Remarks on the Commission's Proposal on the Law Applicable to the Third-Party Effects of Assignment of Claims

The paper provides an overview of the European Commission’s proposal on the law applicable to the third-party effects of the assignment of claims. The Proposal, based on a sensitive balance between the interests of the factoring and the securitisation industries, fosters the foreseeability of the applicable law and the harmony of solutions. The combination of the law of the assignor as general rule with the law of the assigned claim as exception is consistent with the solution adopted at the international level and fits the property interests underlying the assignment of claims. Normative consistency with the Insolvency Regulation is depicted as one of the main goals of the Proposal. However, due to the mismatches be-tween the connecting factors adopted in the two instruments, such goal risks to remain only on paper. To avoid this, the present article suggests localising the assignor’s habitual residence at the company’s registered office under the COMI notion adopted under the Insolvency Regulation