Читать книгу Retos y desafíos de las garantías reales - Abel B. Veiga Copo - Страница 49

The Secured Transactions Guide recognizes that the commencement, conduct, including the ranking of claims, administration and conclusion of insolvency proceedings is subject to the lex fori concursus. It also recognizes that the Insolvency Guide recommends that insolvency law should recommend an exception to the application of the lex fori concursus but only for financial contracts and labour contracts, and any other exception should be limited and clearly set out in insolvency law.

Thus, in line with the Insolvency Guide, the Secured Transactions Guide recommends, that while the law applicable to security interests in insolvency, in principle, remains applicable upon commencement of insolvency, this principle does not apply to mandatory insolvency law matters, such as avoidance, treatment of secured creditors, ranking of claims or distribution of proceeds32.