법제연구원
- 최준선, "회사법 제6판" (2011), 삼영사
- 한국상장회사협의회, "상장법인의 기업조직재편 현황", 상장, (442) (2011), 한국상장회사협의회
- "일본 법무성, 삼각합병에 대한 공시규제 강화", 주간 금융브리프, 16(13) (2007), 한국금융연구원
- 황남석, "회사분할 과세론" (2011), 한국학술정보
- 監査法人トーマｹツ, "実際にどうする三角合併 131号" (2005), MARR
- "商事法務", 2004, ~, pp.商事法務硏究會
- Robert C. Clark, "Corporate Law", ~ (1986)
- Dennis J. Block, "Defensive Measures in Anticipation of and in Response to Unsolicited Takeover Proposals" (1997), 51 University of Miami Law Review 623
- Sharon S. Gerstman, "International Tax Law" (2009), 43 International Lawyer 759
- Antony Page, "Is Social Enterprise the New Corporate Social Responsibility" (2011), 34 Seattle University Law Review 1351