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Part II Jurisdiction and Applicable Law, 4 Applicable Law

From: Set-Off in Arbitration and Commercial Transactions

Pascal Pichonnaz, Louise Gullifer

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 27 January 2022

Subject(s):
Claims — Insolvency set-off — Transaction set-off
4.01 When two or more claims are reciprocal, and if they are governed by different applicable laws, a difficult issue is to determine which law should apply to set-off. After some general aspects on this issue (Section A), we deal with the EU Regulation on applicable law (Rome I Regulation) of 2008, which is applicable to all EU Member States except Denmark, and has a specific provision on set-off (Art 17) (Section B). We then examine the Rome Convention on applicable law (Section C), before presenting the new trend, which consists of resolving the difficult issue...
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