Baku to Host Presentation of Draft Secured Transactions Law
The U.S. Embassy in Azerbaijan announced that ACD/VOCA SME Support through Financial Development Project funded by USAID will deliver a presentation of a draft Secured Transactions Law and the Filing System in Shusha Room of the Hyatt Conference Center on Thursday, 23 November 2006, Trend reports.
The presentation will be delivered by the organization's consultant Mr. Everett Wohlers who has thirty years experience in the operation and development of business entity and secured transaction filing offices. He has done consulting work in the United States, Egypt, Cambodia, Vietnam, Fiji Islands, Georgia, China, the Russian Federation, Federated States of Micronesia, Palestine, Marshall Islands and Solomon Islands.
The ultimate objective of the law is to establish a more effective, flexible system for secured lending transactions and to provide transparency of interests in movable property and to permit lenders to assure their priority in collateral.