Perspectives internationales de la réforme du droit français des sûretés

Abstract

Abstract A recent French reform, dated 15 September 2021, which entered into force on 1 January 2022, largely modifies the law of guarantees and security interests. It clarifies a certain number of rules, suppresses several security interests that appeared to be obsolete, and reinforces the protection of warrantors without neglecting the interests of creditors. Adopted to promote security, flexibility, and accessibility to French Law, and to enhance the efficiency of secured transactions, the reform has generally been perceived as successful. The purpose of this paper is to present the reform in an international perspective and to try to understand whether it fits the purpose it was assigned: to strengthen the attractiveness of French Law in the comparative landscape. We will demonstrate that, regarding a certain number of international instruments and foreign laws, the answer tends to be affirmative. The French Government might also seize this opportunity to include France in several international projects that it has, so far, stayed away from, such as the ratification of the Cape Town Convention.