Gerard McCormack and Reinhard Bork (eds), Security Rights and the European Insolvency Regulation
| Pages | 166-169 |
| DOI | 10.3366/elr.2020.0621 |
| Published date | 01 January 2020 |
| Date | 01 January 2020 |
| Author |
The prospect of greater harmonisation of the laws of security rights in the UK (including those of Scotland as well as England) with other EU member states seems a forlorn hope at present. Indeed, Gerard McCormack and Reinhard Bork, the editors of
The book is split into two main parts. The first part is “Comparative Analysis” focused on security rights and transactional avoidance in relation to the Regulation (original and recast), and synthesis of material on security rights and transactional avoidance issues in the context of national laws, utilising national reports that comprise the second part. Those reports respond to a questionnaire featuring twenty-eight questions covering such matters as the creation, enforcement and registration of security rights, quasi-securities, and transactional avoidance. The national reports are grouped according to legal families: the Germanic legal system in chapter five (especially Germany but also Austria); the Common Law system in chapter six (primarily England but with references to the Republic of Ireland); the Roman legal system in chapter seven (Spain, Italy and France); and the Central and Eastern European systems in chapter eight (Hungary, Poland and Lithuania, but with mention of other jurisdictions such as Croatia and Romania). While organising the reports in this way certainly assists, it would have been useful to have more explanation as to why particular countries (and not others) were chosen.
With reference to the first part of the book, Article 8 of the recast Regulation (previously Article 5) states that the opening of insolvency proceedings shall not affect security rights (referred to as “rights
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