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The Recognition in Finland of Non-Possessory Security Interests Created Abroad

The Recognition in Finland of Non-Possessory Security Interests Created Abroad THE RECOGNITION IN FINLAND OF NON-POSSESSORY SECURITY INTERESTS CREATED ABROAD By Kaarina Buure-Hagglund jur. lic., LLM, assistant professor at the Institute of Comparative Law, Helsinki, Finland I. INTRODUCTION In Finland, there are no statutory provisions concerning recognition of security in- terests created abroad, neither has this topic been discussed in the Finnish legal lit- erature so far. Even a systematical study of the security interests within the Finnish legal and economic system is lacking. Finnish courts are rarely faced with issues con- cerning private international law other than international family law. As a conse- quence, they are not experienced in taking a stand in choice-of-law questions or issues concerning recognition of foreign rights. In the few cases where foreign secured cre- ditors have been involved the decision has been based on Finnish law without any reference to the choice-of-law problem or the recognition of rights created abroad. Thus, to lay down specific rules for different situations would mean mere specu- lation or purely theoretical ideas. The only feasible approach, then, would seem to be to present the Finnish system of security rights as the framework for the recognition of foreign security interests and to try to make conclusions http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Nordic Journal of International Law Brill

The Recognition in Finland of Non-Possessory Security Interests Created Abroad

Nordic Journal of International Law , Volume 47 (1-2): 30 – Jan 1, 1978

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Publisher
Brill
Copyright
© 1978 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
0902-7351
eISSN
1571-8107
DOI
10.1163/187529378X00082
Publisher site
See Article on Publisher Site

Abstract

THE RECOGNITION IN FINLAND OF NON-POSSESSORY SECURITY INTERESTS CREATED ABROAD By Kaarina Buure-Hagglund jur. lic., LLM, assistant professor at the Institute of Comparative Law, Helsinki, Finland I. INTRODUCTION In Finland, there are no statutory provisions concerning recognition of security in- terests created abroad, neither has this topic been discussed in the Finnish legal lit- erature so far. Even a systematical study of the security interests within the Finnish legal and economic system is lacking. Finnish courts are rarely faced with issues con- cerning private international law other than international family law. As a conse- quence, they are not experienced in taking a stand in choice-of-law questions or issues concerning recognition of foreign rights. In the few cases where foreign secured cre- ditors have been involved the decision has been based on Finnish law without any reference to the choice-of-law problem or the recognition of rights created abroad. Thus, to lay down specific rules for different situations would mean mere specu- lation or purely theoretical ideas. The only feasible approach, then, would seem to be to present the Finnish system of security rights as the framework for the recognition of foreign security interests and to try to make conclusions

Journal

Nordic Journal of International LawBrill

Published: Jan 1, 1978

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