摘要： 股权让与担保交易中蕴含着合同关系与组织秩序的冲突融合,现有的规范设计和司法实践在定性与识别标准、担保权人法律地位及其权利实现方式等问题上,均体现出契约法思维过度彰显而忽视团体组织法色彩的倾向。股权在利益结构上的复合性、权利转让外观在评价上的重要性以及合同关系在公司治理结构中的涉他性这三个重要因素的影响,使得股权让与担保存在极为明显的组织交易特征,需要区分内外双重法律关系来构建其效力体系。在内部关系上,应当侧重于维护组织体内部的身份秩序,在承认担保权人股东资格的基础上通过比例原则来限制其股东权利的行使,另外亦需要借助强制清算义务的履行来实现商事效率与交易公平之间的妥当平衡。在外部关系上,涉及担保权人对外转让股权、名义股东承担出资瑕疵责任以及强制执行、破产程序等不同情形下的利益冲突,应当在维护相对人合理信赖的基础上,透过类型化的场景区分来实现交易风险的合理分配。

关键词: 股权让与担保, 非典型担保, 股权转让, 内外效力, 股债融合

Abstract: There is a conflict between the contractual relationship and the organizational order in the equity transfer guarantee transaction.The existing normative design and judicial practice reflect the tendency of over highlighting the thinking of contract law and ignoring the group organizational law in terms of qualitative and identification criteria, the legal status of the secured party and the way of realizing its rights.The impact of three important factors, namely, the complexity of equity in the interest structure, the importance of the appearance of the transfer of rights in the evaluation, and the otherness of the contractual relationship in the corporate governance structure, makes the transfer of equity guarantee have extremely obvious characteristics of organizational transactions.In terms of internal relations, we should focus on maintaining the order of identity within the organization.On the basis of recognizing the shareholder's qualification of the secured party, we should restrict the exercise of its shareholder's rights through the principle of proportionality.In addition, we need to achieve the proper balance between commercial efficiency and transaction fairness through the performance of compulsory liquidation obligations.In terms of external relations, conflicts of interest in different situations, such as the transfer of equity by the secured party to the outside world, the liability of the nominal shareholder for the defect of capital contribution, and the enforcement and bankruptcy proceedings, should be realized through the classification of scenarios on the basis of maintaining the reasonable trust of the counterpart.

Key words: Equity Transfer Guarantee, Atypical Guarantee, Equity Transfer, Internal and External Effects, The Integration of Stock and Debt