关于民间融资的外文翻译(英文)

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1、FINANCINGCIVILLITIGATIONTHECASEFORTHEASSIGNMENTANDSECURITIZATIONOFLIABILITYCLAIMSAndreaPinnaInstitutdedroitdesaffairesinternationalesAbstractThispaperexaminesthepossibilityoffinancingcivillitigationbywayoftheassignmentofaliabilityclaimtoaninvestor,whichwould“acquire”theclaiman

2、dbringaclaimincompensationonitsownnameandbehalf.Thestartingpointoftheresearchistheobservationthatif,intheory,therightforcompensationisconsideredtobeafundamentalright,inpractice,itsimplementationconsiderablylackseffectivenessespeciallyinconsiderationofthefinancialbarriersforacc

3、essingjustice.Thehypotheticalexaminedisthesituationinwhichaninjuredpartyofatortorabreachofcontract(theassignor)assignstoathirdparty(theassignee)itsrightsagainstaliablepartyinexchangeofremuneration.Themainfeatureofthesystemisthattheinjuredpartyreceivescompensationbywayofpayment

4、ofthepricefortheclaimbeforearulingontheliabilityandthemeasureofdamageshavebeenmade.Thereforetheassigneemakesariskybargainbecauseheisnotsurethatthepossibleproceedsderivingfromthelawsuitwillcoveritsinvestment.Thisishoweverprimafacieasoundsystemsincetheassignee,beforeacquiringacl

5、aimandforthedeterminationoftheconsideration,willcarefullyassessthechancestowinthelawsuitandthedamagesthatcouldbeawardedbycourts.Naturally,theconsiderationfortheassignmentaninvestorispreparedtopayislowerthantheamountoftheanticipatedproceedsofthelawsuitsinceitsdeterminationincor

6、poratesboththeriskoflosingthelawsuitandthedifferenceintimebetweenthepaymentofthepriceandtheexpectedgainfrominvestment.Thistechniqueoffinancingcivillitigationhasnotbeenusedinpracticesofar,atleastnotonalargescale.Thisnaturallyraisestwomainquestions.Thefirstoneistodeterminewhethe

7、rtheassignmentofliabilityclaimsforspeculationpurposesislegallyadmissibleoriscontrarytopublicpolicy.Europeanlegalsystemsaredividedontheissue,whichisshownbyacomparisonbetweenEnglishandFrenchlaw.Eitherdelegelataordelegeferenda,thesecondissueistodeterminewhetherthesystemiseconomic

8、allyviableanddesirable.Theauthortakespositioninfavoroftheassi