담보신탁과 담보권신탁에 대한 연구

A collateral trust is a trust for the purpose of securing debts, and it has been developed mainly around real estate collateral trusts. For the establishment of a collateral trust, a settlor transfers an ownership of trust asset to a trustee and designates creditors as a beneficiary of the trust, and the trustee obtains the complete legal ownership of the trust asset internally and externally. On the other hand, a security trust is a trust adopted by the newly amended Trust Act in 2012, and it is established by the way of establishing a security right for the trustee. Both of the trusts above are trusts for the purpose of securing debt. A collateral trust and a security trust have something in common in that they are trusts to secure debts. However, a trustee of a collateral trust has complete legal ownership of trust asset, while a trustee of a security trust has only collateral rights, and which makes a big difference in bankruptcy proceedings of the settlor. Recently, there has been a discussion to deny the bankruptcy remoteness of collateral trusts and treat them as collateral rights, which is thought to result from confusing the concept of collateral trusts and security trusts. In addition, collateral trusts are often treated as similar to yangdo-dambo under Korean law and Deed of Trust under US law, and which is also inappropriate. In this paper, I will examine the concepts of a yangdo-dambo under Korean law, a Deed of Trust under US law, and a security trust established by way of yangdo-dambo and what are the factors that distinguish these legal vehicles from a collateral trust.