- •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
t a b l e o f l e g i s l a t i o n xxxiii |
|
166(2) |
352 |
166 ff. |
368, 400, 439--440, |
|
596--597 |
169 |
352--353, 368--369 |
170(1) |
352 |
171 |
352, 368--369, |
|
596--597 |
217 ff. |
353 |
223(2) |
353 |
244(1) |
353 |
270 ff. |
172 n.6 |
455(2) |
418--419 |
Insolvency Code (old) (Konkursordnung) (KO) |
441 n.19 |
4(2) |
352 n.4 |
41(1) |
484--485 |
44 |
174 n.11 |
48 |
352 n.4 |
127(2) |
352 n.4 |
Private International Law Act (EGBGB) |
|
(1999), 43(1) |
16 n.57 |
Greece |
|
Act of 13 December 1878 (insolvency proceedings, |
|
limitation to merchants) |
179 |
Civil Code (Astikos Kodikas) (A.K.) |
|
138 |
626--627 |
139 |
626--627 |
154 |
232 |
178 |
575--576 |
179 |
575--576 |
184 |
232--233 |
239 |
288, 311, 354, 489 |
281 |
446, 575--576 |
383 |
180--181 |
390 |
180--181 |
409 |
489 |
460 |
537 |
461 |
537 |
479 |
626 |
532 |
180--181, 253, 488 |
xxxiv t a b l e o f l e g i s l a t i o n |
|
730 |
537 |
903 ff. |
232 |
904 |
401, 537 |
936 |
370--371, 445, 599 |
936(3) |
626--627 |
939 |
627 |
939--946 |
626--627 |
941(1) |
626--627 |
942 |
626--627 |
946 |
490 |
977 |
444, 488 |
977a |
179 |
978 |
181 |
984 |
446 |
987 |
446 |
1034 |
179, 181, 311, 444 |
1036 |
179--180, 232--233, |
|
311 |
1036 ff. |
180 |
1037 |
311 |
1043 |
180 |
1058 |
417--436 |
1059 |
417--436 |
1061 |
370--371 |
1094 |
181, 599 |
1095 |
446--447, 599--600 |
1110--1111 |
180 |
1211 |
535--536 |
1211--1212 |
312--313 |
1213 |
444--445 |
1215 |
180 |
1237 |
489, 535--536 |
1239 |
446 |
1247.1 |
535--536 |
1247.3 |
535--537 |
1248 |
535--537 |
1252--1254 |
536--537 |
1253 |
537--538 |
1253--1254 |
489, 535--536 |
1256 |
535--536 |
t a b l e o f l e g i s l a t i o n |
xxxv |
|
Civil Procedure Code (Kodikas Politikis Dikonomias) |
|
|
(KPolD) |
|
|
936 |
253--254, 354--355, |
|
|
445 |
|
939 |
490 |
|
Code of Private Maritime Law (Kodikas Idiotikou |
|
|
Nautikou Dikaiou) (KIND), 6 |
313 |
|
Commercial Law (1987 Draft) (DCC) |
|
|
10 |
313 |
|
12 |
313 |
|
23 |
313 |
|
280 ff. |
313 |
|
287 |
313 |
|
Commercial Law (Emborikos Nomos) (EmbN) |
|
|
537 |
490 |
|
538 |
490 |
|
576 |
599 |
|
645 |
489, 538 |
|
670 |
181 |
|
L. 635/37 |
|
|
2 |
537, 599 |
|
2(1) |
179 |
|
2(4) |
179--180 |
|
L. 711/1977 |
312, 445 |
|
L. 722/1977 |
313 |
|
L. 1665/1986 (as amended by L. 2367/1995) |
|
|
1 |
445 n.42 |
|
4(2) |
599 |
|
4(3) |
599 |
|
L. 1905/1990 (as amended by L. 2367/1995), 1(1) |
536--537 |
|
L. 2184/1920 |
312 |
|
L. 2251/1994 |
254--255 |
|
L. 2844/2000 |
180 |
|
10 |
180, 254--255, 311, |
|
|
444--445 |
|
12 |
354 |
|
16 |
312, 489, 650--651 |
|
L. 5017/1931 |
313 |
|
L.D. 17 July 1923, 35 ff |
536 |
|
L.D. 21.11/31.12 1925 |
312 |
|
