In the last few years, the cryptocurrency bitcoin has repeatedly made worldwide headlines with its fluctuations in value and the uncertainty regarding the legal framework under which it operates. While bitcoin has swiftly become the foremost example of a virtual currency, it is by no means the only one. In-game currencies and currencies used as part of a loyalty scheme are examples as of other forms of virtual currencies. Moreover, new forms of virtual currency used mainly for investment purposes - derived from cryptocurrencies such as bitcoin - are rapidly gaining hold. This book focuses on the legal aspects of virtual currencies from the perspective of financial and economic law. It establishes a typology of virtual currencies and assesses whether they can be considered as money. The author analyzes whether the EU legal frameworks on electronic money, payment services, anti-money laundering, and markets in financial instruments can be applied to virtual currencies. A functional comparison is made to the US, where more regulatory initiative has been identified. The book concludes by answering the question of whether - and how - virtual currencies should be regulated within the EU.

This book presents a framework to reconceptualize internet governance and better manage cyber attacks. It examines the potential of polycentric regulation to increase accountability through bottom-up action. It also provides a synthesis of the current state of cybersecurity research, bringing features of cyber attacks to light and comparing and contrasting the threat to all relevant stakeholders. Throughout the book, cybersecurity is treated holistically, covering issues in law, science, economics and politics. This interdisciplinary approach is an exemplar of how strategies from different disciplines as well as the private and public sectors may cross-pollinate to enhance cybersecurity. Case studies and examples illustrate what is at stake and identify best practices. The book discusses technical issues of Internet governance and cybersecurity while presenting the material in an informal, straightforward manner. The book is designed to inform readers about the interplay of Internet governance and cybersecurity and the potential of polycentric regulation to help foster cyber peace.

This book provides a unique comparative and global analysis of the regulation of disclosure in financial (securities) markets. It is written by two authors who represent both the new world (Australia) and the old world (Germany). The authors present their research in the global business context, with legal and regulatory perspectives including some references from Africa, Asia, the Middle East and South America. After every "boom" and "bust", legislators pass new disclosure legislation, often in a heated environment fuelled by politics and the media. Little regard is paid to existing regulation or the lessons learned from earlier regulation. The result is the continuing enactment of redundant and overlapping disclosure laws. Since financial markets are often described as markets for information, the failure to ensure disclosure is at the heart of financial services regulation. This book argues that the solution to the failure of disclosure is a brief, easily understood, principles-based, plain English safety-net amendment to statute law such as "you must keep the financial market fully informed", a measure that would support effective mandatory continuous disclosure of information to financial markets. This book examines the reasons for disclosure regulation, and how the efficient operation of financial markets is dependent on disclosure. It examines the adequacy of common law and civil law concerning broker/client disclosure, and concludes that industry licensing in itself fails to keep the market informed. While recognizing the failures of securities commissions to achieve good disclosure in financial markets, it confirms the effectiveness of coregulation of disclosure by a commission with the support of the financial markets (such as the stock exchange). Coregulation builds on financial market self-regulation, and is best described in the words of one-time SEC Chairman William O. Douglas, who, in the 1930s, described it as a shotgun behind the door.

This book is the leading reference on Indonesian private international law in English. The chapters systematically cover the whole of Indonesian private international law including commercial matters, family law, succession, cross-border insolvency, intellectual property, competition (antitrust), and environmental disputes. The chapters do not merely cover the traditional conflict of law areas of jurisdiction, applicable law (choice of law), and enforcement. The chapters also look into conflict of law questions arising in arbitration and assess Indonesian involvement in the harmonisation of private international law globally and regionally within ASEAN. Similarly to the other volumes in the Studies in Private International Law - Asia series, this book presents the Indonesian conflict of laws through a combination of common and civil law analytical techniques and perspectives, providing readers worldwide with a more profound and comprehensive understanding of the subject.

Intellectual property is a vital part of the global economy, accounting for about half of the GDP in countries like the United States. Innovation, competition, economic growth and jobs can all be helped or hurt by different approaches to this key asset class, where seemingly slight changes in the rules of the game can have remarkable impact. This book brings together diverse perspectives from the fields of law, economics, business and political science to explore the ways varying approaches to intellectual property can positively and negatively impact our economy and society. Employing approaches that are both theoretically rigorous and grounded in the real world, Perspectives on Commercializing Innovation is well suited for practising lawyers, managers, lawmakers and analysts, as well as academics conducting research or teaching in a range of courses in law schools, business schools and economics departments, at either the undergraduate or graduate level.

