Judicial Protection Of Creditor's Interests In Equity Assignment

As a new type of guarantee,equity transfer guarantees have greatly met people's financing needs and are in line with current market trends,but they do face many problems.The primary problem is that my country's law has always lacked clear provisions on this.Even after the Civil Code was promulgated,the system has not been specifically regulated,which has caused many disputes in judicial practice.Equity assignment secured transactions involve company law regulations,and are also regulated by the property law,contract law and other laws,leading to conflicts between different laws.At the same time,equity assignment guarantees have the characteristics of “separation of name and reality”,that is,the registration of secured equity under the name of the creditor(guarantee),but the equity interests are still enjoyed by the debtor(guarantor),this creates a special legal status for the creditor,and also makes the creditor have to face multiple roles,obligations,and conflicts of interest between regulations.Starting from the main identity of the creditor and its rights and obligations,combined with the corresponding judicial precedents,it focuses on how the interests of the creditor can be more effectively protected in the equity transfer guarantee.Under the basic framework of the equity transfer guarantee system,compared with movable property and real property transfer guarantee,equity has the dual attributes of property rights and membership rights,so a series of problems such as the “dual identity”of creditors after acquiring equity are frequently raised.As a result,the legal status of creditors as the main risk-bearers is difficult to change,but this does not mean that they can only passively accept this fact.The equity transfer guarantee system should be continuously improved to provide more protection to creditors.After all,in the traditional legal culture of our country,“repaying debts”is a simple concept of justice that does not require proof.In the equity transfer guarantee,the creditor should be a strong party in the lending relationship,but in this immature guarantee system,it will face the hopeless situation of debt recovery.What is more complicated is that the creditor has to face the equity transfer the conflict of interest between multiple parties in the guarantee process is true,when the object of interest is fixed and single,and the interest subjects are complex and diverse,the conflict of interest between the multiple parties is inevitable.At this time,the corresponding legal system should be improved to balance such conflicts of interest.Conflict of interest is particularly important for the protection of the interests of the creditor,that is,the guaranteed party.Through the combination of academic theory and judicial cases,from theory to practice,starting from empirical investigation,the legal relationship between the subjects is divided into internal and external parts for discussion.this article analyzes the creditor's right enjoyment and realization in the internal relationship between the creditor(the guarantor)and the debtor(usually the guarantee setter);As for the external relationship between the creditor and the target company and other third parties,we will discuss the responsibility of the creditor,as well as the conflict relationship with the relevant stakeholders,in order to more accurately grasp the creditor's legal status and corresponding rights,and weigh the relevant rights disputes between subjects.The first chapter is “Summary of the basic theory of Equity Assignment Guarantee”.This chapter is mainly divided into four sections to discuss,which are the connotation of equity transfer guarantee,legal structure and right attributes,difference from other systems,and functional value.Only by clarifying the basic theory of the system can we provide a basic theory for the subsequent analysis of the legal status of creditors.The second chapter is “the identification of creditors in internal relations and the exercise of their rights”.Focusing on the identification of the current creditor and the current status of the exercise of the assigned secured equity,it sorts out the different situations of the current creditor's exercise of such equity,and provides support for subsequent claims that the creditor can exercise the corresponding secured equity;on the realization of the creditor's rights the problem is mainly aimed at the disposal of the assigned secured equity and priority for compensation,focusing on the analysis of the current disposition of secured equity and the procedure for preferential compensation,and further consideration of the specific applicable rules for preferential compensation.The third chapter is “The responsibility and risk prevention of creditors in external relations”.It mainly discusses the relationship between the creditor and the target company and other shareholders,as well as other creditors,in addition to the parties,what kind of responsibilities and risks will be assumed in this relationship,and what disputes in the bankruptcy proceedings will produce for the creditor Kind of influence.The fourth chapter is “Suggestions on measures to protect the interests of Creditors in the Equity Assignment Guarantee”.It will be analyzed from the perspective of legislation,specific judicial rules,and values.The legislative aspect focuses on changing the atypical legal status of the equity transfer guarantee.Only in this way can a clear legal basis be provided for the protection of the interests of creditors;the judicial aspect is mainly to improve the legal content of the current equity transfer guarantee system,and to affirm the equity On the basis of the effectiveness of the transfer guarantee system,creditors are given certain shareholder rights,detailed preferential compensation rules are formulated,and the ownership and liquidation of secured equity should be recognized;the value concept should always be based on the principle of balance of interest.