Finančna zavarovanja po ZFZ in sodna praksa

Azarov, Tjaša (author), Simoneti, Marko (mentor)

Glavni cilj pri sprejemanju Direktive o finančnih zavarovanjih (Direktiva 2002/47/ES) je bilo izboljšati stanje na področju skupnega finančnega trga s poenostavitvijo postopkov pri sklepanju dogovorov o finančnih zavarovanjih ter omejitvijo formalnosti pri ustanavljanju in izvrševanju. Predvsem pa je bila prisotna želja po poenotenju pravil na evropski ravni. Direktiva je bila v naš pravni red prenesena z Zakonom o finančnih zavarovanjih, ki je kot specialen predpis že poznane institute predvsem stvarnega, obligacijskega in insolvenčnega prava prilagodil posebnim zahtevam finančnih zavarovanj. Enostavnejši postopki in pravila, ki upniku dajejo možnost izvensodne izvršitve zavarovanja, pa pridejo v poštev le, ko pogodbo o zavarovanju terjatve s finančnim instrumentom, gotovino ali bančnim posojilom sklepajo profesionalni subjekti iz ozkega seznama oseb, določenega v ZFZ. Namen diplomske naloge je predstaviti posebnosti, ki jih v naš pravni red prinaša ZFZ (možnosti posebnih dogovorov o uporabi predmeta zavarovanja, možnost prilastitve predmeta, odprava obličnosti,…), kako je do teh novosti sploh prišlo, ter na konkretnem primeru iz sodne prakse predstaviti težave, ki so se pri uporabi teh novih pravil izkazale za oviro do uspešnega izvrševanja upnikove terjatve. Gre namreč za področje transakcij med profesionalnimi udeleženci finančnih trgov, v katerem je nujno potrebno dopolniti zakonske določbe s sodno prakso za boljše razumevanje v prihodnosti. Predstavljen je primer SAVA d.d. proti DUTB d.d., kjer se je zapletlo ravno v postopku uveljavljanja terjatve. SAVA je namreč v zavarovanje posojila pri banki NLB zastavila 99,05 % delež svojega podjetja Sava Turizem. To terjatev je kasneje kot pravni naslednik prevzela DUTB, ki je po neuspešnem čakanju na poplačilo izvršila zavarovanje in prevzela zastavljene delnice. SAVA je vložila tožbo in z začasno odredbo dosegla vrnitev v stanje pred zasegom. Na koncu se je zadeva končala s sodno poravnavo, tako da končne sodbe in s tem obširne argumentacije odločitve sodišča ni. Vsekakor pa gre za pomemben primer in prvi večji spor pred sodiščem v slovenskem pravnem prostoru, ko govorimo o finančnih zavarovanjih. Pokaže nam dileme, ki se v praksi lahko pojavijo, ter navezavo na vprašanja zlorabe izvršbe ter vpliva insolvenčnih postopkov.

• Language: Slovenian
• Keywords: finančna zavarovanja, Zakon o finančnih zavarovanjih, subjekti pogodbe, izvensodna izvršitev, SAVA d.d., DUTB d.d., Sava Turizem d.d., DUP1 d.d.
• Work type: Master's thesis/paper
• Organization: PF - Faculty of Law
• Year: 2021
• PID: 20.500.12556/RUL-127592
• COBISS.SI-ID: 70081795
• Publication date in RUL: 16.06.2021

Secondary language

• Language: English
• Title: Financial Collateral under Financial Collateral Act and case law

Abstract

The main objective of the adoption of the Financial Collateral Directive (Directive 2002/47/ES) was to improve the situation on the common financial market by simplifying the procedures for concluding financial collateral agreements and limiting formal requirements for establishment and execution of financial collateral. Above all, there was a desire to unify the rules at European level. The Directive was transposed into our law by Financial Collateral Act, which adapted the already known institutes of property, contract and insolvency law to the special requirements of financial collateral. Simpler procedures and rules that give the creditor the possibility of out-of-court execution of the security come into consideration only when the contract on securing the claim with a financial instrument, cash or bank loan is concluded by professional entities from the narrow list of persons specified in the Financial Collateral Act. The purpose of this diploma thesis is to present the specifics, brought to our legal system by the Financial Collateral Act (for example, possibilities of special agreements on the right of use, appropriation of the object used as collateral, elimination of required form of agreement, …), background of these new rules, and to present a case study that reflects the difficulties or obstacles to the successful execution of the creditor’s claim. It is a field of transactions between professional financial market participants, in which it is essential to combine legal provisions with case law for better understanding and use in the future. I presented the case SAVA d.d. against DUTB d.d., where the problem occurred at the moment of enforcement of the claim. SAVA created a lien on a 99,05 % stake in its company Sava Turizem d.d. to secure a loan with the bank NLB. This claim was later taken over by DUTB as a legal successor, which, after an unsuccessful search for repayment, enforced the financial collateral and appropriated the shares. SAVA filed a lawsuit and, with an interim injunction, obtained a return to the state prior to the appropriation. The case ended with a court settlement and without a final judgement, so there is no court argumentation available. Nonetheless, it is an important case and the first major court dispute in our legal space about financial collateral. It shows us the dilemmas that may arise in practice and connects issues of abuse of enforcement procedure and the impact of insolvency proceedings to financial collateral.

• Keywords: financial collateral, Financial Collateral Act, designated parties of the agreement, out-of-court enforcement procedures, SAVA d.d., DUTB d.d., Sava Turizem d.d., DUP1 d.d.