For over 40 years Professor Sir Roy Goode QC has been involved in the preparation of international instruments, working with the International Institute for the Unification of Private Law, the Hague Conference of Private International Law and the International Chamber of Commerce. The essays selected for this volume, written over the course of Sir Roy's career, offer a unique insight into the development of transnational commercial law, combining close theoretical study with an understanding of the practical relevance and application of the principles under discussion. Encompassing a range of topics, such as the processes and products of international harmonisation, comparative law and the conflict of laws, and placing a particular emphasis on the policies and problems of harmonisation, these essays were ground-breaking at the time of their publication and are still widely referenced to this day. Authorial commentary on the essays, provided through introductions to each section of the book, helps the reader to trace how the law has developed since, and often as a result of, the publication of each paper.

Key Facts has been specifically written for students studying Law. It is the essential revision tool for a broad range of law courses from A Level to degree level. Consumer Law is also relevant to courses for Trading Standards Officers and many Business Studies courses.The series is written and edited by an expert team of authors whose experience means they know exactly what is required in a revision aid. They include examiners, barristers and lecturers who have brought their expertise and knowledge to the series to make it user-friendly and accessible.Chapters include: The character of consumer contracts / Consumer protection in contract law / Contracts for sale of goods / Unsolicited goods / Distance selling / Contracts to provide services / Protection under the law of tort / Exemption clauses and unfair terms in consumer contracts / The Consumer Protection Act 1987 / Criminal Law as a means of consumer protection / Consumer finance / Trade Descriptions Act 1968 / Misleading proce indications / Regulating advertising / Insurance / Holidays / Food.

This comparison of EU and WTO approaches to common trade-liberalisation challenges brings together eighteen authors from Europe and America. Together they explore fundamental legal issues, such as the role of general principles of law, the role of the judiciary in the development of law, the effect of the principle of non-discrimination and the elimination of non-discriminatory barriers to trade. The contributions also examine the most recent developments in trade law across a full range of trade issues, including TBT and SPS, services, intellectual property, customs rules, safeguards, anti-dumping and government procurement. Adopting a comparative perspective throughout, this volume sheds light on today's trade law and suggests paths forward for each system through the perennial tensions between open, non-discriminatory trade and strongly held national values and objectives.

South African shipping law is a rich amalgam of English common law and Roman-Dutch civilian principles. Its provenance was profoundly influenced first by Dutch dominance over the seas and world trade during the 17th and 18th centuries, and then by the might of the English commercial empire of the 19th and 20th centuries.

Today's South African shipping lawyer continues to draw on both systems, supplemented by innovative developments, especially in admiralty practice.

The second edition of Shipping Law & Admiralty Jurisdiction in South Africa follows ten years after its first publication. The book aims to cover all aspects of admiralty jurisdiction and practice, and general shipping law, in one volume.

This book is the first to examine intermediaries in a holistic and systematic manner. The classical model of face-to-face contracting between two individuals is no longer dominant. Instead, deals frequently involve a number of parties, often acting through intermediaries. As a result, it is important to understand the role and power of intermediaries. Intermediaries tend to be considered within discrete silos of the law. But by focussing upon a particular, narrow area of law, lessons are not learned from analogous situations. This book takes a broader approach, and looks across the traditional boundaries of private law in order to gain a proper assessment of the role played by intermediaries. A wide range of jurisdictions and topical issues are discussed in order to illuminate the role intermediaries play in commercial law. For example, the continued growth of electronic commerce requires consideration of the role of websites and other platforms as intermediaries. And developments in artificial intelligence raise the prospect of intermediaries being non-human actors. All these issues are subject to rigorous analysis by the expert contributors to this book.

The development of civil aviation in the early 20th century presented a range of new legal and regulatory challenges concerning the rights of an aircraft from one state to enter the aerial territory of another. International flights threatened the territorial integrity of nation states and prompted politicians to draw up new aerial legislation and regulations to govern this new form of aerial movement. Whereas some states advocated free and open access to airspace and unrestricted aerial movement, other nations pursued a more protectionist stance based on regulation and reciprocal access arrangements. Technological developments in aircraft design and performance, combined with changing global political relations and the introduction of new forms of economic regulation have all fundamentally affected the development of air transport. This Volume explores carefully selected aspects of aviation law and regulation and examines the implications of changing regulatory intervention on the form and function of civil aviation worldwide.

