Collective Security Arrangements

This book contemplates the ways in which collective security arrangements may be made under Dutch, English and German law. Finance transactions involving groups of lenders have developed along with the need of corporate borrowers for substantial credit over longer periods of time. Leaving aside large corporate entities with a good credit rating, the group of borrowers able to borrow without giving any security is limited.

In finance transactions where repayment of the loan is principally dependant on the returns of the undertaking or assets financed, such as securitisations, repackagings, project finance and leveraged acquisition finance, maximum security over the assets concerned will normally be a prerequisite for finance. Where finance is extended by a group of lenders and security must be given for their loans, it is usual to make a collective security arrangement for the benefit of all lenders involved. This book discusses how collective security arrangements can be set up effectively and in the most efficient way. It aims to offer practical solutions for the legal issues that arise in the context of these arrangements.

Furthermore, this work discusses in what way Dutch law should be amended in order to facilitate collective security arrangements in a proper way. Angelique Thiele studied Dutch, European and English law at the Catholic University of Nijmegen and at Essex University. She was admitted to the Amsterdam bar in 1995 and practices banking and financial law in the Amsterdam office Allen & Overy. She specialises in secured lending, corporate finance and structured finance.