scholarly journals National Blockchain Laws as a Threat to Capital Markets Integration

2021 ◽  
Author(s):  
Matthias Lehmann
Keyword(s):  
International Institute ◽  
Private Law ◽  
Private International Law ◽  
The European Union ◽  
Legal Rules ◽  
Trade Law ◽  
International Trade Law ◽  
Commercial Code ◽  
The World ◽  
The Usa

Abstract Various states have started providing private law frameworks for blockchain transfers and crypto assets. France and Liechtenstein have adopted the first acts, while a commission of the British government sees no difficulties in extending property protection under the common law to crypto assets. In the USA, an amendment to the Uniform Commercial Code has been suggested, which has not stopped some states going their own, different way. The aim in all cases is to promote the use of modern distributed ledger technology and enhance investor protection. While these initiatives will increase legal certainty, they differ significantly. This has an important downside: there is a strong risk that the blockchain will be made subject to diverging legal rules. Similar to the world of intermediated securities, various national laws will need to be consulted to determine the rights and privileges of investors. This may increase transaction costs, thwart interoperability, and produce thorny conflict-of-laws problems. Markets risk being fragmented into national segments, with an inevitable diminution of their depth and liquidity. As a remedy, this article suggests developing uniform rules for the blockchain. Before national legislators and judges once again divide the world through idiosyncratic rules, the private law of crypto assets should be harmonized to the highest degree possible. Uniform rules should ideally be forged at the global level, by fora like the International Institute for the Unification of Private Law (UNIDROIT), the United Nations Commission on International Trade Law (UNCITRAL), and the Hague Conference on Private International Law. In the absence of worldwide rules, uniformization of private law should take place at the regional level—for instance, by the European Union. The article makes specific suggestions as to how this can be achieved and what the content of those rules should be.

Lawful Remedy or Illegal Response? Resolving the Issue of Foreign Subsidization Under WTO Law

2021 ◽  
pp. 1-24
Author(s):  
Victor Crochet ◽  
Marcus Gustafsson
Keyword(s):  
European Union ◽  
World Trade Organization ◽  
World Trade ◽  
The European Union ◽  
Fair Competition ◽  
Trade Law ◽  
International Trade Law ◽  
The World ◽  
Shed Light ◽  
Do So

Abstract Discontentment is growing such that governments, and notably that of China, are increasingly providing subsidies to companies outside their jurisdiction, ‘buying their way’ into other countries’ markets and undermining fair competition therein as they do so. In response, the European Union recently published a proposal to tackle such foreign subsidization in its own market. This article asks whether foreign subsidies can instead be addressed under the existing rules of the World Trade Organization, and, if not, whether those rules allow States to take matters into their own hands and act unilaterally. The authors shed light on these issues and provide preliminary guidance on how to design a response to foreign subsidization which is consistent with international trade law.

scholarly journals A Pluralist Approach to the Law of International Sales

2017 ◽  
Vol 20 ◽  
pp. 1
Author(s):  
Juana Coetzee
Keyword(s):  
International Trade ◽  
Private Law ◽  
The European Union ◽  
Tariff Barrier ◽  
Trade Law ◽  
International Trade Law ◽  
Sales Contracts ◽  
Uniform Law ◽  
Common European Sales Law ◽  
International Sales

International trade can support economic development and social upliftment. However, people are often discouraged from contracting internationally due to differences in legal systems which act as a non-tariff barrier to trade. This article focuses on the private law framework regulating international contracts of sale. During the twentieth century, the problem of diverse laws was primarily addressed by global uniform law such as the United Nations Convention on Contracts for the International Sale of Goods (CISG). However, uniform law is rarely complete and has to be supplemented by national law, trade usage or party agreement. Because of gaps that exist in the CISG the Swiss government made a proposal for a new global contract law. But is this a feasible solution to the fragmentary state of international trade law? In Europe, signs of reluctance are setting in towards further harmonisation efforts. The Proposal for a Common European Sales Law (CESL) was recently withdrawn, and now Britain has voted to leave the European Union; rumour having it that more countries might follow. The current private law framework for international sales contracts consists of a hybrid system where international, national, state and non-state law function side by side. This article submits that universalism is not per se the most efficient approach to the regulation of international sales law and that economic forces require a more varied approach for business-to-business transactions. The biggest challenge, however, would be to manage global legal pluralism. It is concluded that contractual parties, the courts and arbitral tribunals can effectively manage pluralism on a case-by-case basis.        

