The law of cross-border transactions in relation to shares and bonds

Abstract

This dissertation is intended to focus upon the various choice of law issues arising out of transfer and pledge of shares and bonds when a foreign element is involved. It examines the choice of law problems that arise in the context of transactions carried out by way of the traditional direct holding system and by way of the indirect holding system. The first chapter is intended to serve as an introduction to the other chapters and is meant to cover all preliminary aspects of the various elements that compose the subject of this dissertation, namely, an examination of the instruments, that is, the shares and bonds and their nature, an introduction to the choice of law rules which arise in relation to shares and bonds as "passive" instruments and the !ex situs rule advocated by the main conflicts textbooks, and finally, a description of the various transactions in shares and bonds from a legal and practical aspect. The introduction ends with a brief description of the way the indirect holding system operates.