Abstract: It’S a rationalistic action when a listed company secured any debts of business deal acts in break the law，so you Can’t absolutely prohibit it．But，it Can assemble a great deal causes in short time，and high-speed throw away its’material，human and management resources as so as a very big in quantity and in number while the illegal acts of a listed company．*ST TOP（a listed company since Sichuan Province PRC，it had withdraw from Shenzhen Stock Exchange in 21 May 2007）lost immediately its’existence and developmental essential element，because it dispensed a lot of behavior in break the law seriously．And the debtee of*ST TOP illn after the debts from its’ensure actions，loans and transaction，and the intensive cases draw assistance from juridical strength to indict*ST TOP in break the law．It’s a typical example，and can proof the value of two pointsthe administrator must strict restrain the market acts and across—the-board control any risks from a listed company．

Key words: listed company, secured in break the law, assemble a great deal causes in short time, the value of a typical example

摘要： 上市公司违规违法担保，作为交易行为具有相当合理性，因而无法禁绝。但数量过多、数额巨大的违规违法担保行为，必然引起诉讼群化，使上市公司经营活动需要的物力、财力资源，以及管理资源迅速丧失。*ST托普因为严重违法违规担保，导致债权人追讨债务的诉讼群化，借助司法力量，很快使其失去生存、发展的基本条件，这种超常违法担保行为实施结果，从规范市场行为和控制上市公司风险两方面，具有典型性和个案说明价值。

关键词: 上市公司 , 担保违法 , 诉讼群化 , 典型价值