1. © Allen & Overy 2015 * Dewi Hamwijk Secured Transactions Regime for Access to Finance 2nd Competitiveness Forum Suriname, March 11, 2015

2. © Allen & Overy 2015 1. (Global) development since the 19 th century:  Possessory security  non-possessory (“silent”) security  Much diversity among national legal systems *

3. © Allen & Overy 2015 2. (Global) trend: *  Cross-border trade  ‘Model laws’ which intend to: -Harmonize -Modernize -Publicize  Front runner: Art. 9 UCC  EBRD, OAS, ADB, UNCITRAL, DCFR etc.

4. © Allen & Overy 2015 3. Thesis: USA vs. EU *

5. © Allen & Overy 2015 4. Suriname: outdated legal framework *  Focus on fixed assets (mortgage)  Security on movable assets is not public -Current Civil Code: possessory pledge and ‘fiduciairy transfer’ (not registered) -New Civil Code: non-possessory pledge (not registered)  Insufficient rules providing for execution and enforcement

6. © Allen & Overy 2015 5. Challenge: incentivize finance *  Adopt clear rules on execution and enforcement  Adopt clear rules on priority  Establish publicity: registration

7. © Allen & Overy 2015 * Questions? Dewi.Hamwijk@AllenOvery.com These are presentation slides only. The information within these slides does not constitute definitive advice and should not be used as the basis for giving definitive advice without checking the primary sources. Allen & Overy means Allen & Overy LLP and/or its affiliated undertakings. The term partner is used to refer to a member of Allen & Overy LLP or an employee or consultant with equivalent standing and qualifications or an individual with equivalent status in one of Allen & Overy LLP’s affiliated undertakings.