A Comparative Study of Precedent Procedures for Shareholder Derivative Actions

Xiang Liu ()
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Xiang Liu: University of Glasgow

A chapter in Proceedings of the 2023 3rd International Conference on Enterprise Management and Economic Development (ICEMED 2023), 2023, pp 213-218 from Springer

Abstract: Abstract As a specialized form of civil pre-litigation, the shareholder derivative pre-litigation procedure actively promotes reconciliation between companies and shareholders and extrajudicial resolution of disputes. Because of the corporate governance structure and social traditions, the shareholder derivative pre-litigation procedure in the United States has distinctive characteristics and has had a significant impact on its dispute resolution function. It is necessary for the Chinese Company Law to acquire reasonable elements from it to improve the Chinese shareholder derivative pre-litigation procedure, prevent abusive and improper litigation, and enhance its extra-litigation dispute resolution function. The US institutional framework for shareholder-derived pre-litigation proceedings has significant implications for the resolution of extra-judicial disputes in China: to emphasize the balancing function of shareholder-derived pre-litigation proceedings, to identify reasonable targets for shareholder-derived pre-litigation proceedings, to increase court review of shareholder-derived pre-litigation proceedings, and to strengthen the procedural law status of shareholder-derived pre-litigation proceedings.

Keywords: Shareholder derivative action; Preliminary proceedings; Pre-trial review (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-224-8_28

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DOI: 10.2991/978-94-6463-224-8_28

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