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Faculty of Arts and HumanitiesDean's Office, Faculty of Arts and HumanitiesJakobi 2, r 116-121 51005 Tartu linn, Tartu linn, Tartumaa EST0Institute of History and ArchaeologyJakobi 2 51005 Tartu linn, Tartu linn, Tartumaa EST0Institute of Estonian and General LinguisticsJakobi 2, IV korrus 51005 Tartu linn, Tartu linn, Tartumaa EST0Institute of Philosophy and SemioticsJakobi 2, III korrus, ruumid 302-337 51005 Tartu linn, Tartu linn, Tartumaa EST0Institute of Cultural ResearchÜlikooli 16 51003 Tartu linn, Tartu linn, Tartumaa EST0Institute of Foreign Languages and CulturesLossi 3 51003 Tartu linn, Tartu linn, Tartumaa EST0School of Theology and Religious StudiesÜlikooli 18 50090 Tartu linn, Tartu linn, Tartumaa EST0Viljandi Culture AcademyPosti 1 71004 Viljandi linn, Viljandimaa EST0Professors emeriti, Faculty of Arts and Humanities0Associate Professors emeriti, Faculty of Arts and Humanities0Faculty of Social SciencesDean's Office, Faculty of Social SciencesLossi 36 51003 Tartu linn, Tartu linn, Tartumaa EST0Institute of EducationJakobi 5 51005 Tartu linn, Tartu linn, Tartumaa EST0Johan Skytte Institute of Political StudiesLossi 36, ruum 301 51003 Tartu linn, Tartu linn, Tartumaa EST0School of Economics and Business AdministrationNarva mnt 18 51009 Tartu linn, Tartu linn, Tartumaa EST0Institute of PsychologyNäituse 2 50409 Tartu linn, Tartu linn, Tartumaa EST0School of LawNäituse 20 - 324 50409 Tartu linn, Tartu linn, Tartumaa EST0Institute of Social StudiesLossi 36 51003 Tartu linn, Tartu linn, Tartumaa EST0Narva CollegeRaekoja plats 2 20307 Narva linn, Ida-Virumaa EST0Pärnu CollegeRingi 35 80012 Pärnu linn, Pärnu linn, Pärnumaa EST0Professors emeriti, Faculty of Social Sciences0Associate Professors emeriti, Faculty of Social Sciences0Faculty of MedicineDean's Office, Faculty of MedicineRavila 19 50411 Tartu linn, Tartu linn, Tartumaa ESTInstitute of Biomedicine and Translational MedicineBiomeedikum, Ravila 19 50411 Tartu linn, Tartu linn, Tartumaa ESTInstitute of PharmacyNooruse 1 50411 Tartu linn, Tartu linn, Tartumaa ESTInstitute of DentistryL. Puusepa 1a 50406 Tartu linn, Tartu linn, Tartumaa ESTInstitute of Clinical MedicineL. Puusepa 8 50406 Tartu linn, Tartu linn, Tartumaa ESTInstitute of Family Medicine and Public HealthRavila 19 50411 Tartu linn, Tartu linn, Tartumaa ESTInstitute of Sport Sciences and PhysiotherapyUjula 4 51008 Tartu linn, Tartu linn, Tartumaa ESTProfessors emeriti, Faculty of Medicine0Associate Professors emeriti, Faculty of Medicine0Faculty of Science and TechnologyDean's Office, Faculty of Science and TechnologyVanemuise 46 - 208 51003 Tartu linn, Tartu linn, Tartumaa ESTInstitute of Computer ScienceNarva mnt 18 51009 Tartu linn, Tartu linn, Tartumaa ESTInstitute of GenomicsRiia 23b/2 51010 Tartu linn, Tartu linn, Tartumaa ESTEstonian Marine Institute0Institute of PhysicsInstitute of ChemistryRavila 14a 50411 Tartu linn, Tartu linn, Tartumaa EST0Institute of Mathematics and StatisticsNarva mnt 18 51009 Tartu linn, Tartu linn, Tartumaa EST0Institute of Molecular and Cell BiologyRiia 23, 23b - 134 51010 Tartu linn, Tartu linn, Tartumaa ESTTartu ObservatoryObservatooriumi 1 61602 Tõravere alevik, Nõo vald, Tartumaa EST0Institute of TechnologyNooruse 1 50411 Tartu linn, Tartu linn, Tartumaa ESTInstitute of Ecology and Earth SciencesJ. Liivi tn 2 50409 Tartu linn, Tartu linn, Tartumaa ESTProfessors emeriti, Faculty of Science and Technology0Associate Professors emeriti, Faculty of Science and Technology0Institute of BioengineeringArea of Academic SecretaryHuman Resources OfficeUppsala 6, Lossi 36 51003 Tartu linn, Tartu linn, Tartumaa EST0Area of Head of FinanceFinance Office0Area of Director of AdministrationInformation Technology Office0Administrative OfficeÜlikooli 17 (III korrus) 51005 Tartu linn, Tartu linn, Tartumaa EST0Estates Office0Marketing and Communication OfficeÜlikooli 18, ruumid 102, 104, 209, 210 50090 Tartu linn, Tartu linn, Tartumaa EST0Area of RectorRector's Strategy OfficeInternal