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Shareholder Remuneration and the Law

Shareholder Distributions and Creditor Protection in Comparative Perspective

Xuedan Xiong

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Hardback

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English
Routledge
30 June 2025
This book discusses the mechanism of shareholder distribution restriction for creditor protection through an interdisciplinary lens.

Identifying an optimal model of shareholder distribution regimes through a comparative study of the UK and China, the book explores how these regimes can function as a creditor protection mechanism by which distributions to shareholders are regulated to safeguard creditor interest. Calls for regulatory reforms in China have sprung from a high volume of shareholder-distribution-related litigations with inconsistent court decisions. Meanwhile, the UK adopts two models concurrently: capital maintenance rules for public companies and solvency tests for private companies. This book critically evaluates the efficacy of these two models in addressing the fundamental interest of company creditors, namely, the solvency of the company following distribution. Guided by legal transplant theories, this book examines the fit and feasibility of transplanting the UK’s distribution models to China.

The book will be of interest to researchers, students and practitioners in the field of company law, finance law, accounting and banking law.
By:  
Imprint:   Routledge
Country of Publication:   United Kingdom
Dimensions:   Height: 234mm,  Width: 156mm, 
Weight:   570g
ISBN:   9781032896144
ISBN 10:   1032896140
Series:   Routledge Research in Corporate Law
Pages:   218
Publication Date:  
Audience:   College/higher education ,  Professional and scholarly ,  Primary ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active
1. Introduction 2. The Need for Mandatory Rules to Restrict Shareholders’ Distributions 3. The Indispensable Role of Accounting in the Development of Shareholders’ Distribution Regime 4. Capital Maintenance versus Solvency-Based Regime 5. China Compared with the UK: Provisions and Practice 6. Exploring an Optimal Model of Shareholders’ Distribution Regime in China

Xuedan Xiong (LLB, LLM, PHD) has been a commercial and company law practitioner for over 20 years and has recently completed her PhD in the comparative study of shareholder distribution regimes in the UK and China. Her research interests lie in company law, comparative study, interdisciplinary study, and law and economics.

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