ELSA DELEGATION REPORT

Transcription

1 ELSA DELEGATION REPORT The 23 rd session of the Working Group VI, Security Interest New York, USA, 8th 12th April 201 The views and opinions expressed in this report are the sole responsibility of the authors. The report is not intended to reflect views of ELSA.

2 I. INTRODUCTION The United Nations Commission on International Trade Law (UNCITRAL) is the core legal body of the United Nations system in the field of international trade law and was established by the United Nations General Assembly by resolution 2205 (XXI) of 17 December It has mandate to the progressive harmonization and modernization of the law of international trade by preparing and promoting the use and adoption of legislative and non-legislative instruments in a number of key areas of commercial law. Those areas include dispute resolution, international contract practices, transport, insolvency, electronic commerce, international payments, secured transactions, procurement and sale of goods. 2 The Working Group VI on Security Interests was constituted by Commission in order to developing an efficient legal regime for security interests in goods involved in a commercial activity. 3 The Working Group VI is consisted of representatives of member or other states and international organizations, both governmental or non-governmental, participated in the field of preparatory work A Guide to UNCITRAL, p. 3 3 Official Records of the General Assembly, Fifty-fifth Session, Supplement No. 17 (A/55/17), paras. 459 and UNCITRAL Legislative Guide on Secured Transactions, p. 3 1

3 The Working Group VI works in harness with Working Group V (Insolvency) and also collaborates with international entities such as Bureau of the Hague Conference on Private International Law and the International Institute on Private International Law. 5 II.ELSA DELEGATION The European Law Student s Association (ELSA) was represented during the 23rd session of the Working Group VI, Security Interest, taking place in New York, USA, between the 8 th 12 th April 2013, by: Mr František Vinopal (Head of Delegation), ELSA Czech Republic, Ms Laura Matukaityte, ELSA Lithuania, Mr Tommy Olayemi, ELSA United Kingdom, Ms Valerie Wagner, ELSA Germany. III. PARTICIPANTS AND OFFICERS The session was attended by delegates of the following member states: Austria, Belarus, Benin, Brazil, Canada, Chile, China, Colombia, El Salvador, France, Germany, India, Italy, Japan, Kenya, Mexico, Nigeria, Paraguay, Philippines, Poland, Republic of Korea, Russian Federation, Thailand, Turkey, Ukraine and United States of America. The session was also attended by observers from Angola, Burkina Faso, Croatia, Guatemala, Indonesia, Kuwait, Qatar, Switzerland and Holy See as well. 5 Ibid., pp

4 Beside the ELSA delegation, the session was attended by observers from the American Bar Association (ABA), the Commercial Finance Association (CFA), the Inter-American Bar Association (IABA), the Inter-Pacific Bar Association (IPBA), the International Insolvency Institute (III), the Moot Alumni Association (MAA), the National Law Centre for Inter-American Free Trade (NLCIFT), the New York City Bar (NYCBAR), the Organization of American States (OAS), the Union Internationale des Huissiers de Justice et Officiers Judiciaires (UIHJ) and the World Bank (WB). As the officers of the Working Group VI were elected: Mr Rodrigo Labardini Flores (Chairman), Mexico, Mr Madhukar R. Umarji (Rapporteur), India. IV. AGENDA The agenda of the Working Group VI was primarily dedicated to the issue of the Registration of security rights in movable assets and Model law on secured transactions. 6 V. REGISTRATION OF SECURITY RIGHTS IN MOVABLE ASSETS At its forty-fifth session, the Commission had asked the Working Group VI to progress with its work fast and to finalize it so that the draft Registry Guide would be submitted to the Commission for adoption at its forty-sixth session in The Working Group adopted the following agenda: Opening of the session and scheduling of meetings; Election of officers; Adoption of the agenda; Registration of security rights in movable assets; Model law on secured transactions; Other business; Adoption of the report. 7 A/CN.9/767, para. 7 3

5 At its twenty-second session, the Working Group VI adopted the substance of the draft Registry Guide and demanded the Secretariat to prepare a reconsidered version of the text reflecting the deliberations and decisions of the Working Group.8 The Working Group VI primarily dealt with the issue of terminology, interpretation or application purity and diverse technical issues. Anteriorly, the Working Group VI has presented registration as a method of achieving third-party effectiveness or, at least, as a method of establishing priority.9 With respect to the terminology and interpretation, the explanation of the meaning of some terms (e.g. amendment, cancellation, registrant, registration, secured creditor) was clarified. 10 It was also agreed that security right should be qualified as a limited property right and registration in a specialized registry would be an alternative method of third-party effectiveness only if intellectual property law did not provide otherwise. 11 The Working Group VI deemed necessary to clarify that the registrar could be either a legal person or a natural person. 12 It was also discussed within the field of access to registry services, registration, initial notices, amendments and cancellation notices, search criteria, search results and fees. 13 In addition, the draft Registry Guide shall provide examples of registry form in an annex Ibid., para A/CN.9/WG.VI/WP.54, para A/CN.9/WG.VI/WP.54/Add.1, paras and A/CN.9/764, paras A/CN.9/764, paras A/CN.9/WG.VI/WP.54/Add.1, paras See A/CN.9/WG.VI/WP.54/Add.1-4 In: A /CN.9/764, paras See A/CN.9/WG.VI/WP.54/Add.5-6 4