Recent developments in the law of secured transactions of movables under the new Chinese Civil Code

2021 ◽  
Author(s):  
Jing Zhang
Keyword(s):  
Civil Code ◽  
International Institute ◽  
Trade Law ◽  
International Trade Law ◽  
Filing System ◽  
Commercial Code ◽  
Secured Transactions ◽  
Recent Developments ◽  
The Law ◽  
International Conventions

Abstract In May 2020, the first Chinese Civil Code was enacted. This Civil Code incorporates several modifications of the law of secured transactions concerning corporeal movables and receivables. These modifications are made under the influence not only of international conventions, model laws, and legislative guides by the International Institute for the Unification of Private Law and the United Nations Commission on International Trade Law but also of overseas legislation, especially Article 9 of the Uniform Commercial Code. First, a semi-functional approach is taken by the Civil Code. The security agreement includes, in addition to typical security contracts, ‘other contracts having a function of security’. Consequently, the rules concerning the property right of charge (hypothec) are also applicable to reservation of ownership, financial lease, factoring, and other security interests, provided that there is no lex specialis. This leaves a larger space of autonomy for individual parties. Moreover, the new Civil Code intends to construct a more inclusive register by requiring reservation of ownership, financial lease, factoring, and other types of security rights to be registered to be effective against third parties. The future register for ordinary corporeal movables and claims will very possibly be a notice-filing system.

Part 2 National and Regional Reports, Part 2.5 Latin America: Coordinated by Lauro Gama and José Antonio Moreno Rodríguez, 63 Paraguay: Paraguayan Perspectives on the Hague Principles

2021 ◽  
Author(s):  
Rodríguez José Antonio Moreno
Keyword(s):  
Latin America ◽  
Member State ◽  
International Law ◽  
International Institute ◽  
Private International Law ◽  
State Law ◽  
Conflict Of Laws ◽  
Commercial Code ◽  
The World ◽  
The Hague

This chapter highlights Paraguayan perspectives on the Hague Principles. Paraguay does not have a law dealing comprehensively and organically with Private International Law. The Civil and Commercial Code of 1987 contains the basic regulation on conflict of laws, and other provisions on the field can be found scattered in several special laws dealing with specific matters. Paraguay adhered, as a Member State, to the Hague Conference on Private International Law via Law 2555 of 2005. It is the first country in the world to legislate on international contracts heavily influenced by the Hague Principles. The Paraguayan law on international contracts drawn upon the Hague Principles openly allows the application of non-State law, and the International Institute for the Unification of Private Law (UNIDROIT) Principles clearly qualify as such.

Part V Legal and Conduct Risk in Interconnected Financial Markets, 18 The Role of International Institutions in Financial Law Reform

2018 ◽  
Author(s):  
Mccormick Roger ◽  
Stears Chris
Keyword(s):  
International Trade ◽  
United Nations ◽  
Financial Institution ◽  
International Institute ◽  
Private Law ◽  
Governmental Organization ◽  
International Financial Institution ◽  
Trade Law ◽  
International Trade Law ◽  
The United Nations

This chapter focuses on United Nations Commission on International Trade Law (UNCITRAL), the International Institute for the Unification of Private Law (UNIDROIT) and the European Bank for Reconstruction and Development (EBRD). UNCITRAL was created in 1966 by a resolution of the United Nations General Assembly. It was given a general mandate to further the progressive harmonization and unification of international trade law and regards itself as ‘the core legal body of the United Nations system in the field of international trade law’. UNIDROIT is an independent inter-governmental organization with 63 member states. The purposes of UNIDROIT are to ‘examine ways of harmonising and coordinating the private law of States and groups of States, and to prepare gradually for the adoption by the States of uniform rules of private law’. The EBRD is an international financial institution that supports projects in more than 30 countries to promote transition to a market economy.

PRIVATE INTERNATIONAL LAW IN THE 21ST CENTURY: CONTEMPORARY CHALLENGES AND DEVELOPMENT PROSPECTS

Lex Russica ◽  
2019 ◽  
pp. 30-36 ◽  
Author(s):  
O. F. Zasemkova
Keyword(s):  
International Law ◽  
21St Century ◽  
Special Importance ◽  
Private Law ◽  
Private International Law ◽  
Trade Law ◽  
International Trade Law ◽  
New Directions ◽  
Important Trend ◽  
Development Prospects

In the context of integration, globalization and increasing complexity of private law relations complicated by a foreign element, private international law acquires special importance. Being influenced by the processes named above, it is not only rapidly developing and acquiring new directions for development. Private international law is also facing new global challenges. In this regard, the article attempts to analyze the main trends in the development of private international law in the 21st century revealing new trends and threats that it may face in modern conditions.Based on the results of the analysis, the author comes to the conclusion that the main trends in the development of private international law include the expansion of the scope of its application, as well as the unification and harmonization carried out within the framework of various international organizations at both universal and regional levels. The Hague Conference on Private International Law and the United Nations Commission on International Trade Law (UNCITRAL) play the most important role in this process. Finally, one more important trend in the development of private international law is constituted by the attempt to adapt to new, rapidly changing realities leading to a substantial modernization of the methods of cross-border private law disputes resolution.

