Articles by author
The United Nations Convention on the Assignment of Receivables in International Trade: failure or success?
Twenty years after its adoption in 2001 by the United Nations General Assembly, the United Nations Convention on the Assignment of Receivables in International Trade (Convention)1 has yet to enter into force.2 Despite this, however, the Convention has influenced the development of national assignment of receivables law, as well as uniform law, and our better understanding and knowledge of assignment of receivables law. And recent developments suggest that it may still turn out to be a success. This article discusses the reasons for the failure of the Convention and its impact so far and examines its future prospects.3
1 JUN 2021Secured finance law reform: the Joint Coordination Network
In December 2021, the United Nations Commission on International Trade Law (UNCITRAL), the international Institute on the Unification of Private Law (Unidroit), the International Finance Corporation (IFC), the Organisation of American States (OAS) and a few other governmental and non-governmental organisations launched a Joint Network for Coordinating and Supporting Secured Transactions Reforms (Network). The main objective of the Network is to coordinate the activities of participating organisations in providing technical assistance and capacity building to States and organisations in secured transactions and related reforms. The Network also seeks to facilitate the modernisation and enhancement of secured transactions frameworks, particularly through the adoption and implementation of international standards in this area.1 The Network is the result of four coordination conferences jointly organised and held by the members of the Network in recent years.
1 MAR 2022Security interests in insolvency: UNCITRAL instruments and Greek law compared
This article compares the treatment of security interests in insolvency under the UNCITRAL Legislative Guide on Insolvency Law (Insolvency Guide or IG) and the UNCITRAL Legislative Guide on Secured Transactions (Secured Transactions Guide or STG) with the treatment of security interests in insolvency under Greek insolvency law. It briefly discusses the key objectives of these regimes, the insolvency estate and the impact of stays on individual actions, the effectiveness and priority of security interests, the use and sale of encumbered assets, the treatment of contracts, and the treatment of security interests in reorganisation and post-commencement finance. As an introductory remark, Greek insolvency law was recently reformed, although it retained much of the previous law. Its basis nowadays is Law 4738/2020 (Insolvency Code or IC), which regulates three (insolvency and pre-insolvency) procedures: These are: (i) the liquidation of the debtor’s estate and distribution of the proceeds to creditors; (ii) restructuring, which may bind all creditors by means of judicial confirmation of the restructuring agreement; and (iii) out-of-court workout, which applies to public law and financial creditors only, and is not court-supervised, given the apparent lack of need for protection of these powerful creditors.1
1 APR 2023
