Emerging Financial Markets and Secured Transactions

This work brings together a collection of papers dealing with various aspects of crossborder secured transactions, an issue which is becoming increasingly important to the process of the development of emerging financial markets and transitional market economies. As most medium and long term loans are no longer secured by sovereign or governmental guarantees, lenders need to find security elsewhere. A sound legal framework for lenders to effect and enforce secured transactions is called for in order to establish an investor friendly climate. Special attention is paid to the EBRD Model Law on Secured Transactions, the (UNCITRAL) Draft Convention on Assignment in Receivables Financing and the pending International Institute for the Unification of Private Law (UNIDROIT) model. The editors have provided an invaluable service in bringing together these texts which make a significant contribution to the development of scholarship in this area and which emphasise the importance to the development and transition process of the development of a modern framework for secured transactions.