자본금 감소의 방법 및 효과에 관한 소고 - 무액면주식과의 비교를 중심으로 -

Abstract

In this paper, we analyze the type and method and the effect on the capital reduction in par value stocks issued by the company compared with the case of no-par value stocks. Through this, the primary purpose was to suggest appropriate responses and solutions to the various problems arising in connection with a capital reduction in the Company issued no-par value stocks. The main contents specifically discussed in this paper is as follows. First, It was described the type and method of capital reduction of par value stocks in comparison with the case of no-par value stocks, and investigated that the nominal capital reduction as well as the substantial capital reduction is possibile in the case of no-par value stocks issued by the company. Second, with regard to the issue of capital reduction due to the decrease of the par value, it was investigated whether the decrease of capital itself in the case of no-par value stocks is equal to the decrease of par value in the case of par value stocks. Third, with regard to capital reduction by stock retirement, it was investigated that the procedures of capital reduction stipulated in the Commercial Code should be applied in the case of no-par value stocks because the Commercial Code Article 343 main text is applicable to capital reduction by retirement of no-par value stocks. Fourth, with regard to capital reduction by stock consolidation, it was investigated whether the procedures of capital reduction on commercial law including the procedures about general meeting of shareholders and creditor protection et cetera is required to the consolidation of no-par value stocks. Fifth, with regard to the effectuation time of the capital reduction, it was investigated that the effectuation time appears each differently with respect to the consolidation or the retirement of non-par value shares working as a means of capital reduction. Sixth, with regard to the effectiveness of the litigation for confirmation of nullity on the capital reduction, it was investigated whether the issue of restitution including the restoration of retired stocks and the division of consolidated stocks et cetera is occurred in the case of no-par value stocks.