Party Autonomy in International Property Law - Peace Palace Library

8. European Conflict Rules for the Mutual Recognition of Security Rights in Goods
comparable Dutch institution is now – since the security transfer of
owner ship is no longer allowed – the ‘stil pandrecht’: namely, the pledge
of monetary claims without notice to the debtor. 44 The Supreme Court
adopted the aforementioned formula of the appellate court in general,
but specified that it must be applied with respect to the specific purpose
that is in issue. 45
In view of the long procedure and the intensive review, this decision carries
a high degree of persuasion for the treatment of English-style floating
charges by Continental courts.
d) Sweden
Two cases involving cars registered in Germany came before the Supreme
Court. Both cars had served as security for loans to the holders of the cars;
these had been transferred under a transfer of ownership for security to the
financing banks. After the automobiles had been brought temporarily to
Sweden, public authorities laid hands on them. In one case, the secured
creditor successfully claimed its asset. 46 By contrast, the owner of the other
car did not succeed, because the car had been misused for smuggling and
selling drugs illegally in Sweden, and was confiscated. 47
e) United Kingdom
It can hardly come as a surprise that an Irish floating charge was recognized
in England. 48
44
Hof Amsterdam (preceding n.) sub 4.20 of the court’s reasons.
45
No. 3.3 of the reasons.
46
S.Ct. 1 October 1984, NJA 1984 I no. 125.
47
S.Ct. 18 October 1968, NJA 1968 I no. 63 in the criminal proceedings, confirmed
after sale of the car by S.Ct. 17 May 1972, NJA 1972 I no. 34.
48
Cretanor Maritime Co. Ltd. v. Irish Marine Management, Ltd. [1978] 1 W.L.R.
966, 977 s. per Lord Buckley (C.A.).
Ulrich Drobnig
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