The status of the pledge creditor during the realization of the right of pledge in Macedonian Law
Date Issued
2022
Author(s)
Rodna Zivkovska
Tina Przeska
Tea Lalevska
Abstract
The paper analyses the status and rights of the pledge creditor during
the process of realization of the right of pledge.
As it is shown in the paper, in Macedonian law one of the main rights
of the pledge creditor, in case of default on part of the debtor, is the right to
demand realization of the right of pledge by sale of the pledged object, since
lex commissoria is granted only in exceptional situations. The analysis of the
Macedonian legislation shows that pledge creditors are offered various
alternatives to choose from concerning the realization of the right of pledge
such as: notary public, enforcement agents, brokers, real-estate agency,
although some of the offered alternatives aren’t viable due to insufficient
regulation, or due to the fact that they are permitted only when the right of
pledge has been acquired by contract (contract pledge).
In the legal practice, as the paper will demonstrate, the pledge creditors
usually turn to enforcement agents when conditions for realization of the right
of pledge are fulfilled. Since enforcement agents act in accordance to the
Enforcement Law, the realization of the pledge right is conducted in
enforcement proceeding. The core of problems that arise in the enforcement
proceedings lays in the fact that the provisions of the Enforcement Law are of general nature, they are not specifically adapted for the purpose of realization
of the right of pledge, nor they need to be. As it is shown in the paper,
enforcement agents are the ones that need to adapt the conduct of the
enforcement proceedings so it would serve the purpose at hand – the realization
of the right of pledge. With that in mind, the paper analyses the problems and
issues arising in enforcement proceeding and directs to the possible solution
based on the nature and regulation of the right of pledge.
the process of realization of the right of pledge.
As it is shown in the paper, in Macedonian law one of the main rights
of the pledge creditor, in case of default on part of the debtor, is the right to
demand realization of the right of pledge by sale of the pledged object, since
lex commissoria is granted only in exceptional situations. The analysis of the
Macedonian legislation shows that pledge creditors are offered various
alternatives to choose from concerning the realization of the right of pledge
such as: notary public, enforcement agents, brokers, real-estate agency,
although some of the offered alternatives aren’t viable due to insufficient
regulation, or due to the fact that they are permitted only when the right of
pledge has been acquired by contract (contract pledge).
In the legal practice, as the paper will demonstrate, the pledge creditors
usually turn to enforcement agents when conditions for realization of the right
of pledge are fulfilled. Since enforcement agents act in accordance to the
Enforcement Law, the realization of the pledge right is conducted in
enforcement proceeding. The core of problems that arise in the enforcement
proceedings lays in the fact that the provisions of the Enforcement Law are of general nature, they are not specifically adapted for the purpose of realization
of the right of pledge, nor they need to be. As it is shown in the paper,
enforcement agents are the ones that need to adapt the conduct of the
enforcement proceedings so it would serve the purpose at hand – the realization
of the right of pledge. With that in mind, the paper analyses the problems and
issues arising in enforcement proceeding and directs to the possible solution
based on the nature and regulation of the right of pledge.
Subjects
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Naucna konferencija 2022 engleski.pdf
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