Research On The Legal Issues Of Enforcing The Equity Of Anonymous Shareholders

Over the years,under the background of the rapid development of market economy,the phenomenon of equity holdings in limited liability companies is becoming more and more common,which brings a large number of conflicts and disputes.However,under the proxy shareholding relationship,there is still a gap in the existing laws and judicial interpretations on whether the court should support the actions of the hidden shareholders against the creditors.Therefore,most courts often face many difficulties in hearing related cases,resulting in the situation that courts at all levels deal with the same cases with different results and different applicable norms.Because of the particularity of hidden stock rights compared with general stock rights,it is necessary to further analyze and study the enforcement system of hidden stock rights.This paper finds the insufficient in the legal and judicial interpretation through cases.On this basis,it makes a theoretical analysis in many aspects,obtains a feasible judgment path,and puts forward targeted suggestions,which has great practical significance for unifying the scale of judgment and promoting the solution of the problem of difficult execution.At present,the main controversial issues in judicial practice can be summarized into three aspects,namely,the identification of actual investor’s shareholder qualifications,the application of commercial externalism,and the scope of "third party" in Article 32,paragraph 3 of the Company Law.This article believes that due to the strong internal characteristics of the proxy ownership behavior,the issue of the qualification criteria for shareholders should refer to the viewpoints of internal and external distinctions,externally based on industrial and commercial registration,shareholder register and other external requirements,and internally based on actual capital contributions situation identification.At the same time,the article believes that the application of commercial appearance doctrine in the implementation process is also feasible and necessary.It is a good measure to reflect the value of efficiency and standardize the market order.When the appearance requirement does not conform to the actual situation,the creditor as the external third party has the right to claim its lawful rights and interests to the court.However,the research ideas for solving the issue of dormant equity execution should not be limited to this.The definition of "the third party" subjective goodwill is as important as the balance of interests of both parties.When the nominal shareholders and creditors are included in the scope of "the third party",we should carefully judge whether the creditors are in good faith,investigate the real intention behind the act of holding shares on behalf of the shareholders,and compare the trust interest of the proxy shareholders and the trust interest of the creditor.Based on the content of the above theoretical analysis,this article puts forward perfect suggestions on the criteria and procedures for the confirmation of shareholder qualifications,the definition of the scope of "third parties",and the strengthening of punishments for malicious acts.,so as to better solve this kind of disputes in judicial practice.