本文關(guān)鍵詞：私募股權(quán)基金投資協(xié)議清算優(yōu)先權(quán)條款制度研究　出處：《西南政法大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 私募股權(quán)基金 優(yōu)先權(quán) 清算優(yōu)先權(quán) 清算優(yōu)先權(quán)條款 私募股權(quán)基金投資協(xié)議

【摘要】：清算優(yōu)先權(quán)條款是私募股權(quán)基金投資協(xié)議的核心條款之一，是公司終止階段保護(hù)私募股權(quán)基金投資利益的重要條款。然而，在我國私募股權(quán)基金投資實(shí)踐中，清算優(yōu)先權(quán)條款多作為私募股權(quán)基金投資協(xié)議的象征性條款，其實(shí)踐操作卻屈指可數(shù)，換言之，私募股權(quán)基金未能真正地實(shí)踐操作清算優(yōu)先權(quán)條款；同時(shí)，基于我國公司發(fā)展的現(xiàn)狀，私募股權(quán)基金投資的公司及其其他股東或者初始股東在一般情形下不會(huì)輕易地選擇終止，而是保持公司的持續(xù)經(jīng)營，這也為私募股權(quán)基金行使清算優(yōu)先權(quán)形成了障礙。 本文通過對我國實(shí)踐操作清算優(yōu)先權(quán)的現(xiàn)狀進(jìn)行分析，清算優(yōu)先權(quán)條款的運(yùn)用主要存在缺乏相關(guān)法律法規(guī)或者其他規(guī)范性文件的規(guī)制和私募股權(quán)基金忽略清算優(yōu)先權(quán)條款的作用兩方面問題，這主要基于我國私募股權(quán)基金市場機(jī)制和法律機(jī)制不健全以及私募股權(quán)基金對清算優(yōu)先權(quán)條款及其內(nèi)涵認(rèn)識不足。 因此，為了保護(hù)私募股權(quán)基金的投資利益兼顧公司其他股東或者初始股東的以利益和促進(jìn)清算優(yōu)先權(quán)條款的實(shí)踐操作，本文通過采取理論與實(shí)際相結(jié)合的方法、個(gè)案分析的方法等方法，以闡釋清算優(yōu)先權(quán)條款的內(nèi)涵、行使條件、功能為基礎(chǔ)，運(yùn)用法學(xué)基礎(chǔ)理論并結(jié)合私募股權(quán)基金投資協(xié)議相關(guān)條款已經(jīng)發(fā)生的類似糾紛和案例對清算優(yōu)先權(quán)條款是否具有合法性和合理性進(jìn)行分析與論證；同時(shí)，本文對清算優(yōu)先權(quán)條款實(shí)踐操作的現(xiàn)狀進(jìn)行分析，找出清算優(yōu)先權(quán)條款實(shí)踐操作存在的問題與原因，為清算優(yōu)先權(quán)條款的實(shí)踐操作存在的問題提出解決途徑。
[Abstract]:Liquidation priority clause is one of the core clauses of private equity fund investment agreement, which is an important clause to protect the interests of private equity fund investment in the terminating stage of the company. However, in the practice of private equity fund investment in our country. The liquidation priority clause is often regarded as the symbolic clause of the private equity fund investment agreement, but its practical operation is few, in other words, the private equity fund can not really implement the liquidation priority clause; At the same time, based on the current situation of the development of Chinese companies, private equity funds of the company and its other shareholders or initial shareholders in general will not easily choose to terminate, but to maintain the continuing operation of the company. This also for private equity funds to exercise liquidation priority formed an obstacle. This paper analyzes the current situation of liquidation priority in practice in China. There are two main problems in the application of liquidation priority clauses: the lack of relevant laws and regulations or the regulation of other normative documents and the neglect of the role of liquidation priority clauses by private equity funds. This is mainly based on the imperfect market mechanism and legal mechanism of private equity funds in China and the lack of understanding of liquidation priority clauses and their connotations of private equity funds. Therefore, in order to protect the investment interests of private equity funds, it takes into account the interests of other shareholders or initial shareholders of the company and the practical operation of promoting the liquidation priority clause. Through the combination of theory and practice, case analysis and other methods, this paper explains the connotation, exercise conditions and functions of the liquidation priority clause. Using the basic theory of law and combining with the similar disputes and cases that have occurred in the relevant articles of the private equity fund investment agreement, this paper analyzes and proves whether the liquidation priority clause has the legitimacy and rationality; At the same time, this paper analyzes the current situation of practice operation of liquidation priority clause, and finds out the problems and reasons of practical operation of liquidation priority clause. To solve the problems existing in the practice of liquidation priority clause.
【學(xué)位授予單位】：西南政法大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：D922.291.91;D922.287

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本文編號：1434391