股权代持执行异议之诉中利益衡量问题探究
Research on the Judgement of Benefit in the Dissent Action of Execution to Share-Holding Entrustment

有限责任公司持有股权呈现多样态化，代持股就属于其中的一种。股权代持具有独特的灵活性、便捷性与隐秘性，受到部分投资人的青睐。但这种隐秘的持股方式，对第三人权利的实现造成诸多困境。特别是非股权交易的“第三人”为实现债权而追索到名义股东名下的股权时，实际出资人常常以自己为实际出资人阻却执行。那么实际出资人是否具有足够的民事权益，排除案件中所涉股权的执行对待此类问题的态度，各法院有所不同。关于商事外观主义的适用、第三人范围存在颇多质疑，争议的背后其本质是利益冲突。本文试图从股权执行异议诉讼的视角出发，对商事外观主义原则的适用、利益主体间的法律关系与利益、利益的类型化进行探讨，界定出一条裁判标准，为司法实践平衡诉讼利益主体间利益冲突提供参考。
The shareholding of limited liability company presents diversified forms, and entrustment is one of them. Equity entrustment is favored by some investors because of its unique flexibility, convenience and secrecy. But this kind of secret way of holding shares causes many difficulties to the real-ization of the third party’s rights. Especially when the “third party” of the non-equity transaction seeks the equity under the name of the nominal shareholder for the realization of the creditor’s rights, the actual investor often takes himself as the actual investor to block the execution. Then whether the actual investor has enough civil rights and interests, excluding the execution of the equity involved in the case, courts have different attitudes towards such issues. There are many doubts about the application of commercial externalism and the scope of “third party”, and the essence behind the disputes is the conflict of interests. This paper tries to discuss the application of the principle of commercial appearance doctrine, the legal relationship between interest subjects and interest, and the typification of interest from the perspective of the objection lawsuit of equity execution, and defines a judgment standard, which provides reference for the judicial practice department to balance the conflict of interest between litigation subjects.