xxxvi t a b l e o f l e g i s l a t i o n |
|
L.D. 1038/1949 |
312 |
L.D. 4001/1959 |
490 |
L.D. 4208/1961 |
312 |
Ireland |
|
Agricultural Credit Act 1978 |
510--511 |
Bills of Sale (Ireland) Act 1879-1883 |
210, 274, 346--347, |
|
387--388 |
Companies Act 1963 |
|
99 |
210, 274, 359--360, |
|
386--387, 510--511 |
99(2)(c) |
359--360 |
285 |
511 |
288 |
511 |
Sale of Goods Act 1893 |
207--211, 273 |
16 |
208--209 |
17 |
274--275, 428--429 |
18 |
207 |
19 |
275 |
19(1) |
428--429 |
25 |
330 |
44 |
211 |
48(3) |
210--211 |
48(4) |
210 |
Supreme Court of Judicature (Ireland) Act 1877, |
|
28(6) |
557--558 |
Italy |
|
Banking Law (Law Decree 385 of 1 Sep. as |
|
amended by Law Decree 342 of 4 Aug. 1999) |
|
46 |
498--500, 501, |
|
581--586, 593 |
46.5 |
582 n.20 |
58 |
453--454, 582--583 |
Civil Code 1865, 1882 |
47 |
Civil Code (codice civile) (c.c.) |
|
294 n.2 |
552 |
456 ff. |
198 |
644 |
582 |
|
|
t a b l e o f l e g i s l a t i o n xxxvii |
922 |
|
197 |
939 |
|
197--198, 378 n.40 |
940 |
|
197--198, 378 |
1153 |
|
319--320, 582 n.20 |
1156 |
|
319--320 |
1162 |
|
319--320 |
1173 ff. |
198 |
|
1260 ff. |
406--407, 550, 581 |
|
1264 |
|
552, 575--576 |
1344 |
|
424 |
1376 |
|
198, 236, 321--322 |
1378 |
|
198 |
1441 ff. |
236 |
|
1445 |
|
236--237 |
1454 |
|
200 |
1456 |
|
200 |
1458 |
|
607 |
1519 |
|
198--199 |
1523 |
|
267 |
1523 |
ff. |
423--424 |
1523--1524 |
319 |
|
1524 |
|
268, 283, 319, 499, |
|
|
581--582, 605, 658 |
1525 |
|
424 |
1526 |
|
266, 606--607 |
1556--1558 |
292--293 |
|
1557 |
|
292--293 |
1558 |
|
292--293 |
1703 ff. |
291 n.7, 321 |
|
1704--1707 |
291 n.7, 321 |
|
1705 |
|
357 |
1706(1) |
321--322 |
|
1707 |
|
292--293, 322, 357, |
|
|
407--408 |
1731--1736 |
291 n.7 |
|
2038 |
|
407--408 |
2082 |
|
503 |
2189 |
|
453--454 |
2556 |
|
633--634 |
2560 |
|
633--634 |
xxxviii t a b l e o f l e g i s l a t i o n |
|
2704 |
268 |
2741 |
499--500 |
2744 |
378--379, 454, 550, |
|
607--608 |
2751 bis |
501, 581--582 |
2752 ff. |
501 |
2762 |
10, 267--268 |
2778 |
267--268 |
2784 ff. |
499--500 |
2800 |
499--500 |
2810(3) |
10 |
2901 |
501--502, 503, 634 |
2914 |
322, 406--407, 633 |
Civil Procedure Code (codice di procedura civile) |
|
(c.p.c.) |
|
545 |
550--551 |
619 |
237, 266, 605 |
621 |
605--606 |
Insolvency Act (Royal Decree No 267 of 16 Mar. |
|
1942) (legge fallimentare) |
|
1 |
503 |
51 |
199 |
53--54 |
199--200, 500--501 |
64 |
501--502 |
65 |
503 |
67 |
501--504 |
67(3) |
503 |
72 |
607 |
72--83 |
200--201 |
73 |
455--456 |
74 |
266 |
75 |
201 |
80.2 |
455--456 |
103 |
200, 266 |
Law 401 of 24 July 1984 (Parma ham) |
500 n.54, 663 |
Law 52 of 21 Feb. 1991 (assignment of |
|
claims by enterprises) |
321, 551--552, 581 |
5.1(b) |
551--552 |
5.1(c) |
551--552 |
7 |
551--552 |