This book presents a novel framework to reconceptualize Internet governance and better manage cyber attacks. Specifically, it makes an original contribution by examining the potential of polycentric regulation to increase accountability through bottom-up action. It also provides a synthesis of the current state of cybersecurity research, bringing features of the cloak and dagger world of cyber attacks to light and comparing and contrasting the cyber threat to all relevant stakeholders. Throughout the book, cybersecurity is treated holistically, covering outstanding issues in law, science, economics, and politics. This interdisciplinary approach is an exemplar of how strategies from different disciplines as well as the private and public sectors may cross-pollinate to enhance cybersecurity. Case studies and examples illustrate what is at stake and identify best practices. The book discusses technical issues of Internet governance and cybersecurity while presenting the material in an informal, straightforward manner. The book is designed to inform readers about the interplay of Internet governance and cybersecurity and the potential of polycentric regulation to help foster cyber peace.

Under the current multilateral trading system, most business entities have turned their attention away from focusing exclusively on their domestic market to the management of international business transactions on the global market. Around the world, this trend has increased the demand for education and training on the principles of international trade and, more practically, the administration of international business transactions. This book aims to give upper-level undergraduates and graduate students a comprehensive understanding of the administrative and practical aspects of international commerce. It seeks to provide students, as the potential future practitioners of international trade, with the ability to gather and administrate the information needed to decide on and manage complex international business transactions, including in- and outsourcing problems, exports and imports.

In the light of the financial crisis, it has become clear that the globalisation of financial markets has not been matched by the globalisation of legal certainty relating to financial transactions. The ability to give security influences not only the cost of credit but also, in some cases, whether credit will be available at all. Increasing the availability and lowering the cost of credit can make an important contribution to international and domestic economic development. Assessing the international challenges posed by inefficient secured credit laws, this book explores how these can be overcome to facilitate credit through legal reforms. Leading authorities in the field address the key issues surrounding the availability of credit, the role of banks in economic development and financial crises, UNCITRAL's legislative efforts, and international organisations and financial institutions and their involvement in the reform of secured transactions law.

The information society is a key issue in everyday life and a phenomenon enc- passing social, cultural, economic, and legal facettes. Currently, an information society's legal framework is gradually crystallizing under the newly introduced term of "Internet governance". During the last few years, intensive discussions about the contents of Internet governance have addressed manifold aspects of a possible regulatory regime. In light of the general comprehension that an international treaty structure is mi- ing and that self-regulation as a normative model does not sufce in all respects, new architectural and constitutional theories have been developed; furthermore, the international body of the Internet Governance Forum (IGF) came to life. N- withstanding the available literature on IGF, however, a thorough and systematic study sheding light on the main topics of Internet governance (such as legitimacy, transparency, accountability, and participation) and on the key regulatory issues (for example critical Internet resources, access, protection of civil liberties/- man rights, realization of security, safety and privacy standards, as well as the overcoming of the digital divide) from a legal perspective is not yet at hand. The present publication aims at discussing these legal challenges. This book has benefted from many inputs and encouragements from colleagues that I am deeply grateful for. In particular, I am indebted to the very meaningful discussions and valuable support in the preparation of the publication by my - search assistants lic. iur Mirin . a Grosz and lic. iurR . omana Weber, to lic. iur.

