This monograph seeks the optimal way to promote
compatibility between systems of proprietary security rights in Europe,
focusing on security rights over tangible movables and receivables. Based on
comparative research, it proposes how best to tackle cross-border problems
impeding trade and finance, notably uncertainty of enforceability and
unexpected loss of security rights. It offers an extensive analysis of the
academic literature of more recent years that has appeared in English, German,
the Scandinavian languages and Finnish. The author organises the concrete means
of promoting compatibility into a centralised substantive approach, a
centralised conflicts-approach, a local conflicts-approach and a local
substantive approach. The centralised approaches develop EU law, and the local
approaches Member State laws. The substantive approaches unify or harmonise
substantive law, while the conflicts approaches rely on private international
law. The author proposes determining the optimal way to promote compatibility
by objective-based division of labour between the four approaches. The
objectives developed for that purpose are derived from the economic functions
of security rights, the conditions for legal evolution and a transnational
conception of justice.
(Subjects: Banking and Financial Law, Commercial Law, Private
International Law)
This monograph seeks the optimal way to promote
compatibility between systems of proprietary security rights in Europe,
focusing on security rights over tangible movables and receivables. Based on
comparative research, it proposes how best to tackle cross-border problems
impeding trade and finance, notably uncertainty of enforceability and
unexpected loss of security rights. It offers an extensive analysis of the
academic literature of more recent years that has appeared in English, German,
the Scandinavian languages and Finnish. The author organises the concrete means
of promoting compatibility into a centralised substantive approach, a
centralised conflicts-approach, a local conflicts-approach and a local
substantive approach. The centralised approaches develop EU law, and the local
approaches Member State laws. The substantive approaches unify or harmonise
substantive law, while the conflicts approaches rely on private international
law. The author proposes determining the optimal way to promote compatibility
by objective-based division of labour between the four approaches. The
objectives developed for that purpose are derived from the economic functions
of security rights, the conditions for legal evolution and a transnational
conception of justice.
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