On Monday 7 June, after three years of negotiations, the Council of the European Union approved its general approach on the proposal for a regulation on the law applicable to the third-party effects of the assignment of claims (see EUROPE B12734A15).
“Theassignment of claims is an essential legal mechanism for EU companies, including SMEs, to obtain liquidity through factoring, to access credit through guarantee agreements, and to borrowmoney on the markets at lower ratesthrough...