Martin Karollus
Recent problems of the assignment of claims as security for a loan
The basic prerequisite for a loan against assignment of receivables by banks, the assignment as security for a loan, has recently become the center of discussions: With the decision of September 29, 1998, 1 Ob 406/97f , the Austrian Supreme Court for the second time within a short period of time - after the decision of October 29, 1997, 5 Ob 2155/96 1, ÖBA 1998, 392 with discussion of Karollus - deals with fundamental questions concerning assignments generally and the assignment as security for a loan in particular. The decision contains numerous statements which partly can agreed with but partly have to be criticized or at least questioned more closely. The following article centers on questions concerning the necessary Publicity on which the validity of assignments and therefore also their resistance against attack in bankruptcy proceedings depend. The article also examines other issues discussed by the Austrian Supreme Court, for example the admissibility of global assignments and the acknowledgment by the debitus cessus.
