Michael G. Bridge

Personal property law

1. Property Rights and Classes of Property 2. Interests in Chattels and Bailment 3. The Protection of Property Interests in Chattels 4. Further Property Protection and its Limits 5. The Conveyance 6. Transfer of Title 7. Transfer of Intangible Property 8. Security Interests in Personal Property

Private Law and Financial Crises

Regulation has been at the centre of the financial debate since the global financial crisis, but a full appreciation of the lessons of the crisis also requires account to be taken of private law. This article begins by considering the overlapping functions of private law in the financial markets, including its capacity to address the unprecedented and complex problems that arise during crises and their aftermath. Focusing on the role of property law in insolvency proceedings, we use four case studies to evaluate the wider implications of this function of private law. Our research suggests that the use of private law to manage the fall-out to the recent crisis has come at a price, which is the impact on a number of fundamental legal principles that underpin the markets. We conclude that the continued robustness of private law requires a more proactive approach from various constituencies.

AVOIDANCE FOR FUNDAMENTAL BREACH OF CONTRACT UNDER THE UN CONVENTION ON THE INTERNATIONAL SALE OF GOODS

This article deals with the avoidance of contracts for non-performance under the United Nations Convention on the International Sale of Goods 1980, which has been adopted by more than 70 States, though not yet by the United Kingdom. It critically analyzes the text of the Convention, and measures the contributions of national courts for fidelity to the text of the Convention and compatibility with the purposes served by that text.

The law of security and title-based financing

Previously published as The Law of Personal Property Security, this new edition brings together all of the law on this complex area, providing guidance in the context of commercial practice, especially with increased coverage of conflict of laws, priority, insolvency, and enforcement.

Clearing houses and insolvency

The International Air Transport Association clearing house scheme, judged by the House of Lords in British Eagle International Airlines Ltd v Cie Nationale Air France to offend fundamental insolvency principles, has now been held by the Australian High Court in International Air Transport Association v Ansett Holdings Ltd, reversing the court below, to be compliant with insolvency law as a result of amendments made to the scheme in the wake of British Eagle. The decision in Ansett Holdings repays close attention for what it has to say about clearing houses and netting schemes.

Security Financial Collateral Transfers and Prime Broker Insolvency

This article deals with the consequences of a prime brokers insolvency in the case of a security financial collateral arrangement. In Re Lehman Brothers International (Europe), Briggs J had to deal with the proprietary rights of a custody client in respect of securities initially transferred to a prime broker and securities substituted for those original securities by the prime broker. In addition, issues arose as to the prime brokers beneficial ownership of cash generated by securities after the prime broker went into administration and as to whether a duty on the part of administrators to account to the custody client for that cash was an expense of the administration.