Gazette Case: Wang Qinjie v. Shanghai Licheng Investment Management Co., Ltd. et al.
Once company debts have already arisen, shareholders cannot rely on later charter amendments or resolutions extending contribution deadlines against existing creditors. If the company cannot pay due debts, under-contributing shareholders remain liable within the scope of their unpaid contributions.
Holding
Once company debts have already arisen, shareholders cannot rely on later charter amendments or resolutions extending contribution deadlines against existing creditors. If the company cannot pay due debts, under-contributing shareholders remain liable within the scope of their unpaid contributions.
Issues
extension of contribution deadlines after company debts arosecreditor protectionaccelerated contribution