Rules Adjudication Of Real Debt Of Nominal Stocks

"Real debt of nominal stocks" is not a normative legal concept,but a commonly used financing means of financial institutions,including two core trading links,equity acquisition and equity repurchase,and four different trading modes.In current judicial practice,the buy-back clause of "Real debt of nominal stocks" contract are usually considered to be effective,but for the identification of nature of investment referee institutions often integrated Meaning denotes the principle of truth comprehensive consideration and appearance,and in recent years,the referee has gradually formed a foreign follow appearance,protect the interests of a third person's trust,especially in the case of bankruptcy or dissolution of the target company,it should be the priority to the protection of the interests of other creditors;The principle of substance over form is adopted internally to explore the judgment idea of the true expression of meaning between the parties.Through the analysis of the cases and the judgment rules,under the trading mode of "Real debt of nominal stocks",if the operation is improper,there is still the risk that the repurchase terms are judged to be invalid and the investors may assume the shareholders' responsibilities caused by the appearance of the equity,and measures should be taken to prevent and control the risks during the trading.