Divergences of Property Law An Obstacle To The Internal Market? Bearbeitet von Georges Affaki, Boudewijn Bouckaert, Kristof Cox, Eric Dirix, Ulrich Drobnig, Torgny Hastad, Eva M Kieninger, Meinhard Lukas, Maurice V Polak, Willem Rank, Jacobien W Rutgers, Henk J Snijders, Andrew J Steven, Frank M Verstijlen, Reinout D Vriesendorp, Stephen Weatherill, Eric J Zippro 1. Auflage 2006. Taschenbuch. XI, 240 S. Paperback ISBN 978 3 935808 96 5 Format (B x L): 14,1 x 22,4 cm Gewicht: 336 g Zu Leseprobe schnell und portofrei erhältlich bei Die Online-Fachbuchhandlung beck-shop.de ist spezialisiert auf Fachbücher, insbesondere Recht, Steuern und Wirtschaft. Im Sortiment finden Sie alle Medien (Bücher, Zeitschriften, CDs, ebooks, etc.) aller Verlage. Ergänzt wird das Programm durch Services wie Neuerscheinungsdienst oder Zusammenstellungen von Büchern zu Sonderpreisen. Der Shop führt mehr als 8 Millionen Produkte.
Divergences of Property Law, an Obstacle to the Internal Market?
Divergences of Property Law, an Obstacle to the Internal Market? edited by Ulrich Drobnig, Henk J. Snijders, Erik-Jan Zippro Sellier. European Law Publishers
ISBN-10 3-935808-96-8 ISBN-13 978-3-935808-96-5 Die Deutsche Bibliothek verzeichnet diese Publikation in der Deutschen Nationalbibliografie; detaillierte bibliografische Daten sind im Internet über http://dnb.ddb.de abrufbar. 2006 by Sellier. European Law Publishers GmbH, München. Dieses Werk einschließlich aller seiner Teile ist urheberrechtlich geschützt. Jede Verwertung außerhalb der engen Grenzen des Urheberrechtsgesetzes ist ohne Zustimmung des Verlages unzulässig und strafbar. Das gilt insbesondere für Vervielfältigungen, Übersetzungen, Mikroverfilmungen und die Einspeicherung und Verarbeitung in elektronischen Systemen. Gestaltung: Sandra Sellier, München. Herstellung: Karina Hack, München. Druck und Bindung: AZ Druck und Datentechnik GmbH, Kempten. Gedruckt auf säurefreiem, alterungsbeständigem Papier. Printed in Germany.
Contents A. General Introduction 1. Divergences of Property Law, an Obstacle to the Internal Market? Ulrich Drobnig, Henk J. Snijders and Erik-Jan Zippro 1.1 Prologue 3 1.2 Summary of the contributions 5 1.3 Conclusions 12 B. Transfer and Creation of Property Rights in General 2. General Aspects of Transfer and Creation of Property Rights including Security Rights Frank M.J. Verstijlen 2.1 Introduction 17 2.2 Different legal systems 17 2.3 Divergences in the creation and transfer of property rights and the internal market 19 2.4 Obstacles relating to the closed list of property rights especially security rights 21 2.5 Competition between legal systems 24 2.6 Transaction costs 25 2.7 Private international law problems 27 2.8 European action 31 2.9 Conclusion 35
VI Contents 3. General Aspects of Transfer and Creation of Property Rights, including Security Rights Comments by Torgny Håstad 3.1 Introduction 37 3.2 Passing of property, main issues 37 3.3 Seller s insolvency 40 3.4 Buyer s insolvency 41 3.5 Invalidity, causal or abstraction principles, bona fidei acquisitions 43 3.6 Other breaches of contract, conditions 44 3.7 Sales for another and acquisitions for another 44 4. The Effect of Security Rights Inter Partes Andrew J M Steven C. Effects of Security Rights 4.1 Introduction 47 4.2 True securities and functional securities 48 4.3 Creating the contractual nexus 49 4.4 What obligations can be secured? 50 4.5 Obligations on the parties whilst the security subsists 51 4.6 Obligations on the parties when the security is being enforced 54 4.7 Effect of the invalidity of the security agreement 56 4.8 Areas for consideration if harmonisation is to take place 58 4.9 Conclusion 61 Appendix 62 5. The Effect of Security Rights Inter Partes; some observations from a Netherlands law perspective Comments by Reinout D. Vriesendorp 5.1 Introduction 63 5.2 The distinction between genuine and functional securities; the obligations to be secured 64 5.3 The obligations to be secured 64 5.4 The obligations of the debtor vis-à-vis the creditor 66
