Publication detail

One Flight over Czech Security Interests: Priorities and other Monsters of Post-Transformation Debtor/Creditor Law

Author(s): JUDr. Tomáš Richter LL.M., Ph.D.,
Type: IES Occassional Papers
Year: 2006
Number: 3
ISSN / ISBN:
Published in: IES Occassional Paper 3/2006
Publishing place: Prague
Keywords:
JEL codes:
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Abstract: This article contains a relatively comprehensive review of current Czech law of security interests. Starting from a basis of socialist law of security interests, utterly useless in a market economy, the Czech legislator must be credited with having made some progress since 1989. However, that progress has been moderate at best. While Czech law of security interests contains some particular features conducive to taking security over business assets (such as a register of movables allowing the creditors to take non-possessory charges over chattels), confusion prevails about some of the most fundamental principles of this field of law, in particular the rules of priority. As will be shown in the article, these fundamental confusions and conceptual misunderstandings appear time and again in dubious and unclear statutory provisions that reduce legal certainty and increase transaction costs in the Czech credit market.
Downloadable: OP 2006_3 Richter

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