Modern Social Science Research

In the mode of performance can not be judged, The Minutes of the National Courts Civil and Commercial Trial Work Conference insists on the absolute status of judges, but the companys business decision-making is often more efficient, judicial business judgment is a more reasonable mode of judgment subject. In judging standards, The Minutes of the National Courts Civil and Commercial Trial Work Conference adhere to the principle of capital maintenance, but the solvency standard can protect the interests of creditors, and not hinder the companys operation and development, is a more reasonable line. When judging whether the capital reduction procedure and the profit distribution procedure constitute an obstacle to the performance of the VAM agreement, the interests of the investor, the target company, the shareholders of the company and the creditors of the company should be balanced.

Valuation adjustment mechanism agreements; Impossibility of performance; Share repurchase.