A regulation of the conflict of laws in receivables financing in Europe still remains incomplete. Unlike the uniform secured transactions statutes in Canadian provinces and the United States, the European Contracts Convention lacks a comprehensive evaluation of interests that would clarify the law applicable to competing creditors. Notwithstanding, courts do not seem prepared to reconsider whether the Convention could ever cover charges on claims. Instead of taking on a homogeneous interpretation they seem to neglect fundamentally diverging views on proprietary aspects of claims in the substantive law of Contracting States, and continue to uphold traditional national concepts. Consequently, the need for the enactment of harmonized and straightforward European law cannot be denied.
European Review of Private Law