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Property in Securities
A Comparative Study

$83.00 ( ) USD

Part of Cambridge Studies in Corporate Law

  • Author: Eva Micheler, London School of Economics and Political Science and Wirtschaftsuniversität Wien, Austria
  • Date Published: September 2007
  • availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
  • format: Adobe eBook Reader
  • isbn: 9780511286995

$ 83.00 USD ( )
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About the Authors
  • Micheler analyses the German, Austrian and English law of securities, addressing the rules governing transfers of securities, including unauthorised transfers, equities arising out of defective issues, and the holding of securities through intermediaries. The book presents an account of the current English, German and Austrian regimes. It has been written with a view to explaining the German and Austrian regime to readers with a common law background and to explaining the English regime to readers with a civil law background. Micheler also aims to determine whether globalisation will cause the two different approaches to converge. It concludes that the respective rules in all three jurisdictions have historically evolved consistently with incumbent legal doctrine. This pattern of change is likely to continue. Convergence will occur on a functional rather than doctrinal level. Moreover, recent reform initiatives advanced by the UNIDROIT and the EU will lead to functional rather than doctrinal convergence.

    • Contains an analysis of the civil and the common law approach to property in securities
    • Analyses the prospect for law reform at a European or global level
    • Contributes to the discussion as to whether legal systems are converging or developing in a path dependent manner
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    Product details

    • Date Published: September 2007
    • format: Adobe eBook Reader
    • isbn: 9780511286995
    • availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
  • Table of Contents

    Part I. Introduction:
    1. Convergence and Path-Dependence
    Part II. English Law:
    2. Paper Transfers
    3. Dematerialisation
    4. Impact on the institutional framework
    5. Defective issues
    6. Unauthorised transfers
    7. Indirect holdings
    8. Conclusions
    Part III. German and Austrian Law:
    9. Historic starting point
    10. Paper transfers
    11. Impact on the institutional framework
    12. Immobilisation and its legal analysis
    13. Evidence of convergence?
    14. Conclusions
    Part IV. Conclusions:
    15. Legal development as a path dependent process
    16. Legal doctrine and market infrastructure
    17. Implications for convergence.

  • Author

    Eva Micheler, London School of Economics and Political Science and Wirtschaftsuniversität Wien, Austria
    Senior Lecturer at the London School of Economics and a Universitätsprofessor at the University of Economics in Vienna.

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