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Improve the study of the floating charge in China

Author: WangYaFei
Tutor: WangQuanDi
School: Fudan University
Course: Legal
Keywords: Floating mortgage Fixing of floating mortgage Receiver
CLC: D923
Type: Master's thesis
Year: 2011
Downloads: 62
Quote: 0
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Abstract

With the robust economic development of China, enterprises-the main driver of economic growth-are usually in great need of massive funds and raise them from the market. The floating mortgage, which can optimize guaranteed value of all assets of enterprises and meanwhile ensure regular operation hereof, has been finally clearly underpinned in PRC Property Rights Law. The floating mortgage mechanism has its exclusive advantages, such as optimizing the guaranteed value of enterprises’assets, simplifying the set-up and operating formalities, and procuring new value to be created. The aforementioned advantages settle the problem of setting up guarantee on floating assets of enterprises and therefore provide an effective guaranteeing tool for enterprises to finance in capital market. Therefore, a well-rounded understanding of floating mortgage mechanism and an in-depth studying of the models in different countries will help in analyzing advantages of this mechanism, researching the current economic and legal environment in China and hence improving the floating mortgage mechanism in China.Apart from the introduction and conclusion, the paper includes the following four chapters:Chapter One gives a general illustration of floating mortgage mechanism, respectively discussing its definition, origin, features, values and defects.Chapter Two draws on experience of different countries in designing this mechanism, especially that of USA, Japan, and Germany. The UCC stipulates a legal mechanism similar to floating mortgage; Japan does not go far in this respect; while there is no clear stipulation, Germany uses various guaranteeing tools to get the effect of floating mortgage.Chapter Three introduces the existent floating mortgage mechanism in China, including the conditions, registration authorities and effectuation. It also explains why an improvement of floating mortgage mechanism is needed in China and illustrates the breakthrough of this mechanism to the traditional guaranteeing mechanism.Chapter Four briefly discusses the problems of floating mortgage mechanism in China and their solutions. This chapter places emphasis on the subject matter, scope, registration authorities, business code, preemption right, fixing of floating mortgage and receivers.

Improve the study of the floating charge in China

Abstract

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