Reference Case: Beijing Building Materials Company v. Beijing Technology Company and Ma et al.
A shareholder may set off a due debt owed by the company against contribution obligations only if the articles are duly amended, the company has sufficient solvency, and the change is properly filed; otherwise the set-off cannot defeat the claims of company creditors.
Holding
A shareholder may set off a due debt owed by the company against contribution obligations only if the articles are duly amended, the company has sufficient solvency, and the change is properly filed; otherwise the set-off cannot defeat the claims of company creditors.
Issues
set-off of shareholder debt against contribution obligationscapital maintenancearticles filing