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5 ECFR 113 (2008)
Attachment/Creation of a Security Interest

handle is hein.journals/ecomflr5 and id is 625 raw text is: 




Attachment/Creation of a Security Interest


                                    by

                            ANNA VENEZIANO*


                            Table of Contents


  I. Introduction: the Draft UNCITRAL Legislative Guide on Secured
     Transactions ......    ................................ 113
  II. Brief outline of the rules on the creation of a security right in the
     UNCITRAL Legislative Guide ....       ..................... 114
 III. The basic general assumptions on which such rules are based and their
     compatibility with existing European secured transactions regimes . 116
     1. Effectiveness between debtor and creditor and effectiveness as
       against third parties ...... .......................... 117
     2. The influence of a notice filing system on the rules on the crea-
       tion of a security right ..... ......................... 122
     3. The rules applicable to the creation of an acquisition security right  126
 IV. By way of conclusion: some remarks on possible future uniform
     European rules on the creation of a security right ............. 127


     I. Introduction: the Draft UNCITRAL Legislative Guide on Secured
     Transactions as a model for a future European Secured Transactions law?

   The present paper deals with the steps required to constitute a security
right effective as a minimum between the parties. The double title hints at an issue
of semantics. In fact, creation and attachment are among the terms used in
different legal systems to refer to these steps, though, as we will shortly see, they
are not wholly interchangeable. Recent international instruments have opted for
.creation' as a suitably general category' (with some doubts relating to its appli-


  The Author (LL.M. Yale) is Professor of Comparative Law at the University of
  Teramo (Italy).
I See among others: 2002 Model Inter-American Law on Secured Transaction drafted by
  the Organization of American States (OAS), Title II, Creation, Art. 5 et seq; Asian
  Development Bank (ADB), 'Secured Transactions', Law and Policy Reform at the
  ADB, Vol. 11 (2000), at 2, 16 and 21 et seq.

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