A New Solution Concerning Choice-of-Law for the Assignment of Debts

Abstract

This article explores a solution to the choice-of-law issues concerning both voluntary and involuntary assignments arising in a domestic forum. The focus is on English private international law rules relating to cross-border assignments. A distinction is made between primary and extended parties as the foundation for choice-of-law analysis. Drawing on insights from the distinction of the use value and exchange value of debts found in economics, this article proposes a new analytical framework for choice-of-law based on a modified choice-of-law theory of interest-analysis.

Keywords: private international law, choice-of-law, assignment of debts, lex situs, lex concursus, interest-analysis, third-party effects

JEL Classification: K33, K41, K22