The Portuguese Presidency of the Council of the European Union has presented a new compromise proposal on the issue of secured claims, in an attempt to unblock the discussions on the Regulation which aims at remedying the lack of clarity concerning the law applicable to the effectiveness of assignments of claims in a cross-border transaction (see EUROPE B11979A1).
The problem is always the same: the proposal deals with the third-party effects of assignment of claims, but not with the effects...