Keywords
Financiación de proyecto, paquete de garantías, prenda, garantías financieras, Real Decreto Ley 5/2005., Project finance, security package, pledge, financial collateral, Royal Decree Law 5/2005.
Project Finance y la problemática del paquete de garantías
Abstract
El presente trabajo tiene como objetivo principal la descripción y análisis genérico de la taxonomía de la Financiación de Proyecto o Project Finance, haciendo hincapié en fundamentales aspectos como las partes intervinientes o los riesgos inherentes al proyecto, así como, en su problemática principal, la configuración del paquete de garantías. En particular, este trabajo pretende comprender los fundamentales aspectos de las diversas garantías otorgadas, entre las que destacan las garantías financieras al amparo de la Directiva 47/2002 y del Real Decreto Ley 5/2005 debido a su importancia de cara a la financiación de la construcción y operación de proyectos de gran diversidad que ésta modalidad permite desarrollar. La ambigüedad del requisito de “control” del beneficiario contemplado en estas normas y la falta de avance jurisprudencial sobre este aspecto en nuestro Derecho nos lleva a analizar qué entiende por “control” la STJUE de 10 de noviembre de 2016 (SIA v. SwedBank) en las garantías en cash o dinero depositado en cuenta bancaria dada en garantía mediante prenda.
The main objective of this paper is the description and generic analysis of the taxonomy of Project Finance, emphasizing fundamental aspects such as the parties involved or the risks inherent to the project, as well as, its main problem, the configuration of the security package. In particular, this work aims to understand the fundamental aspects of the diverse guarantees granted, among which the financial guarantees under Directive 47/2002 and Royal Decree Law 5/2005 stand out due to their importance for the financing of the construction and operation of projects of great diversity that this modality allows to develop. The ambiguity of the requirement of "control" of the beneficiary contemplated in these rules and the lack of jurisprudential progress on this aspect in our Law leads us to analyze what the STJUE of November 10, 2016 (SIA v. SwedBank) understands by "control" in the guarantees in cash or money deposited in a bank account given as a pledge guarantee.
The main objective of this paper is the description and generic analysis of the taxonomy of Project Finance, emphasizing fundamental aspects such as the parties involved or the risks inherent to the project, as well as, its main problem, the configuration of the security package. In particular, this work aims to understand the fundamental aspects of the diverse guarantees granted, among which the financial guarantees under Directive 47/2002 and Royal Decree Law 5/2005 stand out due to their importance for the financing of the construction and operation of projects of great diversity that this modality allows to develop. The ambiguity of the requirement of "control" of the beneficiary contemplated in these rules and the lack of jurisprudential progress on this aspect in our Law leads us to analyze what the STJUE of November 10, 2016 (SIA v. SwedBank) understands by "control" in the guarantees in cash or money deposited in a bank account given as a pledge guarantee.
Información detallada
Materias, derechos, colecciones e identificadores
URI / Handle
http://hdl.handle.net/11531/29014Rights
Attribution-NonCommercial-NoDerivs 3.0 United States