Details
| Original language | English |
|---|---|
| Pages (from-to) | 808-825 |
| Number of pages | 18 |
| Journal | Uniform Law Review |
| Volume | 22 |
| Issue number | 4 |
| Publication status | Published - 13 Dec 2017 |
Abstract
Secured transactions that cross national borders often involve assignments of receivables. Lawyers dealing with these transactions face the question of which law is applicable to the proprietary effects of assignment. This problem takes on new dimensions when insolvency issues are relevant to the case as well. This article discusses the possible approaches governing the effectiveness of assignments against third parties. For this purpose, the authors investigate both the EU law and the recently adopted UNCITRAL Model Law on Secured Transactions, weighing the respective provision's advantages and disadvantages. The general considerations are each followed by case examples. After an outline of the regulations set by the EU Insolvency Regulation and their interplay with the proprietary effects of assignments, it is proposed that an alignment of the law applicable to the proprietary effects of the assignment with the law governing insolvency would provide the best solution. In any case, the authors argue, there should be some kind of legal regulation on the European level.
ASJC Scopus subject areas
- Social Sciences(all)
- Law
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In: Uniform Law Review, Vol. 22, No. 4, 13.12.2017, p. 808-825.
Research output: Contribution to journal › Article › Research
}
TY - JOUR
T1 - The law applicable to proprietary effects of assignment and ist interplay with insolvency
AU - Heinze, Christian
AU - Warmuth, Cara Janine
N1 - Publisher Copyright: © The Author (2017).
PY - 2017/12/13
Y1 - 2017/12/13
N2 - Secured transactions that cross national borders often involve assignments of receivables. Lawyers dealing with these transactions face the question of which law is applicable to the proprietary effects of assignment. This problem takes on new dimensions when insolvency issues are relevant to the case as well. This article discusses the possible approaches governing the effectiveness of assignments against third parties. For this purpose, the authors investigate both the EU law and the recently adopted UNCITRAL Model Law on Secured Transactions, weighing the respective provision's advantages and disadvantages. The general considerations are each followed by case examples. After an outline of the regulations set by the EU Insolvency Regulation and their interplay with the proprietary effects of assignments, it is proposed that an alignment of the law applicable to the proprietary effects of the assignment with the law governing insolvency would provide the best solution. In any case, the authors argue, there should be some kind of legal regulation on the European level.
AB - Secured transactions that cross national borders often involve assignments of receivables. Lawyers dealing with these transactions face the question of which law is applicable to the proprietary effects of assignment. This problem takes on new dimensions when insolvency issues are relevant to the case as well. This article discusses the possible approaches governing the effectiveness of assignments against third parties. For this purpose, the authors investigate both the EU law and the recently adopted UNCITRAL Model Law on Secured Transactions, weighing the respective provision's advantages and disadvantages. The general considerations are each followed by case examples. After an outline of the regulations set by the EU Insolvency Regulation and their interplay with the proprietary effects of assignments, it is proposed that an alignment of the law applicable to the proprietary effects of the assignment with the law governing insolvency would provide the best solution. In any case, the authors argue, there should be some kind of legal regulation on the European level.
UR - http://www.scopus.com/inward/record.url?scp=85070799332&partnerID=8YFLogxK
U2 - 10.1093/ulr/unx039
DO - 10.1093/ulr/unx039
M3 - Article
AN - SCOPUS:85070799332
VL - 22
SP - 808
EP - 825
JO - Uniform Law Review
JF - Uniform Law Review
SN - 1124-3694
IS - 4
ER -