Empirical Analysis Of Legal Issues Related To Equity Transfer Guarantee

In World Bank's Doing Business 2020 Report released in 2019,China ranked 31 st overall in terms of business environment,which is an increase of 15 places from the previous year.But "Access to Credit",one of the top 10 indicators,ranked 80 th,down seven places from the previous year.Among its four secondary indicators,the "Legal Power Index" has the lowest score,with only 4 points out of 12 points.Among them,whether there are laws and regulations on the adjustment of assignment guarantee as an assessment content,the full score is 1 point and China's score is 0.The purpose of World Bank's inclusion of the transfer guarantee system in the evaluation system can be understood from the article Private Credit in 129 Countries.The article pointed out that based on the analysis of the credit data of 129 countries,the development of the credit market is directly related to the protection of creditors' rights.The main argument is that lenders are more willing to lend when they can more easily call in loans or get collateral,or even take control of a company.To further understand that the transfer guarantee can provide an institutional incentive for the development of credit market in the realization of creditor's right,security right and acquisition of corporate control right.In view of World Bank's evaluation score and principle,it is of great significance to improve the transfer guarantee system,especially the equity transfer guarantee related to the control right of the company,to optimize the business environment in China and to expand the financing channels of the company.Based on the method of empirical research and the statistical analysis of more than 270 judgments,this paper summarizes the characteristics of equity transfer and guarantee cases in recent years,and discusses the types of controversial cases in the practice of equity transfer and guarantee cases.a It also conducts case analysis on more types of cases in practice,and compares the judgment opinions of different courts.On the basis of statistics,it discusses the irrationality of the views in the existing judgment from the perspective of collateral rights and company law,and explains the reasons for increasing the protection of creditors.Finally,the author has designed a set of ideas that can be used in the trial of equity transfer guarantee cases,hoping to help solve some of the difficulties in the equity transfer guarantee cases.It is found in this paper that whether from the purpose of establishing equity transfer and security,or from the comparison with the development history of other typical security right and foreign company law,it can reflect that the shareholder's right endowed with defensive nature to the security right holder does not violate the original intention of establishing equity transfer and security right system.If only according to the general guarantee to understand the equity transfer guarantee is unable to explain the novelty of the equity transfer guarantee,also can not reach the role of the judicial decision to end the dispute.On the contrary,it will misinterpret the true meaning of the parties,which is not conducive to the long-term development of the market economy.Therefore,the design of a set of justice logic that can be used for the judicial practice of equity transfer guarantee can improve the overall level of protection of equity transfer guarantee in China,and it can also serve as a reference for the optimization of the business environment.