6 VI. DRAFT MODEL LAW ON SECURED TRANSACTIONS After completion of the draft Registry Guide, the exchange of view with respect to the draft Model Law on Secured Transaction has occurred. Working Group undertook to the preparation of a simple, short and concise model law on secured transactions based on the general recommendations of the Secured Transactions Guide. 15 It has been recognized various approaches to the Commission s mandate for the draft of Model Law. In general, first one has consisted on the basis of the economic value of having the draft Model Law cover a transaction. 16 On the other hand, second one recognized that brief and compact model law on secured transaction could be more useful addition and effective tool for states to promote implementation of the Security Transaction Guide. VII. SUMMARY AND CONCLUSION Working Group VI proceeded its work on the finalization of a text on the registration of security rights in movable assets, under a decision taken by the Commission at its fortythird session. 17 The Commission s decision was based on its comprehension that such subject matter would usefully complement the Commission s work on secured transactions and give needed guidance to states Official Records of the General Assembly, Sixty-sixth Session, Supplement No. 17 (A/66/17), para Report of Working Group VI (Security Interests) on the work of its twenty-third session, A /CN.9/764, para See Official Records of the General Assembly, Sixty-fifth Session, Supplement No. 17 (A/65/17), para Ibid., para

7 Consequently to the above the Working Group VI was mainly focused on the clear wording, interpretative ambiguities, pure terminological and logical consequences or structures. The Working Group VI devoted appreciable time to several articles (draft Registry Guide) during first days which caused lack of time for rest (draft Model Law). The Working Group VI decided that the title of the draft Registry Guide should be UNCITRAL Guide on the Implementation of a Security Rights Registry. 19 It was agreed that that title was appropriate, mainly as it indicated the contents of the draft Registry Guide but also its relationship to the Secured Transactions Guide. 20 Generally speaking, the draft Model Law was presented as assistance to states in addressing issues concerning access to credit for small and medium enterprises. In addition, it was pointed out that such draft should complement, not a replace the Secured Transaction Guide. The Working Group VI conceded the draft Registry Guide to the Commission for adoption at its upcoming forty-sixth session 21 and then considered a note entitled Draft Model Law on Secured Transactions. 19 A /CN.9/764, para Ibid. 21 See A/CN.9/WG.VI/WP.54 and Add.1-6 In: A /CN.9/764, para. 15 6

8 VIII. TIPS AND HINTS You should book your flight tickets as soon as you have been appointed as delegate. If you do so, you will take an advantage of the preferable prices. Ticket prices rise rapidly, so do not hesitate! The New York City is very expensive place to live. Thus, it is strictly recommended to arrange your accommodation in considerable advance. If you start looking for your apartment late, then it is almost impossible to find reasonable place to stay. The YMCA Vanderbilt (224 East 47th), Wanderer s Inn (179 East 94th) or Manhattan Inn (632 Manhattan Avenue) seem to be good and recommended place to stay. In case that you are late and all favourable hostels are booked, you can try to find some accommodation through airbnb.com. The best way how to get around the New York City is to take the Subway. It is 24/7 service, so that is available regardless of time or day. The cost of a SingleRide ticket is 2.75 US, 7- Day Unlimited costs 30 US. When you arriving to the UN, first of all, you have to visit the Identification Office to get their identification pass. The Identification Office is situated across the street from the visitors entrance (44th Street / 1st Avenue). It opens at 9am, but it is recommended to be there in advance. ELSA delegates have to use the visitors entrance, not the gate allocated for representatives of member states. 7

9 The vast majority of sessions of the Working Groups take a place in conference rooms situated in the first level of the United Nations Complex. There are information boards which will provide you useful information about side-events. There is also free WIFI throughout the whole complex, so you can bring your laptop or tablet. If you are looking for some form of refreshment within the United Nations Complex, you should have a lunch in the UN Cafeteria or have a cup of coffee in the UN Delegates Lounge. During the session, informal meetings are usually held. Especially in time of coffee breaks, lunches or receptions, delegates have got an opportunity to arrangement some meetings and establish initial contacts. Do not forget your business cards and other marketing material! 8

10 IX. FINAL REMARKS Mr Tommy Olayemi was invited and participated in side-meetings of Nigeria delegation concerning security interest. All members of ELSA Delegation were invited to the informal reception and dinner hosted by Commercial Finance Association. All members of ELSA Delegation appreciate to be part of international community. For all of us it was a great and unforgettable experience. We wish to thank you ELSA International for the unique opportunity attending this session. If you have any comments or questions, please do not hesitate to contact us.. F. Vinopal T. Olayemi L. Matukaityte V. Wagner 9