Aviation is an important global business and a signi?cant driver of the global economy. Itisvital,therefore,thatstringentmeasuresaretakentocounteractsof unlawfulinterferencewithcivilaviation. TheConventiononInternationalCivil AviationsignedatChicagoon7December1944,statesinitsPreamblethatwhereas thedevelopmentofcivilaviationmayhelppreservefriendshipandunderstanding amongthepeopleoftheworld,yet,itsabusecouldbecomeathreattogeneral security. Thegenealogyoftheterm"Terrorism"liesinLatinterminologymeaning"to causetotremble"(terrere). Sincethecatastrophiceventsof11September2001, we have seen stringent legal measures taken by the United States to attack terrorism,notjustcurbit. Thefamousphrase"waronterror"denotespre-emptive andpreventivestrikescarriedoutthroughapplicableprovisionsoflegitimately adoptedprovisionsoflegislation. TheearliestexampleistheAirTransportation Safety and System Stabilization Act (ATSAA)enactedbyPresidentBushless thantwomonthsafterthe9/11attacks. Then,twomonthsaftertheattacks,in November2001,CongresspassedtheAviationandTransportationSecurityAct (ATSA)withaviewtoimprovingsecurityandclosingthesecurityloopholes whichexistedonthatfatefuldayinSeptember2001. Thelegislationpavedthe wayforahugefederalbodycalledtheTransportationSecurityAdministration (TSA) which was established within the Department of Transportation. The HomelandSecurityActof2002whichfollowedeffectedasigni?cantreorga- zationoftheFederalGovernment. Allthisgoestoshowthatthelawplaysasigni?cantroleinensuringaviation security. Thisbookaddressesnewandemergingthreatstocivilaviation;evaluates securitytoolsnowinusesuchasthePublicKeyDirectory,AdvancePassenger Information,PassengerNameRecordandMachineReadabletraveldocumentsin the context of their legal and regulatory background; and discusses applicable securitytreatieswhileprovidinganinsightintotheprocessofthesecurityaudits conductedbytheInternationalCivilAviationOrganization(ICAO). v vi Preface ThebookalsoexaminesissuesoflegalresponsibilityofStatesandindividuals forterroristactsofthirdpartiesagainstcivilaviationanddiscussesfromalegal perspectivethelatestliabilityConventionsadoptedatICAO. TheConclusionof thebookprovidesaninsightintotheapplicationoflegalprinciplesthroughrisk management. Sincethewritingofthisbook,theauthor publishedthreefeature articles entitled, The NW Flight 253 and the Global Framework of Aviation Security(AirandSpaceLaw,Volume35Issue2April2010167-Aviation is an important global business and a signi?cant driver of the global economy. Itisvital,therefore,thatstringentmeasuresaretakentocounteractsof unlawfulinterferencewithcivilaviation. TheConventiononInternationalCivil AviationsignedatChicagoon7December1944,statesinitsPreamblethatwhereas thedevelopmentofcivilaviationmayhelppreservefriendshipandunderstanding amongthepeopleoftheworld,yet,itsabusecouldbecomeathreattogeneral security. Thegenealogyoftheterm"Terrorism"liesinLatinterminologymeaning"to causetotremble"(terrere). Sincethecatastrophiceventsof11September2001, we have seen stringent legal measures taken by the United States to attack terrorism,notjustcurbit. Thefamousphrase"waronterror"denotespre-emptive andpreventivestrikescarriedoutthroughapplicableprovisionsoflegitimately adoptedprovisionsoflegislation. TheearliestexampleistheAirTransportation Safety and System Stabilization Act (ATSAA)enactedbyPresidentBushless thantwomonthsafterthe9/11attacks. Then,twomonthsaftertheattacks,in November2001,CongresspassedtheAviationandTransportationSecurityAct (ATSA)withaviewtoimprovingsecurityandclosingthesecurityloopholes whichexistedonthatfatefuldayinSeptember2001. Thelegislationpavedthe wayforahugefederalbodycalledtheTransportationSecurityAdministration (TSA) which was established within the Department of Transportation. The HomelandSecurityActof2002whichfollowedeffectedasigni?cantreorga- zationoftheFederalGovernment. Allthisgoestoshowthatthelawplaysasigni?cantroleinensuringaviation security. Thisbookaddressesnewandemergingthreatstocivilaviation;evaluates securitytoolsnowinusesuchasthePublicKeyDirectory,AdvancePassenger Information,PassengerNameRecordandMachineReadabletraveldocumentsin the context of their legal and regulatory background; and discusses applicable securitytreatieswhileprovidinganinsightintotheprocessofthesecurityaudits conductedbytheInternationalCivilAviationOrganization(ICAO). v vi Preface ThebookalsoexaminesissuesoflegalresponsibilityofStatesandindividuals forterroristactsofthirdpartiesagainstcivilaviationanddiscussesfromalegal perspectivethelatestliabilityConventionsadoptedatICAO. TheConclusionof thebookprovidesaninsightintotheapplicationoflegalprinciplesthroughrisk management. Sincethewritingofthisbook,theauthor publishedthreefeature articles entitled, The NW Flight 253 and the Global Framework of Aviation Security(AirandSpaceLaw,Volume35Issue2April2010167-182);TheUse of Full Body Scanners and Their Legal Implications; and The Use of Forged PassportsforActsofCriminality(bothofwhichcouldbeaccessedthroughthe webpageoftheJournalofTransportationSecurity(Springer). Thesethreearticles formausefuladjuncttothisbook. Montreal,CA RuwantissaAbeyratne Contents 1 ASecurityCulture ...1 A. ARisk-BasedApproach ...1 B. TheICAOResponse ...2 I. TheICAOHigh-LevelMinisterialConference ...2 II. PostConferenceWork ...7 C. EmergingThreats ...9 I. Probability ...9 II. ReactingtoProbability ...10 III. Deterrence ...13 IV. ProblemsofDeterrence ...14 V. ThreatAssessmentinICAO ...16 VI. TheAVSECPanel ...19 VII. Bioterrorism ...21 VIII. Cyber-Terrorism ...24 IX. MANPADS ...25 X. TheDiverseNatureofMissileAttacks ...29 XI. InstallationofanAnti-missileSystem ...32 XII. ThePerimeterGuard ...32 XIII. InternationalAccord ...33 XIV. OtherCurrentThreats ...36 References ...3 6 2 PrinciplesofResponsibility ...39 A. StateResponsibility ...39 I. PrinciplesofStateResponsibility ...42 II. TheTheoryofComplicity ...42 III. MechanismsforExtraditionofOffenders: TheLockerbieCase ...43 IV. TheCondonationTheory ...48 V. TheRoleofKnowledge ...51 vii viii Contents VI. Pro?lingofPassengers ...54 VII. AirportPro?ling ...55 VIII. Pro?lingandtheRightofPrivacy ...58 B. OtherAspectsofResponsibility ...61 I. PreludetotheRomeConventionof1952 ...61 II. TheRomeConventionof1952 ...66 C. TheRomeConventionof1952 ...70 I. Background ...70 II. Insurance ...71 III. ProvisionsoftheConvention ...

