Law Professor invited to the United Nations UNCITRAL Colloquium harmonizing law in the age of digital trade and finance in New York
Professor Orkun Akseli attended the United Nations UNCITRAL Colloquium harmonizing law in the age of digital trade and finance in New York on 10-13 February 2026 to speak about the security over new types of assets including data and digital assets.
, Professor of Commercial and a former Fulbright Scholar in the United States of America, recently spoke at the United Nations Colloquium in New York, on the possible updates to the rules of the UNCITRAL Model Law on Secured Transactions.
His talk to the concentrated on making a security interest effective against third parties (perfection) and priority by registration or a less transparent method of control in relation to new emerging types of assets and their impact in the case of the grantor鈥檚 insolvency. These new asset types include data and digital assets.
The talk suggested, in the light of emerging new asset classes, revisions to the Model Law in perfecting security interests over digital and other types of emerging assets and how priority may be established between creditors.
The Model Law is used as a template for law reform of secured transactions around world. It is a modern law, but not contemporary, and needs revisions in the light of developments in law and finance. If the revisions are agreed by the United Nations Commission on International Trade Law, Professor Akseli鈥檚 recommendations on revising the rules on perfection and priority, and the effect on grantor鈥檚 insolvency in relation to new asset types will contribute to the debate by influencing and shaping the reform and the Model Law on Secured Transactions.