Publisher's Synopsis
'This is a very timely book that addresses an important subject, namely, attempts to harmonise the law governing secured transactions. The focus is on UNCITRAL and its Legislative Guide on Secured Transactions. Professor McCormack has written a provocative book that challenges existing orthodoxy. It is a stimulus for critical thinking and is essential reading for those interested in the subject. It also provides an informed account of the workings of UNCITRAL, contains much valuable material on harmonisation and uniformity, and displays a thorough grounding in the theoretical literature.'
-Michael Bridge, London School of Economics, UK
'Professor McCormack has taken the challenge to write a truly original book about secured transactions, which is rather good news when so many publications seem to rehash the same ideas. He is not afraid to tackle questions usually ignored by lawyers, such as the political aspects of harmonisation of law. This should challenge all involved to seriously re-examine the premises on the basis of which they work.'
- Frederique Dahan, European Bank for Reconstruction and Development
This is a discerning analysis of international harmonization efforts for secured credit law and examines the role of globalization and finance capital in shaping such efforts.
Gerard McCormack reveals how an 'efficient' law is often seen to increase the availability, and lower the cost, of credit, thereby contributing to international development. He considers whether the most comprehensive international standard the United Nations Commission on International Trade Law (UNCITRAL) Legislative Guide (2008) is actually suitable for adoption at the national level. In particular, he examines the hypothesis that American law and lawyers have shaped the content of the guide to the extent that it is not suitable for translation into other laws.
This book will be of great interest to practitioners, policy makers and academics, as well as students, particularly postgraduate students, of law and business throughout the world.
Contents:
Preface
1. Introduction
2. The Case for Harmonising and Modernising the Law of International Trade
3. Harmonising and Modernising Secured Transactions Law
4. National Models and Replication Across International Frontiers Article 9 of the American Uniform Commercial Law and the English Common Law
5. International Harmonisation Efforts Before the UNCITRAL Legislative Guide
6. The UNCITRAL Secured Transactions Guide
7. The Insolvency Legislative Guide
8. Conclusion
Index