The theoretical basis of commercial law, corporate governance law, and corporate law is still unsatisfactory. There essentially is no theory of commercial law, and existing theories of corporate governance and corporate law cannot explain the behaviour of firms or the contents of existing regulation. This book proposes a coordinated solution for all three areas. The starting point is that all three areas deal with the organisation of firms. Commercial law, corporate governance, and corporate law are therefore studied from the perspective of the firm rather than that of the judge or the investor. Changing the perspective makes it easier to formulate an "umbrella" theory of commercial law, and theories of corporate governance and corporate law as applications of the main theory. The book provides examples of how the proposed theories work by studying legal corporate governance tools and practices that increase the sustainability of the firm. Sustainability can be bolstered by making the governance model more self-enforcing and ensuring that it fosters innovation.

"Wenn man eine Erkenntnis als Wissenschaft d- stellen will, so muss man zuvor das Untersch- dende, was sie mit keiner andern gemein hat, und was ihr also eigentumlich ist, genau bestimmen konnen; widrigenfalls die Grenzen aller Wiss- schaften in einander laufen, und keine derselben, ihrer Natur nach, grundlich abgehandelt werden 1 kann. " 1. 1 What Does Corporate Finance Law Mean? The law of corporate finance has been defined in a modern and more holistic way in this three-volume book. In this book, corporate finance law is studied from the perspective of the firm. Like modern commercial law in general, the law of cor- rate finance helps the firm to reach its legal objectives (management of cash flow and the exchange of goods, management of risk, management of agency relati- ships, and management of information). When trying to reach its legal objectives, the firm typically applies generic legal tools and practices (incorporation and choice of business form, contracts, regulation of internal processes through c- pliance and otherwise, typical ways to manage agency relationships, and typical ways to manage information problems) and takes into account legal rules that - long to different traditional fields of law (contract law, company law, banking law, 2 tax law, competition law, and so forth). In corporate finance law, these legal tools 1 Immanuel Kant, Prolegomena (1783), 1.

1.1 Cash Flow, Risk, Agency, Information, Investments The first volume dealt with the management of: cash flow (and the exchange of goods and services); risk; agency relationships; and information. The firm m- ages these aspects by legal tools and practices in the context of all commercial transactions. The second volume discussed investments. As voluntary contracts belong to the most important legal tools available to the firm, the second volume provided an - troduction to the general legal aspects of generic investment contracts and p- ment obligations. This volume discusses funding transactions, exit, and a particular category of decisions raising existential questions (business acquisitions). Transactions which can be regarded as funding transactions from the perspective of a firm raising the funding can be regarded as investment transactions from the perspective of an - vestor that provides the funding. Although the perspective chosen in this volume is that of a firm raising funding, this volume will simultaneously provide infor- tion about the legal aspects of many investment transactions. 1.2 Funding, Exit, Acquisitions Funding transactions are obviously an important way to manage cash flow. All - vestments will have to be funded in some way or another. The firm's funding mix will also influence risk in many ways. Funding. The most important way to raise funding is through retained profits and by using existing assets more efficiently. The firm can also borrow money from a bank, or issue debt, equity, or mezzanine securities to a small group of - vestors.

