CLLS Financial Law Committee's Responses to the Law Commission’s Consultation on Digital Assets and Private International Law [II]

This response to the Law Commission's Consultation Paper 273 entitled, "Digital assets and (electronic) trade documents in private international law" has been prepared by the Financial Law Committee of the CLLS, whose members specialise in major financings involving obligors incorporated in multiple jurisdictions, creditors incorporated or doing business in multiple jurisdictions, and assets located, or deemed by principles of private international law to be located, in multiple jurisdictions.

The FLC is submitting two responses to the Consultation Paper: (a) a response to various proposals made with respect to digital assets generally in the Consultation Paper, and in particular, to matters discussed in Chapter 5 and Chapter 6 of the Consultation Paper, and (b) this response (the "ETD Response"), which focuses on Chapter 7 of the Consultation Paper –"Electronic Trade Documents (ETDs) and section 72 of the Bills of Exchange Act 1882" – and also takes into account the document entitled, "ETDs in Private International Law: FAQs".