- •Contents
- •General editors’ preface
- •Preface
- •Contributors
- •Table of cases cited by name
- •England
- •Ireland
- •Netherlands
- •New Zealand
- •Scotland
- •South Africa
- •United States of America
- •Table of legislation
- •Austria
- •Belgium
- •Denmark
- •England
- •Finland
- •France
- •Germany
- •Greece
- •Ireland
- •Italy
- •Netherlands
- •Portugal
- •Scotland
- •South Africa
- •Spain
- •Sweden
- •Abbreviations
- •1 Introduction: security rights in movable property within the common market and the approach of the study
- •A. A short survey of the status quo
- •I. Economic reasons for the existence of security rights
- •II. Security rights in movable property: main divergencies
- •III. Private international law
- •1. Tangible movables: lex rei sitae and the limits of the doctrine of transposition
- •2. Claims: article 12 of the Rome Convention and its various interpretations
- •IV. The need for harmonisation within the EU
- •V. Attempts at harmonisation or unification: past and present
- •1. European Union
- •2. UNCITRAL
- •3. UNIDROIT
- •4. European Bank for Reconstruction and Development
- •B. The approach and purpose of the study
- •I. The ‘Common Core methodology’ as applied to secured transactions
- •II. Surveying the legal landscape against the background of a need for harmonisation
- •III. The genesis of the book
- •1. Narrowing down the topic
- •2. On terminology and the glossary
- •3. Order of the national reports
- •Bibliography
- •2 A labyrinth of creditors: a short introduction to the history of security interests in goods
- •1. Introduction
- •2. Justinian Roman law
- •3. Later developments in the European ius commune
- •4. Security interests in movables in the continental European codes
- •5. Common law and civil law
- •Bibliography
- •Brief description of key features of Article 9
- •History and context
- •Article 9 in depth
- •Creation, attachment and enforceability of a security interest
- •Scope of Article 9’s coverage
- •Perfection
- •How is perfection achieved?
- •Priority rules
- •Third-party rights
- •The filing system
- •Post-default rights and remedies
- •Conclusion
- •A. Article 9 through the eyes of an English lawyer
- •B. The values of English law
- •C. The future of English law
- •D. Summary
- •Postscript
- •Bibliography
- •5 The European Bank for Reconstruction and Development’s Secured Transactions Project: a model law and ten core principles for a modern secured transactions law in countries of Central and Eastern Europe (and elsewhere!)
- •Introduction
- •The EBRD Model Law on Secured Transactions: four objectives
- •The EBRD Ten Core Principles
- •How does the Model Law score? Answers to the questionnaire
- •Cases 1 and 2
- •Case 3
- •Case 4
- •Cases 5 and 6
- •Cases 7 and 8
- •Cases 9 and 11
- •Cases 10 and 14
- •Cases 12 and 13
- •Case 15 and a conclusion
- •Abbreviations
- •Germany
- •Austria
- •Greece
- •France
- •Belgium
- •Portugal
- •Spain
- •Italy
- •The Netherlands
- •England
- •Ireland
- •Scotland
- •South Africa
- •Denmark
- •Sweden
- •Finland
- •Evaluation/Comparative observations
- •Bibliographies
- •Germany
- •Austria
- •Greece
- •France
- •Belgium
- •Portugal
- •Spain
- •Italy
- •The Netherlands
- •England
- •Scotland
- •South Africa
- •Denmark
- •Sweden
- •Finland
- •Comparative observations
- •Glossary
- •I. Introduction
- •Questions
- •Discussions
- •Effects of bankruptcy
- •General remarks on transfer of ownership
- •Comparative observations
- •part (a)
- •Passing of ownership
- •part (b)
- •part (c)
- •Case 2: The deceived seller
- •Question
- •Discussions
- •Comparative observations
- •Abstract and causal systems
- •Protection of third parties
- •Case 3: Machinery supplied to be used by the buyer
- •Questions
- •Discussions
- •Comparative observations
- •Parts (a) and (e)
- •Part (b)
- •Part (c)
- •Part (d)
