Jonathan M. Cooper and Richard M. Kohn
For the past five years the Commercial Finance Association (CFA) has been actively involved with the United Nations Commission on International Trade Law (UNCITRAL) in the development of the Convention on Assignment of Receivables in International Trade. Now that work on this convention is almost complete (a final draft is expected in July 2001), UNCITRAL has begun work on a new project: the study of the desirability of developing model legislation concerning security interests in collateral other than receivables.
To that end, UNCITRAL invited various experts in finance, including CFA, to submit papers on three specific types of collateral — inventory, intellectual property and investment securities — which would identify issues (and propose solutions) relating to cross-border loans secured by these types of collateral which might be considered in connection with the study.
CFA submitted papers on all three types of collateral. The papers were prepared by a working group, which included Richard Kohn and Jonathan Cooper.
UNCITRAL also convened a meeting at its headquarters in Vienna on January 30-31, 2001, to discuss the papers. Richard Kohn attended the Vienna meeting on behalf of CFA.
Reproduced with permission from The Secured Lender