Abstract

The article discusses the status of a collateralized creditor in rehabilitation proceedings. The author analyses the scope of including by law collateralized debts into the arrangement when it turns out that the amount of debt exceeds the value of the collateral. The author enumerates the rights of collateralized creditors with respect to challenging the voting powers set by the administrator in rehabilitation proceedings. The article also analyses a very controversial issue of the effectiveness of assignment of future claims vis-á-vis rehabilitation assets. In this respect the author postulates that this issue should be unequivocally resolved by the Supreme Court or -- if need be -- the legislator. Finally, the article analyses the rights of a pledgee to take over the pledged asset. It is postulated that despite the fact that the rehabilitation proceedings have been opened such a possibility is not excluded since the term “enforcement” does not cover satisfaction of a creditor by way of taking ownership of the pledge.