Le Canada et l’unification Internationale du droit privé

1995 ◽  
Vol 32 ◽  
pp. 3-37
Author(s):  
Christiane Verdon
Keyword(s):  
International Law ◽  
International Organizations ◽  
Federal State ◽  
Private Law ◽  
Private International Law ◽  
Trade Law ◽  
International Trade Law ◽  
American States ◽  
The Hague ◽  
Le Canada

SummaryThis article reviews Canada's participation in the international unification of private law and private international law that is carried out by international organizations such as The Hague Conference on Private International Law, Unidroit, the United Nations Commission on International Trade Law, and the Specialized Conferences on Private International Law of the Organization of American States. It describes the new mechanisms that have been established to facilitate this participation, since the conventions developed in these organizations often deal with matters that fall within provincial kgislative competence and thus need to be implemented by the provinces. The new “territorial federal State clause” that Canada has had inserted in these conventions and the federal-provincial consultation mechanisms that have been put in place have been instrumental in facilitating Canada's ratification of conventions that unify private law and private international law.

scholarly journals Koordinacija stečajnih postupaka – sa posebnim osvrtom na transfer sredstava stečajne mase i stečaj povezanih društava / Coordination of Bankruptcy Proceedings - with special emphasis to the the transfer of bankruptcy assets and to bankruptcy of a members of group of companies

2016 ◽  
Vol 6 (6) ◽  
pp. 5
Author(s):  
Vladimir Čolović ◽  
Siniša Aleksić
Keyword(s):  
International Law ◽  
Private International Law ◽  
Trade Law ◽  
International Trade Law ◽  
The Status ◽  
The Usa ◽  
Model Law ◽  
Insolvency Proceedings ◽  
The Relationship ◽  
The Eu

The possibility to start against the debtor more bankruptcy proceeding, of which one is main bankruptcy, and the other are secondaries or specials, has led to the necessity of defining the rules governing coordination of these proceedings, in order to achieve the unity of the bankruptcy assets and to the equal settlement of creditors. Today, national laws and international statutory sources contain rules governing the coordination of bankruptcy proceedings. However, these rules have their basis in Private International Law. The author presents the rules of the EU Regulation No. 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings, then the rules of Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law, and, also, the rules of the USA legislature. The paper analyzes the status of the foreign bankruptcy decision on the territory of the country of recognition, then, the relationship and cooperation between the subjects referred to bankruptcy proceedings, in particular between the bankruptcy trustees, as well as between foreign bankruptcy trustee and the court, and the transfer of bankruptcy assets from the secondary to the main bankruptcy proceeding, which defines the status of the main relative to the secondary proceeding. Special attention is paid to bankruptcy of a members of group of companies.

9/11 and Armageddon: the Christian Right and George W. Bush

2003 ◽  
Vol 2 (1) ◽  
pp. 33-50
Author(s):  
Göran Gunner
Keyword(s):  
New York ◽  
Christian Right ◽  
Political Life ◽  
Religious Leader ◽  
The European Union ◽  
The World ◽  
Mega Church ◽  
The Usa ◽  
Jerry Falwell ◽  
High Degree

Authors from the Christian Right in the USA situate the September 11 attack on New York and Washington within God's intentions to bring America into the divine schedule for the end of the world. This is true of Pat Robertson and Jerry Falwell, and other leading figures in the ‘Christian Coalition’. This article analyses how Christian fundamentalists assess the roles of the USA, the State of Israel, Islam, Iraq, the European Union and Russia within what they perceive to be the divine plan for the future of the world, especially against the background of ‘9/11’. It argues that the ideas of the Christian Right and of President George W. Bush coalesce to a high degree. Whereas before 9/11 many American mega-church preachers had aspirations to direct political life, after the events of that day the President assumes some of the roles of a mega-religious leader.

UNIFIKASI HUKUM DAGANG INTERNASIONAL OLEH ORGANISASI-ORGANISASI INTERNASIONAL

1980 ◽  
Vol 10 (5) ◽  
pp. 423
Author(s):  
Sudargo Gautama
Keyword(s):  
International Trade ◽  
The Body ◽  
Private Law ◽  
Trade Law ◽  
International Trade Law ◽  
Relationship Of

Apa yang diartikan dengan "Hukum Dagang Internasional" (International Trade Law) ? Menurut laporan dari pada Sekjen PBB, yang telah diajukan untuk memenuhi Resolusi Sidang Umum no. 2102/XX/ttgl. 20 Desember 1965 dengan istilah dimaksudkan : "Keseluruhan kaidah-kaidah yang mengatur hubungan-hubungan dagang bersifat Hukum Perdata dan mencakup berbagai negara" (The body of rules governing commercial relationship of a private law nature involving different countries).Sebagai topik-topik yang termasuk bidang ini dan dianggap dapat diselidiki dengan cara kerjasama khusus antara lain disebut :Jual Beli Internasional :(1) Mengenai pembentukan kontrak-kontrak.(2) Mengenai perjanjian-perjanjian keagenan.(3) Mengenai jual beli secara eksklusip.Surat-surat berharga (negotiable instruments) dan kredit dagang oleh pihak Bank.Hukum berkenaan dengan diadakannya kegiatan-kegiatan dagang dibidang Hukum Dagang.Asuransi.Pengangkutan : Transport barang     —  Pengangkutan barang melalui laut.     —  Pengangkutan barang melalui udara.     —  Pengangkutan barang melalui jalanan;     —  Pengangkutan barang melalui kereta api;     —  Pengangkutan barang melalui perairan di dalam negeri.Hukum dagang milik perindustrian dan Hak Cipta;Arbitrase perdagangan

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