The European Commission’s proposal seeks to remove uncertainties about cross-border transactions, by introducing a general rule that in conflict situations the law of the assignor's habitual residence applies. The proposal notes that exemptions will be needed to cater for sectors which may not be well served by this rule. For securitisation transactions, the Commission proposes a choice between the law of the assignor and the law of the assigned claim. 

The Commission has established a feedback deadline of 7 May. For further information, please contact Marie-Adelaide de Nicolay.