股权让与担保权人的股权行使问题比较与实证研究

A Comparative and Empirical Study on the Equity Exercise of the Security Right Holder of Equity Transfer

股权让与担保是传统让与担保理念与公司股份制度相互结合的产物。2020年《中华人民共和国民法典》对于担保合同的范围描述,将股权让与担保纳入“非典型担保”,一定程度上化解了形式担保观与实质担保观之间的冲突。《全国法院民商事审判工作会议纪要》使股权让与担保的热潮到达了新高度。通过对有关股权特性、意思自治、公司治理、担保权人利益以及所有权外观等众多因素的考究,担保权人行使股权具有可期待性与合理性。然而,基于“手段大于目的”等原则的阻碍,司法实践中担保权人想行使在其名下的股权权利难以被法院支持。这既让担保权人难以信服,又使得如股权所有权外观与实质不符等问题一直悬而未决。借鉴域外担保权人行使股权的相关司法经验并结合我国本土现状,本文建议通过设立担保所有权、确定担保权人的股东身份、限制担保权人权利行使、完善担保权人股权退出机制等方式来规制担保权人的权利行使。

Equity transfer guarantee is the product of the combination of the traditional concept of transfer guarantee and the company's share system.The minutes of the National Court Working Conference on Civil and Commercial Trials have made the upsurge of equity transfer guarantee reach a new height.Through the study of many factors such as the characteristics of equity,meaning autonomy,corporate governance,the interests of the guarantor and the appearance of ownership,the exercise of equity by the guarantor is expected and reasonable.However,due to the obstruction of the principle of“means outweigh ends”,it is difficult for the guarantor to exercise the equity right under his name in judicial practice to be supported by the court.This not only makes the guarantor unconvincing,but also leaves unresolved issues such as the discrepancy between the appearance and substance of equity ownership.Referring to the overseas judicial experience of the guarantor's equity exercise and combining with the current situation in our country,this paper suggests regulating the right exercise of the guarantor by establishing the security ownership,determining the shareholder identity of the guarantor,restricting the right exercise of the guarantor,and improving the equity withdrawal mechanism of the guarantor.