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Suppliers of goods tend to think that they have strong rights if they retain ownership of the delivered goods until the purchase price has been fully paid.
But is that correct? As long as the purchaser can pay the purchase price, disputes may be solved fairly easily by claiming payment in court or repossessing the goods. However, things may get difficult for the supplier when the purchaser is unable to pay, especially if the purchaser becomes insolvent.
Over the past decade the number of insolvencies has increased dramatically, increasing in complexity. Particularly when foreign jurisdictions come into play, it may appear that a supplier’s rights are weaker than it thought. Has the supplier really retained title to the goods or can the liquidator dispose of them and take the money?
This practical handbook provides an overview of the most relevant legal issues concerning retention of title in over 30 of the most important business nations globally.
It provides guidance to manufacturers and suppliers of goods, insolvency practitioners and their attorneys to promote a better understanding of retention of title and the effects of insolvency. Whether you are a lawyer, insolvency practitioner or general counsel in an international business, this commercially focused guide will provide practical insight into relevant legal issues.