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Lex situs: Difference between revisions
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So, if your assets are held in a [[tri-party collateral arrangement]] in {{tag|Luxembourg}}, for example, even if your trading contract is an English law {{gmsla}}, you ought to have a [[Luxembourg law pledge]] to go with your English law [[Fixed charge|fixed]] or [[floating charge]]. | So, if your assets are held in a [[tri-party collateral arrangement]] in {{tag|Luxembourg}}, for example, even if your trading contract is an English law {{gmsla}}, you ought to have a [[Luxembourg law pledge]] to go with your English law [[Fixed charge|fixed]] or [[floating charge]]. | ||
===Assignment of rights=== | |||
Where the thing you are taking security over is a disembodied legal right — a “[[chose in action]]” and not a “[[chose in possession]]” — then what is the lex situs, seeing as this thing floats free of the ghastly, rusting mortal world of territorial boundaries? It is a Platonic right, and ethereal, idealised, utopian thing and as such as stateless, existing as it does on another plane, in another geometry, that that of tawdry earthly things like regulatory perimeters. | |||
Here the ''lex situs'' is the governing law of the right being assigned. | |||
{{sa}} | {{sa}} | ||