Prudent creditors seek to protect themselves against the risk of their debtor's insolvency by taking security. With the growth of the multinational corporation and the increasing globalization of the market-place, cross-border insolvency has become a major commercial risk. Much academic, judicial, and legislative consideration has been given to this problem, and international conventions and major legal textbooks have been devoted to the subject. Less consideration, however, has been given to the connected and equally important, but possibly more intractable, issue of cross-border security. This book should prove a major contribution to understanding the nature of the problems involved, without which even tentative solutions are unlikely to be found. It owes its origin to an important colloquium held at St John's College, Oxford in April 2000. The distinguished speakers came from different jurisdictions, England, the United States, Germany, and France, and included bankers and...

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