This book presents a clear and precise overview of the key aspects of German business law. It was written by attorneys involved in the daily practice of bu- ness law in Germany and is aimed at people who wish to orient themselves quickly with the German legal system and the manner in which it impacts bu- ness purchases, establishment, operations and liquidations. The first section of the book is devoted to an explanation of the major issues to be considered in acquiring or establishing a business in Germany. The second section focuses on areas of commercial law that are important for an operating business. In comparison to the last edition four new areas (transportation law, customs regulations, insurance law and state liability law) are treated. The f- lowing sections deal with labor law as an independent part of German business law and with computer law. Furthermore, procedural law and European law are addressed. Finally, the last two sections of the book are devoted to an overview over the German tax law, which has an enormous impact on business decisions, and IP law. In all sections special attention has been paid to highlighting and explaining the differences between the German legal system and that of the United States. Nevertheless, the intention is to provide information that will prove valuable to all foreigners, particularly business men and women and lawyers advising clients with an interest in doing business in Germany.

This book embarks on a contemporary analysis of the interaction of economics and law relating to air transport, delving into the major issues that plague the industry. It shows how some of the thorny and frustrating issues could be approached sensibly. Among the issues discussed are the anomaly of exponential growth of air transport which makes airline profitability continue to be poor; the legislative impediments in most countries that preclude direct foreign investment in the industry; the confounding and muddled mess behind the economics of aircraft engine emissions; and the inexplicable reality that, although civil aviation is primarily meant to meet the needs of the people of the world, State regulators have upended the equation and given priority to national interests over the interests of the passenger. The book will be of interest to economists and lawyers alike who deal with air transport issues, and also to academics and students in the area of transportation as well as regulators and airlines.

The book offers a comprehensive analysis of insurance intermediaries from a capital markets perspective. It presents an up-to-date market perspective, drawing the attention to the important trends and developments in the industry and recommends strategies to secure future growth. Further, it offers a detailed description of a valuation approach specifically tailored to small and mid-sized brokers. Research on insurance intermediary M&A reveals that positive abnormal returns are achieved for acquirers. The author points out which factors lead to value creation and investigates performance drivers in the tied agent channel.

Arbitration clauses in international commercial contracts are often reused from existing contracts. By so doing, the parties choose to apply, for example, either ad hoc or institutional arbitration and the UNCITRAL, ICC, LCIA, SCC, Swiss or other arbitration rules without necessarily being aware of the consequences. Moreover, parties often assume that an arbitration clause has the effect of excluding any kind of interference from a court of law and of rendering any but the chosen law redundant. This book highlights the specific features of various forms of arbitration and enables lawyers to make informed choices when drafting arbitration clauses. Chapters explain the framework for arbitration, its relationship with national law, and the features of the main arbitration institutions in Europe. The book also highlights new trends in other parts of the world that may have repercussions on the theory of international arbitration.

Secured transactions law has been subjected to a close scrutiny over the last two decades. One of the main reasons for this is the importance of availability of credit and the consequent need to reform collateral laws in order to improve access to finance. The ability to give security effectively influences not only the cost of credit but also, in some cases, whether credit will be available at all. This requires rules that are transparent and readily accessible to non-lawyers as well as rules that recognise the needs of small and medium-sized enterprises. This book critically engages with the challenges posed by inefficient secured credit laws. It offers a comparative analysis of the reasons and the needs for a secured transactions law reform, as well as discussion of the steps taken in many common law, civil law and mixed law jurisdictions. The book, written under the auspices of the Secured Transactions Law Reform Project, informs the debate about reform and advances novel arguments written by world renowned experts that will build upon the existing literature, and as such will be of interest to academics, legal practitioners and the judiciary involved in secured transactions law around the world. The text considers reform initiatives that have taken place up to the end of April 2016. It has not been possible to incorporate events since then into the discussion. However, notable developments include the banks decree passed by the Italian Government on 29th June 2016, and the adoption of the Model Law on Secured Transactions by UNCITRAL on 1st July 2016.