- •Case 4: Jackets for resale
- •Question
- •Discussions
- •Comparative observations
- •Case 5: Motor cars supplied and resold (I)
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Part (c)
- •(i) Solutions which do not require additional clauses or transactions
- •(iii) Assignment of the proceeds
- •(v) Contracts other than sale under retention of title (consignment and commission)
- •(vi) Rights in the sold goods other than retention of title
- •(vii) Summary
- •Case 6: Motor cars supplied and resold (II)
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Case 7: Supply of material to manufacturer (I)
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Part (c)
- •Part (d)
- •Case 8: Supply of material to manufacturer (II)
- •Questions
- •Discussions
- •Comparative observations
- •Parts (a) and (b)
- •Part (c)
- •Part (d)
- •Case 9: Too many toasters
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •(i) Validity of all-sums clauses
- •(ii) Invalidity of all-sums clauses
- •(iii) All-sums clauses and commingling
- •(iv) Invalidity of simple retention of title
- •Part (b)
- •Part (c)
- •Questions
- •Discussions
- •(i) Principle of publicity
- •(iii) Unconscionability
- •Comparative observations
- •Parts (a)--(c)
- •(i) Use of ownership for security purposes
- •(ii) Security rights based on the idea of a pledge without dispossession
- •Part (d)
- •Case 11: Bank loan for a wholesaler
- •Questions
- •Variation
- •Discussions
- •Stock-in-trade containing goods sold under retention of title
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Variation
- •Comparative observations
- •Parts (a)--(c)
- •Part (d)
- •Variation
- •Case 12: Bank loan on the basis of money claims (I)
- •Questions
- •Discussions
- •Comparative observations
- •(iii) Further requirements
- •Case 13: Bank loan on the basis of money claims (II)
- •Questions
- •Discussions
- •Comparative observations
- •Parts (a)--(c)
- •Part (d)
- •Case 14: Finance leasing of computers
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Part (b)
- •Part (c)
- •Part (d)
- •Case 15: Indebted businessman sells business to brother
- •Questions
- •Discussions
- •Comparative observations
- •Part (a)
- •Parts (b) and (c)
- •A. General tendencies
- •I. Common developments
- •1. Evolution of secured transactions law outside the Civil Codes
- •2. No unitary, functional approach to security rights
- •3. Enlarging the range of security rights
- •4. Limiting the rights of secured creditors in insolvency
- •6. The rise of contractual devices coupled with title-based security rights
- •II. Persisting differences
- •1. General attitude towards security rights in movables
- •B. Convergences and divergences in relation to specific security rights
- •I. Security rights with strong convergence
- •1. Simple retention of title
- •2. Leasing
- •II. Security rights where some elements of convergence are present but where significant differences continue to subsist
- •1. Security rights in entities of property -- enterprise charge
- •2. Security assignment of claims or charge over claims (outside retention of title)
- •3. Extensions of retention of title
- •4. Non-possessory security rights in individualised property (other than retention of title and leasing)
- •C. Possible ways towards harmonisation
- •I. Simple retention of title
- •II. Harmonisation or unification beyond simple retention of title
- •1. Form, scope and context
- •2. Main policy choices concerning the substantive rules
- •(a) Uniform, functional approach
- •(b) Range of possible collateral
- •(c) Publicity
- •(d) Priority
- •(e) Special rules for purchase-money security interests
- •Bibliography
- •Index by country
- •Index by subject
Table of legislation
Austria |
|
Avoidance Act (Anfechtungsordnung) |
|
2 |
487 |
2(a) |
625--626 |
2(b) |
626 |
3 |
487 |
Civil Code (ABGB) |
