The Applicable Law for the Third-Party Effects of Assignment of Claim – the Approach of the United Kingdom

2020 ◽  
Author(s):  
Michaela Garajová
Keyword(s):  
United Kingdom ◽  
European Commission ◽  
Market Integration ◽  
Transition Period ◽  
Third Party ◽  
The European Union ◽  
The Third ◽  
Cross Border ◽  
The United Kingdom ◽  
The Third Party

The European Commission proposed a new regulation related to the law applicable to third-party effects of the assignment of claims. By this regulation the European Commission is aiming at increasing cross-border transactions, investments and market integration. However, the proposal is facing negative positions of member states, especially the United Kingdom. Even though the United Kingdom will not be obliged to follow the rules from the proposal, because it will come into effect after the transition period ends, its approach on this matter will regulate the third party effects of the assignment of claims in case the of cross-border transactions between a person from a member state and from the United Kingdom. Taking into account the difference between the approaches of the European Union and the United Kingdom, persons involved may get into more legal uncertainty than before.

Development of Rules for Determining Applicable Law for the Third-party Effects of Assignment of Claims

2019 ◽  
pp. 138-159
Author(s):  
Michaela Garajová
Keyword(s):  
European Commission ◽  
Market Integration ◽  
Third Party ◽  
Added Value ◽  
Legal Certainty ◽  
Applicable Law ◽  
The Third ◽  
Cross Border ◽  
Legal Risks ◽  
The Law

Due to the lack of legal certainty in determining the law applicable to third-party effects of the assignment of claims and, consequently, determining the law applicable to the owner of the claim after a cross-border transaction, the European Commission proposed a new regulation aimed at increasing cross-border transactions investment and market integration. The aim of the new regulation is clear and the reasons for its proposal are understandable. Nevertheless, we wonder what impact the new regulation will have on cross-border transactions if it is adopted as it is right now. Will these uniform rules reduce legal risks and bring significant added value to financial markets?

scholarly journals The Use of Receivables as Collateral in Business Practices in Indonesia

Yuridika ◽  
2021 ◽  
Vol 36 (2) ◽  
pp. 427
Author(s):  
Rio Christiawan
Keyword(s):  
United Kingdom ◽  
Civil Law ◽  
Third Party ◽  
Business Practices ◽  
The Third ◽  
The United Kingdom ◽  
Article 9 ◽  
The Third Party ◽  
To Receive

AbstractThis article discusses the enforceability of Article 9 of Law No. 42 of 1999 on Fiduciary Guarantee that allows the use of receivables as debt collateral in business practices in Indonesia. Receivables bound by fiduciary collateral is deemed as a special collateral— in the context of civil law, a special collateral will be prioritized in case the debtor does not voluntarily make when due. In business practices, long-term receivables will be established following an agreement between a debtor and a third party, and the receivables that the debtor is entitled to receive from the third party will be provided as collateral to secure the debtor’s obligations under his loan agreement with the creditor. The issue discussed in this paper is the fact that although theoretically special collateral in the form of receivables should be able to increase the creditor’s assurance of getting repaid, in practice long-term receivables put higher risk on the creditor instead. As comparison, this paper uses the accounts receivables fiduciary in the United Kingdom. The Writing Method used in this paper is the normative juridical approach with a focus on conducting juridical studies regarding the creditors' risk in the use of receivables, specifically long-term debt collateral. This paper shows that receivables that are used as collateral in fiduciary agreements actually put the greatest risk on the creditor; especially if the agreement between the debtor and the third party stipulates that in case the debtor fails to fulfil his obligations, all receivables that he is supposed to receive from the third party will be aborted and become non-existent. 

The Consequences of a Third Party Decision on Coopetition Strategies

2016 ◽  
Vol 14 (2) ◽  
pp. 1-19
Author(s):  
Anne-Sophie Fernandez ◽  
Francoise Pierrot
Keyword(s):  
Third Party ◽  
The European Union ◽  
Longitudinal Case Study ◽  
Accounting Standard ◽  
The Third ◽  
Setting Process ◽  
The Us ◽  
The Third Party ◽  
Accounting Standard Setting

Coopetition is a paradoxical strategy combining simultaneously cooperation and competition. Previous scholars investigated the role of the third-party in coopetition dynamics: it can initiate and drive the coopetition strategy or it can be involved in the management of the relationship. But the consequences of this involvement remain under-investigated. This research aims to fill this gap: what are the consequences of the involvement of a third-party in a coopetition strategy on the partners and their relationship? To answer this question, we conducted a longitudinal case study of coopetition strategies between two institutions the FASB and the IASB in the specific context of the global accounting standard-setting process and convergence process between the US GAAPs and the IFRSs.Our findings enable us to identify three different phases in the process. We provide evidence on the role of the third-party (the European Union in the case) in the evolution of the coopetition dynamic between the FASB and the IASB, and analyze the consequences on both partners and their relationship.

