Taking Security

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4th Edition, July 2018

Taking Security is a highly respected and authoritative text on security law, which examines the key legal principles in taking, perfecting, enforcing and challenging security. Written in a practical and accessible style, it is an invaluable addition to the busy practitioner's shelf.

The book is mainly concerned with property and insolvency law, two areas where security is tested and enforced.

The book is accordingly broken down into the following parts:

Part A and B: Introduction and Types of Security (Chapters 1-5): what types of security are available to a creditor, what are the differences between pledges, mortgages and fixed and floating charges, and what are their advantages and disadvantages?

Part C: Creating Security (Chapters 6 and 7): how is security created in practice and what requirements are there to register the security?

Part D: Priority of Security (Chapter 8): what are the priorities between the creditor and another person who obtains an interest in the secured asset?

Part E: Enforcing Security (Chapters 9 and 10): how is security enforced, what liabilities can be incurred as a result of enforcing security, and how can the onset of insolvency proceedings against the debtor affect the enforcement of security?

Part F: Security Arising by Operation of Law (Chapter 11): in what circumstances is security created without the necessity for an agreement between the debtor and the creditor?

Part G: Alternatives to Security (Chapters 12 and 13): to what extent can a creditor protect himself against the insolvency of the debtor in other ways, for instance, by taking a guarantee from a third party or by relying on a right of set-off?

Part H: International Security (Chapters 14 and 15): what issues arise where the transaction is of a cross-border nature?

Appendix: The Goods Mortgages Bill

The new edition includes:

  • A detailed examination of the new Business Contract Terms (Assignment of Receivables) Regulations and how they will work in practice

  • Discussion on the recent Goods Mortgages Bill

  • Greater coverage of practical issues that arise in the course of transactions

This book is an essential reference for litigation lawyers when disputes arise, and for insolvency lawyers and accountants.