Contents VII 5.5 The obligations of the creditor vis-à-vis the debtor 66 5.6 Limitations on freedom of contract and judicial involvement for enforcement 67 5.7 Harmonisation of European security law: yes or no? 67 6. Effect of Security Rights vis-à-vis Third Persons Eric Dirix 6.1 Introduction 69 6.2 Pari-passu principle 70 6.3 Ranking of creditors 75 6.4 Priority conflicts 80 6.5 Enforcement of security rights and third parties 89 6.6 Transfer of secured claims 91 6.7 Concluding remarks 92 7. Effect of Security Rights vis-à-vis Third Persons Comments by Meinhard Lukas 7.1 Collateral Security Law in the European Context 95 7.2 Publicity 97 7.3 Purchase Money Security Rights 99 7.4 Concluding remarks 101 8. Recognition and Adaptation of Foreign Security Rights Ulrich Drobnig D. Recognition and Adaptation of Foreign Security Rights 8.1 Introduction 105 8.2 The Issues 106 8.3 Practical Reactions by Stakeholders 113 8.4 Conclusions 113
VIII Contents 9. Recognition, Enforcement and Transformation of Foreign Proprietary Rights a handful of observations and suggestions Comments by Maurice V. Polak 9.1 Introduction 117 9.2 European legislation and Dutch implementation: Article 4 of the Directive on combating late payment in commercial transactions and Article 92a of Book 3 of the Civil Code 118 9.3 Transformation of foreign proprietary rights: Dutch legislation-in-the-making and Dutch case law 120 9.4 Can freedom of choice solve the problems? 124 9.5 Towards a functional choice of law rule? 126 9.6 Suggestions for the future 127 10. Diversity between National Laws in the Internal Market Stephen Weatherill E. Consequences of General Standards of EU Law 10.1 Introduction 131 10.2 The law governing free movement 131 10.3 The law governing the harmonisation programme 136 10.4 The dynamic nature of the EC legal order 144 10.5 Conclusion 149 F. European Regulation of Security rights 11. Access to Civil Securities and Free Competition in the EU, a Plea for One European Security Right in Movables Henk J. Snijders 11.1 Introduction 153 11.2 Conclusions of earlier research 153 11.3 Further considerations on the problem 155
Contents IX 11.4 Private international law solutions 156 11.5 Harmonisation and unification of law 157 11.6 A European security right (ESR) in movables 159 11.7 Earlier transnational (draft) rulings 162 11.8 Characteristics and requirements 163 12. European Regulation of Security Rights Comments by Eva-Maria Kieninger 12.1 Introduction 165 12.2 The European Security Right (ESR) 166 12.3 Art. 9 UCC as a modell 169 12.4 The UNCITRAL Model Law 170 12.5 Conclusion 171 G. Legal, Economic and Social Aspects (analysis of factual obstacles to a properly functioning internal market) 13. Divergences of the Law on Securities. A Law and Economics Approach Boudewijn Bouckaert 13.1 Introduction 175 13.2 Markets and Property Rights. Markets and Securities 176 13.3 Non-possessory securities on movable goods. Economic reflections 179 13.4 Divergences in property rights systems: a typology 181 13.5 How to solve the divergence-problem? 187 13.6 Conclusion 192 14. Analysis of Obstacles to the Proper Functioning of the Internal Market: Legal, Economic and Social Aspects Comments by Georges Affaki 14.1 Introduction 195
X Contents 14.2 Do cross-country differences in the legal rights of secured creditors explain the differences in the development rate of credit activity across the countries? 196 14.3 Does a better developed credit activity cause faster economic growth? 196 14.4 The internal market 197 14.5 Conclusion 198 15. Harmonisation of National Security Rights Willem (Pim) Rank H. Harmonisation of National Security rights 15.1 Introduction 201 15.2 Harmonisation 201 15.3 Security rights 202 15.4 Why harmonisation? 204 15.5 Harmonisation is not simple 206 15.6 Methods of harmonisation (instruments) 208 15.7 Restrictive Approach 213 15.8 Functional Approach 214 15.9 Conclusion 215 16. Harmonisation of Security Rights and the Communications on Contract Law Comments by Jacobien W. Rutgers 16.1 Introduction 217 16.2 The Communications of the European Commission 218 16.3 The Common Frame of Reference and security interests in movables 219 16.4 EU-wide General Conditions 222 16.5 Optional Instrument 223 16.6 Conclusions 227
Contents XI 17. Summary of the Discussion at Leiden University Kristof Cox I. Summary of the Discussion 17.1 Introduction 231 17.2 Divergences in security law as an obstacle to the internal market 231 17.3 Solutions 235 17.4 Conclusion 239