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Trust fund in Business Relations
Sýkora, Milan ; Černá, Stanislava (advisor) ; Zahradníčková, Marie (referee)
Trust Fund in Business Relations Author: Milan Sýkora Supervisor: prof. JUDr. Stanislava Černá, CSc. This diploma thesis deals with transplantation of trusts into the Czech Civil Code in the form of "svěřenský fond" (fiduciary fund) and with possibilities of this instrument in the world of commerce. The essential question is whether svěřenský fond is capable of replacing Anglo-Saxon trust in the following standard financial transactions: (i) syndicated loans, (ii) issues of bonds, (iii) subordination, (iv) securitization and (v) collective investment. In total, this thesis comprises of seven chapters, including the Introduction and the Conclusion. After an introduction, uncommonly, a prologue follows. This Prologue outlines a new, unusual instrument of the Czech law - svěřenský fond. It refers to the particular legislation and outlines questions that arise with this recently transplanted device. The third chapter defines trust using comparative law and deals with its historical development both on the British Islands and in the civil and mixed jurisdictions. The second subchapter argues that the so-called obstacles of trust reception into civil law are not based on solid arguments. Further, I describe experience of trust reception in selected civil law and mixed jurisdictions. In the fourth...
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In Rem Security Interests in Syndicated Loan Finance
Živanský, Jakub ; Liška, Petr (advisor) ; Elek, Štefan (referee)
This thesis analyses the legal regime of in rem security interests, in particular pledges and security assignments of rights, in the context of syndicated loan finance. The thesis draws mainly from the Act No. 89/2012 Coll., the Civil Code, and the Act No. 90/2012 Coll., on Commercial Companies and Cooperatives (the Corporations Act), and related legal acts, case law and jurisprudence. In the first chapter, the author describes the main elements of a facilities agreement and the typology of loans. The term syndicated loan is defined as a bank loan provided by two or more creditors, who are not joint and severe creditors among themselves, and which is usually secured by in rem security interests. The second chapter of the thesis introduces the area of securing debts and describes the security and reimbursement functions of security interests. In the third and fourth chapter, the author details the main attributes of in rem security interests. The thesis focuses on the secured party, the security provider and the secured debt whereas emphasis is given on the security agent, whose position can be structured using the institutes of joint and severe creditorship, administration of security, trust and parallel debt. The thesis deals with the ranking of security interests and negative pledges. The author states...
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Trust fund in Business Relations
Sýkora, Milan ; Černá, Stanislava (advisor) ; Zahradníčková, Marie (referee)
Trust Fund in Business Relations Author: Milan Sýkora Supervisor: prof. JUDr. Stanislava Černá, CSc. This diploma thesis deals with transplantation of trusts into the Czech Civil Code in the form of "svěřenský fond" (fiduciary fund) and with possibilities of this instrument in the world of commerce. The essential question is whether svěřenský fond is capable of replacing Anglo-Saxon trust in the following standard financial transactions: (i) syndicated loans, (ii) issues of bonds, (iii) subordination, (iv) securitization and (v) collective investment. In total, this thesis comprises of seven chapters, including the Introduction and the Conclusion. After an introduction, uncommonly, a prologue follows. This Prologue outlines a new, unusual instrument of the Czech law - svěřenský fond. It refers to the particular legislation and outlines questions that arise with this recently transplanted device. The third chapter defines trust using comparative law and deals with its historical development both on the British Islands and in the civil and mixed jurisdictions. The second subchapter argues that the so-called obstacles of trust reception into civil law are not based on solid arguments. Further, I describe experience of trust reception in selected civil law and mixed jurisdictions. In the fourth...
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Syndicated loans and their development between 2007 - 2011
Klimša, Petr ; Dvořák, Petr (advisor) ; Janda, Karel (referee)
This diploma thesis focuses on syndicated loans. It analyzes mostly the development of syndicated loans during last years from different points of view. Special attention is given to the syndicated loan market in Europe and USA. At the beginning of this paper, it is proved, that syndicated loans are important source of corporate financing. Most important characteristics of syndicated loans are mentioned after that. The chapter three deals with pricing of syndicated loans in the theoretical way. Next chapter concerns with trading of syndicated loans in secundary market in the USA. After that, syndicated loans are given to the relevance to credit derivates. Next chapter analyzes different asspects of the development of syndicated loans during last years. The chapter seven empirically proves the impact of financial crisis on syndicated loans market. There is also a comparison of spreads on syndicated loans market in Europe and USA. Last chapter focuses on the relationship between syndicated loans and GDP.
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