UNIDROIT Proceedings and Papers 2007

This collection of documents comprises the Annual Report on the activity of the International Institute for the Unification of Private Law (UNIDROIT), a summary of the conclusions reached by the Governing Council of UNIDROIT at its annual session, the report on the annual session of the General Assembly of UNIDROIT member States, the final texts of instruments prepared under the auspices of UNIDROIT, documents concerning current work on instruments adopted as well as the preparatory work, consisting of the studies and reports of the various working groups and committees of governmental experts, on items on the UNIDROIT Work Programme.

CONTENTS

INSTITUTIONAL DOCUMENTS

Governing Council: 86th session (Rome, 16-18 April 2007)
UNIDROIT 2007 - C.D. (86) 2
ANNUAL REPORT 2006 – Rome, 2007

UNIDROIT 2007 - C.D. (86) Misc. 2
SUMMARY OF THE CONCLUSIONS REACHED BY THE GOVERNING COUNCIL AT ITS 86TH SESSION

General Assembly, 61st session (Rome, 29 November 2007)
UNIDROIT 2007 - A.G. (61) 8
REPORT (prepared by the UNIDROITSecretariat) - December 2007


CURRENT WORK ON ITEMS ON THE UNIDROIT WORK PROGRAMME

Study L – Principles of International Commercial Contracts
UNIDROIT 2007 - Study L - Doc. 100
Working Group for the preparation of Principles of International Commercial Contracts (3RD). Second session, Rome, 4 – 8 June 2007. POSITION PAPER ON UNWINDING OF FAILED CONTRACTS by Professor Reinhard Zimmermann, Director at the Max-Planck-Institut für ausländisches und internationales Privatrecht, Hamburg - April 2007

UNIDROIT 2007 - Study L - Doc. 101 and UNIDROIT 2007 - Study L - Doc. 101 Add.
Working Group for the preparation of Principles of International Commercial Contracts (3RD). Second session, Rome, 4 – 8 June 2007. POSITION PAPER ON ILLEGALITY and ADDENDUM by Professor Michael Furmston, Emeritus at the University of Bristol - April and June 2007

UNIDROIT 2007 - Study L - Doc. 102
Working Group for the preparation of Principles of International Commercial Contracts (3RD). Second session, Rome, 4 – 8 June 2007. POSITION PAPER ON PLURALITY OF OBLIGORS AND/OR OBLIGEES by Professor Marcel Fontaine, Emeritus at the Catholic University of Louvain Law School - April 2007

UNIDROIT 2007 - Study L - Doc. 103
Working Group for the preparation of Principles of International Commercial Contracts (3RD). Second session, Rome, 4 – 8 June 2007. POSITION PAPER ON CONDITIONS by Professor Bénédicte Fauvarque-Cosson, Université Panthéon-Assas Paris II - May 2007

UNIDROIT 2007 - Study L - Doc. 104
Working Group for the preparation of Principles of International Commercial Contracts (3rd). Second session, Rome, 4 – 8 June 2007. POSITION PAPER WITH DRAFT PROVISIONS ON TERMINATION OF LONG TERM CONTRACTS FOR JUST CAUSE by François Dessemontet, Swiss Arbitration Association - January 2007

UNIDROIT 2007 - Study L - Misc.27
Working Group for the preparation of Principles of International Commercial Contracts (3rd). Second session, Rome, 4 – 8 June 2007. Summary Records of the 2nd session of the Working Group (4 - 8 June 2007) (prepared by the Secretariat of UNIDROIT) - November 2007

