Abstract
There are many methods of securing creditor’s interest in Polish civil law. Authors of this text suggest that a registered pledge is a suitable method most closely resembling security system under the Cape Town Convention. All movable objects may be subjected to the registered pledge, including transport vehicles. It is a limited proprietary right that allows a creditor (pledgee) to satisfy his claim from an object regardless of whose property it has become and with priority over the personal creditors of the owner of the thing, save for those who under the law hold special priority. Contrary to a regular pledge in case of the registered pledge the debtor maintains possession of the object. Instead, a record in a special registry is instituted. As in the Cape Town Convention the creditor who files for registration first entertains priority. There are however broad differences between the system of registration under the Polish law and the convention. Also, concept of security under the Polish law does not reflect a functional approach adopted under the Cape Town Convention. Under the Convention the enforcement methods depend on the type of security chosen by the creditor. In cases of the registered pledge the creditor entertains limited latitude as to ways of enforcing his claims. Priority is given to the judicial enforcement, however other methods are allowed in certain situations which are discussed in the text. Furthermore, Polish insolvency law recognizes the same rule of effectiveness of the security interests as the Convention. Therefore, in case of the security interest in a form of the registered pledge, the creditor has a right to take over ownership or sell the secured asset pending insolvency proceedings. Authors suggest however that some security agreements are ineffective in regard to the bankruptcy estate.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
J. of L. 2016, item 297.
- 2.
J. of L. 2013, item 707.
- 3.
J. of L. 2016, item 380.
- 4.
J. of L. 2016 item 605.
- 5.
J. of L. 2016, item 66.
- 6.
J. of L. 2015, item 233.
- 7.
J. of L. 2016, item 1574.
- 8.
O.J. L. 160/1, 30.06.2000.
- 9.
J. of L. 2006, item 283.
- 10.
M. P. 2012, item 32.
- 11.
M. P. 2013, item 979.
Reference
Gołaczyński, J., and M. Leśniak. 2009. Zastaw rejestrowy i rejestr zastawów. Komentarz. Warszawa: C.H. Beck.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2017 Springer International Publishing AG
About this chapter
Cite this chapter
Dragun-Gertner, M., Pepłowska-Dąbrowska, Z., Krzemiński, J. (2017). The Cape Town Convention and Polish Law on Security Interests. In: Kozuka, S. (eds) Implementing the Cape Town Convention and the Domestic Laws on Secured Transactions. Ius Comparatum - Global Studies in Comparative Law, vol 22. Springer, Cham. https://doi.org/10.1007/978-3-319-46470-1_18
Download citation
DOI: https://doi.org/10.1007/978-3-319-46470-1_18
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-46468-8
Online ISBN: 978-3-319-46470-1
eBook Packages: Law and CriminologyLaw and Criminology (R0)