CAJ | 학술논문

东北高速分立上市项目是采取原上市公司注销,新设分立公司双双上市的模式进行的,这在我国A股市场尚属首例。我国法律对公司分立上市制度并无特别规定,故规范公司分立上市应当在现有的法律框架下进行。从这一点看,东北高速分立上市存有不合法律规定之虞。但换个角度看,东北高速分立上市是我国作出的以资本市场运作的方式解决历史遗留问题的一种积极尝试,不失为化解公司僵局的有益探索。我国在构建公司分立上市制度时可以借鉴日本和台湾地区的做法,以分立中承继公司承继的分立资产/业务作为审核对象进行上市审核。
동북고속분립상시항목시채취원상시공사주소,신설분립공사쌍쌍상시적모식진행적,저재아국A고시장상속수례。아국법률대공사분립상시제도병무특별규정,고규범공사분립상시응당재현유적법률광가하진행。종저일점간,동북고속분립상시존유불합법률규정지우。단환개각도간,동북고속분립상시시아국작출적이자본시장운작적방식해결역사유류문제적일충적겁상시,불실위화해공사강국적유익탐색。아국재구건공사분립상시제도시가이차감일본화태만지구적주법,이분립중승계공사승계적분립자산/업무작위심핵대상진행상시심핵。
The company division and listing program of Northeast Expressway Company Ltd. adopts the following model, that is, the former listed company logs off and two new companies list at the same time. It is the first in the A share capital market in our country. There are no special regulations on the system of company division and listing in our laws, so the existing legal framework will be applied in the case of company division and listing. From this point we can see suspicions occur in the case of Northeast Expressway Company Ltd evidently. However, the practice is a positive attempt to solve questions left o- ver from history via capital market and to resolve corporation deadlock. This article puts forward some suggestions on how to perfect the company division and listing system of our country by studying from Ja- pan and Taiwan.