Book Review: Security Rights in Movable Property in European Private Law (The Common Core of European Private Law)
| Author | Monika Hinteregger |
| DOI | 10.1177/1023263X0901600206 |
| Published date | 01 June 2009 |
| Date | 01 June 2009 |
16 MJ 2 (2009) 239
BOOK REVIEWS
Eva-Maria Kieninger (ed.) with the a ssistance of Michele Graziadei, George L. Gre tton,
Cornelius G. van der Merwe and Matthias E. Storme, Security Rights in Movable
Property in European Private Law ( e Common Core of European Private Law),
Cambridge University Press 20 04, 828 pages, paperback, £40, ISBN 978- 0-521-83967-9
§1. I NTRODUCTION
During the last t wo decades, due to the rapid increase of cross border trade and fur ther
stimulated by the new rules on the capital requirements of credit institutions and
investment rms provided by Basel II1, the law of security interests has been receiving
widespread attention by lawmakers both on an i nternational and national level. In 2001,
the UNCITRAL (United Nations Commission on International Trade Law) adopted
the United Nations Convention on the Assignment of Receivables in International Trade
and has recently published a Legislative Guide on Secured Transactions2, which is of
high interest for reform projects in this eld. On 1 April 2004, the Unidroit Cape Town
Convention on International Interests in Mobile Equipment (2 001)3 entered into force,
which covers international interests in airplanes, helicopters, railway rolling stock and
space assets. In 1994, t he European Bank for Reconstruction and Development issued a
Model Law on Secured Transactions, which has been serv ing as a basis for the reform of the
legal framework for secu red transactions in the C entral and Eastern Europea n countries
during the last decades.4 A very noteworthy national e ort in this regard was recently
1 Directive 20 06/48/EC of the European Parlia ment and of the Council of 14 June 2006 relati ng to the
taking up a nd pursuit of the business of c redit institutions , OJ L 177, 30 Ju ne 2006 p.1 – 200; Directive
2006/49/EC of the Europe an Parliament and of the Cou ncil of 14 June 2006 on the capital ad equacy of
investment rms and credit ins titutions, OJ L 177, 30.6.2006 , p. 201–255.
2 See homepage of the U NCITRAL . For the nal text see O cial Re cords of the General A ssembly, Sixty-
Second Session, Supplement No. 17.
3 Supplemented by the Protocol to t he Convention on International Interest s in Mobile Equipment on
Matters speci c to Ai rcra E quipment 2001 (in force since 1 April 2 004) and the Luxembou rg Protocol
on the Convention on International Interest s in Mobile Equipment on Matters Speci c to Rai lway
Rolling Stock 2 007, not yet in force.
4 For a recent comprehensive ana lysis see Röver Jan-Hendrik, Secured lending in Eastern Europe.
Comparative L aw of Secured Transaction s and the EBRD Model Law (Oxford 2 007).
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