CEU Electronic Theses and Dissertations, 2019
| Author | Bastola, Anish |
|---|---|
| Title | Floating Charge And Receivership In Project Finance: Lessons For Nepal |
| Summary | Financing of long-term infrastructure, industrial and energy projects involves a complex set of transactions, often referred to as ‘Project Finance’. This, in particular, includes taking of security interest over some or all of the project assets, especially on receivables to be generated by the completed project to secure financing. The security, however, may play more roles besides being a precondition for getting financing. From this perspective, English law’s floating charge is particularly suitable for this context because through it the creditors may encumber all present and future assets (including receivables) of the project company and does not require registration of security against each specific asset. More importantly, the floating charge may additionally give the lenders the right to appoint a receiver upon crystallization and through that take over the entire project if deadlock arises. Such step-in right of creditors is often crucial for the completion of projects. Nepal has adopted separate law on secured transaction law, among others, to regulate and address the concerns of lenders in project finance. The law is, however, silent on floating charges, the possibility of the appointment of receivers and on the concomitant step in rights. In light of this deficiency of Nepalese law, this thesis will examine the concept of floating charge and receivership offered by English law specifically in the context of project finance. The thesis will try to show and pave the way for further research that the English experiences with the floating charge and receivership can become an important method to ensure successful completion and running of various projects in financed via project finance in Nepal. |
| Supervisor | Tajti Tibor |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2019/bastola_anish.pdf |
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