|
9 |
418 |
297a |
252--253 |
366 |
308 |
367 |
307--309 |
371 |
308 |
380 |
174--175 |
416 |
369 |
423 |
174--175 |
426 |
175--176 |
427 |
175--176 |
428 |
175--176 |
429 |
175--176, 178 |
452 |
310 |
871 |
178 n.31 |
874 |
232 |
879(1) |
486 |
918 |
177, 251 |
1052 |
176 n.24 |
1063 |
176, 252 |
1090 ff. |
597--598 |
xxii
|
t a b l e o f l e g i s l a t i o n |
xxiii |
1395 |
535 |
|
1409 |
625 |
|
1409(2) |
625 |
|
1409(3) |
625 |
|
1431 |
232 |
|
1811 |
175 |
|
Commercial Code (4 EVHGB) |
|
|
8/21 |
177 |
|
25 |
625, 645 |
|
Consumer Protection Act |
598 n.10 |
|
Execution Act (Exekutionsordnung) (EO) |
37 |
|
Insolvency Code (Konkursordnung) (KO) |
|
|
1(1) |
177 |
|
11 |
251--252 |
|
12 |
487 |
|
21 |
598 |
|
21(1) |
177, 251--252 |
|
24(1) |
598 |
|
28(a) |
486 |
|
28(b) |
487 |
|
28 N 4 |
625--626 |
|
29 |
487 |
|
30(1) N 1 |
487--488 |
|
30(1) N 3 |
487 |
|
31 |
487--488 |
|
45 |
178 |
|
46(1) N 6 |
535 |
|
Belgium |
|
|
Act of 25 Oct. 1919 (nantissement de fonds de |
|
|
commerce) |
493 |
|
2 |
493 |
|
Bankruptcy Act |
|
|
12 |
494--495 |
|
16 |
187 |
|
17(3) |
494--495 |
|
20 |
494--495 |
|
101 |
187, 260, 374, |
|
|
422 |
|
xxiv |
t a b l e o f l e g i s l a t i o n |
|
|
103 |
602 |
|
104 |
189 |
Civil Code (C.civ) |
|
|
|
570 |
374 |
|
1138 |
186--187 |
|
1141 |
71--72, 186--187 |
|
1167 |
494--495, 629--630 |
|
1184 |
188--189 |
|
1321 |
629--630 |
|
1583 |
186 |
|
1612 |
187--188 |
|
1690(2) |
346--347 |
|
1690 ff. |
542--543, 649--650 |
|
2075 |
543, 578 |
|
2078 |
79 |
|
2279 |
71--72, 186--187, |
|
|
234--235, 259--260, |
|
|
315, 374--375, 474, |
|
|
629 |
Commercial Code, Title VII, 14 |
189 |
|
Judicial Code, 1514 |
259--260, 629 |
|
Law of 6 July 1994 |
55, 346 n.150 |
|
Mortgage Act |
|
|
|
7 |
404 |
|
20, 5◦ |
187--189 |
|
20, 7◦ |
189 |
Royal Decree of 10 Nov. 1967 |
601 |
|
|
1(1) |
449 |
Warrant Act 1862 |
493 |
|
Denmark |
|
|
Bankruptcy Act |
|
|
|
61 |
615 |
|
64 |
641 |
|
70 |
518--519 |
|
74 |
518--519, 641 |
|
85 |
468--469 |
|
91 |
469 n.106 |
|
t a b l e o f l e g i s l a t i o n |
xxv |
Bonds Act, 31 |
563, 589 |
|
Credit Agreements Act |
|
|
21 |
216 |
|
50 |
217 |
|
Part 10 |
278--279 |
|
Kommisionsloven |
|
|
54 |
337 |
|
57 |
361 |
|
58 |
361 |
|
Registration of Property Act as amended |
|
|
1992/1994 |
|
|
37 |
468, 517 |
|
42(d) (2) |
279, 338, 467 |
|
47(a) |
517 |
|
47(b) |
517 |
|
47(2)(b) |
468 |
|
Sale of Goods Act |
|
|
28(2) |
216 |
|
39--41 |
217 |
|
Tinglysningsloven, 42(d) |
337 |
|
England |
|
|
Bankruptcy Act 1914 |
636 n.31 |
|
Bills of Sale Acts 1878 ff. |
51--52, 85, 228, |
|
|
346--347, 508, 556 |
|
Companies Act 1985 |
|
|
196 |
84--85 |
|
395 |
92--93, 228, 460--461, |
|
|
556 |
|
395--396 |
85--86, 270--271 |
|
396 |
556 |
|
Contracts (Rights of Third Parties) |
85 n.15 |
|
Act 1999 |
|
|
County Courts Act 1984, 98 |
270 |
|
Factors Act 1889, 9 |
358--359 |
|
Hire Purchase Act 1964 |
610--611 |
|
Insolvency Act 1986 |
327 |
|
8(3) |
88 |
|
10--11 |
88 |
|
xxvi |
t a b l e o f l e g i s l a t i o n |
|
|
15 |
88 |
|
29(2) |
88--89 |
|
40 |
84--85, 459, 508 |
|
94 |
91 |
|
107 |
84--85, 508 |
|
115 |
508 |
|
127 |
326--327 |
|
156 |
508 |
|
175 |
84--85, 459, 508 |
|
175(2)(a) |
508 |
|
178 |
461--462, 611 |
|
183(3)(a) |
239--240 |
|
238 |
328 |
|
240 |
328 |
|
245 |
328, 509 |
|
315 |
461--462 |
|
328 |
84--85 |
|
328(2) |
508 |
|
339 |
328, 636 |
|
341 |
328, 636 |
|
342 |
636 |
|
344 |
556 |
|
386 |
84--85, 459--460 |
|
423 |
636 |
|
425 |
636 |
|
Schedule 6 |
84--85, 459--460 |
|
Schedule 8, para. 17 |
508 |
|
Schedule 9, para. 22 |
508 |
Insolvency Rules |
|
|
|
4.218--20 |
508 |
|
4.95--9 |
508 |
|
6.202 |
508 |
|
6.224 |
508 |
|
12.2 |
508 |
Law of Property Act 1925 |
|
|
|
94 |
87 n.22, 328 |
|
136 |
555--556 |
|
205 |
87 n.22 |
Law of Property (Miscellaneous Provisions) |
|
|
Act 1989 |
206 |
|