The Shortcomings of the Commercial-pledge Regulation and Need for Reform

  • Annemari Õunpuu
Keywords: Commercial pledge, universal business charge, notice-filing, security rights in movables, registration of security rights


The article explores the functioning of the Estonian commercial pledge regulation in light of recent court practice and international trends. It is argued that the true meaning and place of the commercial pledge in the Estonian security rights system needs revisiting. General business security, such as the Estonian commercial pledge, is a means to pledge movables in bulk. This raises issues of the priority of a general security right to a movable and a specific security right in the same asset. Therefore, the article also deals with the various connections between the general business pledge and a notice-filing system for security rights.