Assignment of receivables under the Rome I Regulation Cover Image

Przelew wierzystelności w świetle rozporządzenia Rzym I
Assignment of receivables under the Rome I Regulation

Author(s): Arkadiusz Wowerka
Subject(s): Law, Constitution, Jurisprudence
Published by: Wydawnictwo Uniwersytetu Śląskiego
Keywords: Rome I Reg.; Article 14; the conflict-of-law rules on the assignment of receivables; assignment of the receivables; contractual transfer of claims; transfer of accessory guarantees; law applicable to the effectiveness of an assignment against 3 parties

Summary/Abstract: The Rome I Regulation lays dawn in Article 14 some clarifications which were not included in the 1980 Rome Convention. To avoid problems of characterisation Article 14 expressly clarifies its application to voluntary assignment and contractual subrogation. Furthermore, the concept of assignment in this Article includes not only outright transfers of claims, but also transfers of claims by way of security and pledges or other security rights over claims. Therefore, it is applicable to assignments by way of collateral as well. The concept of relationship between assignor and assignee should in principle include not only the rights and obligations arising from the contract which function as a title of the assignment but also the dead of the assignment (transfer the rights over the claim itself). To such effect, the applicable law chosen by the parties to their contractual obligations will also govern the validity and the effectiveness of the transfer of assignments in relation between them. Furthermore, Article 14 confirms the common principle of the protection of the legitimate interests of the debtor. According to this an assignment can be only invoked against the debtor under the condition of law applicable to his obligations. However, many questions seem to be not absolutely clear under the text of the Article 14. What is more, it does not contain a clear conflict-of-law-rule dealing with the effectiveness of an assignment against third parties. Under many possible solutions in this matter the law-of-the-assignee-residence approach seems to be the appropriate and adequate way of ensuring the legal certainty for all the interested parties.

  • Issue Year: 2011
  • Issue No: 9
  • Page Range: 36-61
  • Page Count: 27
  • Language: Polish