Okskaya Neftebaza OJSC entered into a loan agreement with Novor Joint-Stock Commercial Bank. The loan repayment was secured by the pledge of two KAMAZ vehicles. In connection with the failure of OAO Okskaya Neftebaza to commit to repay loans, the Novb JSCB filed with the court of arbitration claims to enforce the pledged property — KAMAZ vehicles. Okskaya Neftebaza OJSC stated that the pledge agreement was not valid, because at the time of its conclusion KAMAZ vehicles had not yet been transferred to the ownership of Okskaya Neftebaza OJSC, and in fact there was only a preliminary agreement with a distributor of cars. In addition, the contract of pledge of cars was not registered in the traffic police.
Are the objections of OJSC Okskaya Neftebaza justified?
When is a pledge agreement registration required?
Can cars be transferred to the property of the mortgagor without selling them at public auction?

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