Audit OfficeArea of Vice Rector for Academic AffairsOffice of Academic AffairsUniversity of Tartu Youth AcademyUppsala 10 51003 Tartu linn, Tartu linn, Tartumaa EST0Student Union OfficeÜlikooli 18b 51005 Tartu linn, Tartu linn, Tartumaa EST0Centre for Learning and TeachingArea of Vice Rector for ResearchUniversity of Tartu LibraryW. Struve 1 50091 Tartu linn, Tartu linn, Tartumaa EST0Grant OfficeArea of Vice Rector for DevelopmentCentre for Entrepreneurship and InnovationNarva mnt 18 51009 Tartu linn, Tartu linn, Tartumaa EST0University of Tartu Natural History Museum and Botanical GardenVanemuise 46 51003 Tartu linn, Tartu linn, Tartumaa EST0International Cooperation and Protocol Office0University of Tartu MuseumLossi 25 51003 Tartu linn, Tartu linn, Tartumaa EST0
Doctoral defence: Annemari Õunpuu “Commercial pledge on legal person’s movable property”
On 17 February at 11:00 Annemari Õunpuu will defend her doctoral thesis “Commercial pledge on legal person’s movable property” for obtaining the degree of Doctor of Philosophy (in Law).
Supervisors:
Professor Dr.iur. Karin Sein, University of Tartu
Professor emeritus Paul Varul, University of Tartu
Associate Professor Dr.iur. Villu Kõve, University of Tartu
Opponents:
Professor Dr. Wolfgang Faber, University of Salzburg
Kai Kullerkupp, Supreme Court of Estonia
Summary
Estonian law knows the commercial pledge which is a type of general pledge. The commercial pledge has been found to be non-compatible with the “normal” system of security rights as it does not follow the principle of specificity inherent to property law. What is the essence of the commercial pledge as a general pledge and why is it needed? What are the characteristics of the commercial pledge? How does the commercial pledge relate to other security rights and how is the priority right determined between a commercial pledge and other security rights? What effect does the registration of security rights have on their ranking? How should a commercial pledge be realized? These are the questions that the dissertation seeks to answer. The aim of the dissertation is to define the essential features of the commercial pledge and to determine whether the current legislation takes these features sufficiently into account throughout the life cycle of the commercial pledge, i.e., from the establishment of the commercial pledge until its realization. It is concluded that the current law needs to be amended, because compared to many other countries, the current Estonian law does not provide sufficient flexibility in determining the scope of the commercial pledge. Existing law therefore needs to be amended, either by creating a universal non-possessory security right, which can be used to encumber individual objects, variable assets, and all movable property of the company, both existing and future. An alternative would be to extend the scope of the commercial pledge. There are significant shortcomings in the current law regarding the disclosure of non-possessory security rights to third parties, which also negatively affects the legal certainty of the commercial pledge. To address this problem, a centralized debtor-based register should be established to record all non-possessory security rights to make them effective against third parties, e.g., creditors, bailiffs, reorganization advisers, bankruptcy administrators. Based on the registration of the security rights in the register, it is also possible to determine the ranking between non-possession security rights on the principle that the priority is always given to the security right that is registered first. It is also concluded that the current law needs to be amended with regard to reorganization and bankruptcy proceedings in order to secure the interests of the commercial pledgee as a secured creditor and the effective realization of the assets encumbered by the commercial pledge.
The defence will be held in Zoom: https://ut-ee.zoom.us/j/94337838257?pwd=VDVlMlovd2RpVnY2VmRpVXNVSXhjdz09. Meeting ID: 943 3783 8257, Passcode: 975708.