"Die Aufrechnung im Europäischen Kollisions- und Verfahrensrecht: unter besonderer Berücksichtigung von Nettingvereinbarungen" by Georgia Koutsoukou
Book of week 39
9783848750696
Nomos, 2018
Set-offs are broadly used in commercial and financial transactions as they simplify transactions and protect against a counterparty’s default risk. In addition, netting agreements, which rely on the traditional notion of set-offs, are very common in banking and financing operations. Both set-offs and netting are relevant in cross-border situations.
This book conducts an in-depth analysis of the ways in which the right to use set-offs currently conflicts with the EU’s private international law, insolvency law and procedural law. It also takes into account EU rules on netting agreements. It identifies the shortcomings of the existing provisions and provides suggestions on how to mitigate legal uncertainty surrounding the enforceability of set-off and netting agreements at EU Level.