SOCIAL RIGHTS OF THE POLES IN THE UNITED KINGDOM AFTER BREXIT

2020 ◽  
Vol 556 (7) ◽  
pp. 12-17
Author(s):  
Paweł Kaleta
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Great Britain ◽  
Northern Ireland ◽  
Transition Period ◽  
Point Of View ◽  
Social Rights ◽  
The European Union ◽  
The United Kingdom ◽  
The Social

Withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union (Brexit) has definitely been bringing various consequences in the field of social security. It is therefore worthwhile to analyse it from the point of view of the social rights of Poles residing in the United Kingdom (as well as, in a comparative and auxiliary manner, of the British residing in Poland), following the formal conclusion of the withdrawal. The article therefore synthetically presents this current, post-Brexit situation, taking into account the ongoing transition period as well as the perspective of negotiations on the possible agreement(s) on future EU-UK relations. Notably, the rights in question have been preserved in the transition period, but their status afterwards remains open.

2. The European Union and United Kingdom competition regimes

2019 ◽  
pp. 27-56
Author(s):  
Sandra Marco Colino
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Market Integration ◽  
Competition Law ◽  
The European Union ◽  
The United Kingdom ◽  
Competition Laws ◽  
Eu Competition Policy ◽  
The Uk ◽  
Substantive Law

This chapter discusses competition law in the European Union and United Kingdom. ‘Undertakings’ are the sole subjects of the substantive law relating to agreements and the abuse of dominant positions. This is the word used in the Treaty on the Functioning of the European Union (TFEU) and in EU secondary legislation, and has been adopted in the UK Competition Act 1998 (CA). Market integration has been highly influential in the shaping of EU competition policy. UK competition laws are not governed by similar concerns. The role of the European Commission in competition law is fundamental, and the European Courts have contributed to clarifying the interpretation of competition law provisions. In the United Kingdom, the Competition and Markets Authority (and the sectoral regulators) and the Competition Appeals Tribunal are the principal enforcers.

scholarly journals Kolizyjnoprawna problematyka skuteczności przelewu wierzytelności wobec osób trzecich Glosa do wyroku Trybunału Sprawiedliwości Unii Europejskiej z dnia 9 października 2019 r. w sprawie BGL BNP Paribas SA c/a TeamBank AG Nürnberg (C‑548/18)

2020 ◽  
Vol 26 ◽  
pp. 223-236
Author(s):  
Witold Kurowski
Keyword(s):  
European Union ◽  
Third Party ◽  
The European Union ◽  
Conflict Of Laws ◽  
The Third ◽  
Common Opinion ◽  
The Law ◽  
The Third Party ◽  
Rome I ◽  
The Eu

The question of the law applicable to the third-party effects of assignments of claims is widely discussed in the doctrinal debates. In common opinion, the existing European conflict-of-laws regulations do not provide for a rule governing this issue. In the case BGL BNP Paribas SA v. TeamBank AG Nürnberg (C‑548/18), the Court of Justice of the European Union confirmed this gape of the Rome I Regulation.The gloss presents the justification of the European Union Court’s judgment, the reasons for the lack of the uniform conflict-of-laws regulation, and the consequences of this state. It also analyses briefly the European Commission’s proposal for the EU Regulation concerning the law applicable to the third-party effects of assignments of claims (COM(2018) 96 final), as a response to this situation. Finally, it examines the appropriate conflict-of-laws rules for proprietary effects of assignments of claims (the law of the assignor’s habitual residence and the law of the assigned claim).

scholarly journals GIBRALTAR AND BREXIT

2020 ◽  
Vol 4 (4) ◽  
pp. 445-454
Author(s):  
V.V. Pushkareva
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Transition Period ◽  
Political Agenda ◽  
Customs Union ◽  
The European Union ◽  
Territorial Dispute ◽  
The United Kingdom ◽  
The Uk ◽  
The Eu

The withdrawal of the United Kingdom from the European Union with its overseas possessions returned to the political agenda the territorial dispute between Madrid and London over the Gibraltar semi-enclave. The opposite points of view have collided in the context of Brexit: the UK fundamentally defends its sovereignty over Gibraltar, Spain strives to regain the lost territory, the Gibraltarians want to maintain association with the Kingdom and not break with the European Union, the European Union is not eager to grant Gibraltar a special status, but at the same time is interested in maintaining a preferential financial zone in the South of the Iberian Peninsula. Separate issues of relations between the UK and Spain on the situation of Gibraltar for the transition period were agreed, they are set out in the “4 Memoranda”. The further fate of the territory depends on the UK's deal with the EU. The contracting parties guarantee that the interests of both Spain and Gibraltar are taken into account. Possible options: holding a referendum on the independence of Gibraltar; gaining control of Spain over the strategic objects of Gibraltar as a result of the deal; Gibraltar remains under the sovereignty of the United Kingdom and continues to cooperate with the EU; dual Spanish-British sovereignty will be established over Gibraltar; at the end of Brexit Gibraltar will not cooperate with the EU. But each of the proposed solutions requires certain concessions from the disputing parties. They are not ready to compromise yet. The authorities of Gibraltar, however, are aware that without cooperation with the UK, Spain and the European Union, their further successful state and development is impossible. More favorable conditions, in our opinion, for the Gibraltarians will arise with the accession to the Schengen area and the Customs Union.

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