Study LIX A – Model Law on Leasing
UNIDROIT 2007 - Study LIX A - Doc. 12
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Model Law on Leasing. First session, Johannesburg, 7/10 May 2007. SUMMARY REPORT (prepared by the Secretariat) – July 2007
Study LXV – Programme of Legal Co-operation
UNIDROIT 2007 - Study LXV - Scholarships; Impl. 18 Rev.
Research Scholarships Programme. IMPLEMENTATION REPORT FOR THE FINANCIAL YEAR 2006 - March 2007
Study LXXVIII - Transactions on transnational and connected capital markets
UNIDROIT 2007 - Study LXXVIII - Doc. 44 Add.
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. SUPPLEMENTARY WORKING PAPER REGARDING SO-CALLED " TRANSPARENT SYSTEMS" (prepared by the Secretariat on the basis of contributions submitted by delegations) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 58
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Third session, Rome, 6/15 November 2006. REPORT - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 59
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. WORKING PAPER ON TRANSITIONAL RULES (Prepared by the Swiss Delegation) - February 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 60
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. WORKING PAPER REGARDING "TRANSPARENT SYSTEMS" (prepared by Chairs of the Working Group) - February 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 61
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. EXAMINATION OF THE DRAFT CONVENTION VIS-À-VIS THE CZECH LEGAL ORDER (submitted by the Government of the Czech Republic) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 62
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE BRAZILIAN DELEGATION TO THE WORKING GROUP ON SO CALLED TRANSPARENT SYSTEMS (submitted by the Government of the Federative Republic of Brazil) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 63
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. THE GREEK HOLDING SYSTEM. SYNOPTIC PRESENTATION (submitted by the Government of Greece) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 64
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE UNITED KINGDOM REPRESENTATIVE ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of the United Kingdom) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 65
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE PEOPLE'S REPUBLIC OF CHINA REPRESENTATIVE ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of the People's Republic of China) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 66
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE FRENCH DELEGATION ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of France) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 67
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE SWISS DELEGATION ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of Switzerland) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 68
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. OBSERVATIONS ON TRANSITION PROVISIONS (submitted by the Government of the United States of America) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 69
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. OBSERVATIONS ON TRANSITIONAL RULES (submitted by the Government of Finland) - March 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 70
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. REPORT OF THE TRANSPARENT SYSTEMS WORKING GROUP - DRAFT - (prepared by Chairs of the Working Group) - April 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 71
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE DELEGATION OF SOUTH AFRICA ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of South Africa) - April 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 72
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the International Swaps and Derivatives Association, Inc., ISDA) - April 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 73
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. OBSERVATIONS ON TRANSITIONAL RULES (submitted by the Delegation of the Czech Republic) - April 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 74
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the Delegation of the United States of America) Observations on Innocent Acquisition and Immunity - April 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 75
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the Delegation of Denmark) - April 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 76
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the European Banking Federation) - April 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 77
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE DELEGATION OF GREECE ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of Greece) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 78
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE DELEGATION OF ARGENTINA ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of Argentina) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 79
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the Government of the Republic of Latvia) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 80
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the Government of the Republic of Turkey) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 81
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE MALTESE REPRESENTATIVE ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of Malta) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 82
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the Government of Poland) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 83
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS AND INTERNATIONAL ORGANISATIONS (submitted by the Delegation of the United States of America) Observations on Article 15 - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 84
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. REPORT ON TRANSITIONAL RULES - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 85
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE DELEGATION OF BRAZIL ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Government of the Federative Republic of Brazil) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 86
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS and INTERNATIONAL ORGANISATIONS (submitted by the Government of France) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 87
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. OBSERVATIONS ON TRANSITIONAL RULES (submitted by the Government of the Republic of Korea) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 88
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. REPORT OF THE TRANSPARENT SYSTEMS WORKING GROUP (prepared by Chairs of the Working Group) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 89
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS and INTERNATIONAL ORGANISATIONS (submitted by the Government of the United Kingdom) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 90
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS and INTERNATIONAL ORGANISATIONS (submitted by the Delegation of Austria) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 91
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Working Group on so called Transparent Systems - Intersessional Work. COMMENTS OF THE DELEGATION OF THE UNITED STATES OF AMERICA ON THE DRAFT WORKING PAPER ON TRANSPARENT SYSTEMS (submitted by the Delegation of the United States of America) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 92
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS and INTERNATIONAL ORGANISATIONS (submitted by the Delegation of Czech Republic) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 93
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. COMMENTS BY GOVERNMENTS and INTERNATIONAL ORGANISATIONS (submitted by the Government of Italy) - May 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 94
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. PRELIMINARY DRAFT CONVENTION ON SUBSTANTIVE RULES REGARDING INTERMEDIATED SECURITIES (as adopted by the Committee of Governmental Experts at its fourth session, held in Rome, 21-25 May 2007) - July 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 95
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Fourth session, Rome, 21/25 May 2007. REPORT - August 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 96
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. PRELIMINARY NOTE - November 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 97
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Insolvency-related Issues. PAPER (prepared by the Chairman of the informal Working Group) - December 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 98
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. COMMENTS ON THE QUESTIONNAIRE CONCERNING "GOOD FAITH ACQUISITION" (submitted by the German delegation) - December 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 99
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. COMMENTS ON THE QUESTIONNAIRE CONCERNING "GOOD FAITH ACQUISITION" (submitted by the Czech delegation) - December 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 100
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. COMMENTS ON THE QUESTIONNAIRE CONCERNING ACQUISITION BY AN INNOCENT PERSON (submitted by the Australian delegation) - December 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 101
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. COMMENTS ON THE QUESTIONNAIRE CONCERNING ACQUISITION BY AN INNOCENT PERSON (submitted by the delegation of South Africa) - December 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 102
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. COMMENTS ON THE QUESTIONNAIRE CONCERNING ACQUISITION BY AN INNOCENT PERSON (submitted by the Finnish delegation) - December 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 103
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. COMMENTS ON THE QUESTIONNAIRE CONCERNING ACQUISITION BY AN INNOCENT PERSON (submitted by the Danish delegation) - December 2007

UNIDROIT 2007 - Study LXXVIII - Doc. 104
UNIDROIT Committee of Governmental Experts for the Preparation of a draft Convention on Substantive Rules regarding Intermediated Securities. Informal Working Group on Article 14 of the draft Convention. COMMENTS ON THE QUESTIONNAIRE CONCERNING ACQUISITION BY AN INNOCENT PERSON (submitted by the European Commission) - December 2007

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