
Remedies under Security Interests
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This highly serviceable book provides the essential details of such knowledge for fourteen important commercial jurisdictions: Argentina, Belgium, Bermuda, Canada, Germany, India, Japan, Portugal, Spain, Sweden, Switzerland, Turkey, England and Wales (United Kingdom), and the United States of America. Each country survey is presented by an experienced business law practitioner in his or her particular jurisdiction. Each chapter's coverage includes discussion of remedies under such security interests as the following:
- real estate;
- fixtures;
- movables;
- patents;
- trademarks; and
- industrial models and designs.
Each author also explains important procedural aspects of many typical phases of ownership, including registration, transfer, sale of an ongoing concern or stock in trade, taxation, trusteeship, and injunction orders. Remedies under private international law are also considered.
For the rapidly growing group of businesses and private parties with assets in more than one country, this is a very handy volume, highly useful and not overburdened with unnecessary detail. It more than adequately supplies a vital need.
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Content
- Cover
- Half Title Page
- Title Page
- Copyright Page
- Remedies under Security Interests
- International Bar Association The Global Voice of the Legal Profession
- Disclaimer
- Table of Contents
- List of Contributors
- Chapter One Security Interests under Argentine Law
- I. LIST OF PROPERTIES THAT MAY BE OWNED BY A BUSINESS UNDER ARGENTINE LAW
- 1. Property Rights to Tangible Assets
- 2. Intangible Assets
- II. INTRODUCTION TO SECURITY INTERESTS - GENERAL PRINCIPLES AND CLASSIFICATION
- 1. Personal Sureties
- Security Rights In Rem
- 2. Personal Sureties
- 3. Security Interests In Rem
- 4. Right of Withholding ("Derecho de Retención")
- 5. Trusteeship
- 6. Institutional Guarantees (Self-liquidated)
- 7. Warrants
- 8. Private International Law
- 9. Language
- CLOSING REMARKS/CONCLUSIONS
- BIBLIOGRAPHY
- Chapter Two Security Interests under Belgian Law: Assets which can be Encumbered
- Attachment and Perfection
- I. REVIEW OF THE VARIOUS TYPES OF SECURITY INTERESTS WHICH CAN BE CREATED UNDER BELGIAN LAW
- A. Real Estate
- B. Movables
- II. PROCEDURE TO BE FOLLOWED IN CASE OF DEFAULT OF THE DEBTOR
- A. Procedure Available in the Case of a Mortgage
- B. Procedure Available in the Case of a Pledge
- BIBLIOGRAPHY
- Chapter Three Remedies under Security Interests (Bermuda)
- INTRODUCTION
- 1. TYPES OF SECURITY INTERESTS
- (a) Real Property
- (b) Personal Property
- 2. RIGHTS OF FOREIGN CREDITORS
- 3. ENFORCEMENT OF CLAIMS BY SECURED CREDITORS
- (a) Real Property
- (b) Personal Property
- (c) General Limitations on Enforcement
- (d) Enforcetnent Mechanistns
- 4. ATTACHMENT REMEDIES AVAILABLE TO UNSECURED CREDITORS
- (a) Judicial
- (b) Pre-judgment Attachment
- CONCLUSION
- Chapter Four Remedies under Security Interests in Canada: An Overview
- PART I - THE PERSONAL PROPERTY SECURITY ACT
- History of the Legislation
- Scope of the PPSA
- Categories of Collateral
- Definition of Debtor
- Attachment
- After-acquired Property
- Purchase Money Security Interests
- Proceeds
- Fixtures
- Chattel Leases
- Consumer Goods
- Priorities
- PART II - INTELLECTUAL PROPERTY
- Patents
- Copyrights
- Trademarks
- Registration under the PPSA v. Federal Legislation
- Priorities between Federal and Provincial Legislation
- PART III - SECURITY UNDER SECTION 427 OF THE BANK ACT
- Banks
- Specific Classes of Borrowers
- Specific Collateral
- Registration Pursuant to the Bank Act
- Registration under the PPSA v. the Bank Act
- Priorities between Federal and Provincial Legislation
- PART IV - BANKRUPTCY AND INSOLVENCY REMEDIES
- Introduction
- Reorganization Proceedings
- Interim Receivers
- PART V - RIGHTS AND REMEDIES ON DEFAULT
- Code of Enforcement
- Common Law and Equitable Doctrines in the PPSA
- The Requirement of Good Faith and Acting in a Commercially Reasonable Manner
- Consequences of Non-compliance
- The Application of the Federal BIA
- Choice of Remedies
- PART VI - ENFORCING SECURITY AGAINST REAL PROPERTY
- Application of the Federal Bankruptcy and Insolvency Act to Realization on Land
- Relationship of Real Property to the Personal Property Security Acts
- Realizing on Real Property - Practice and Procedure
- Foreclosure Proceedings
- Power of Sale
- PART VII - CONCLUSION
- BIBLIOGRAPHY
- Chapter Five Secured Transactions and Remedies (Germany)
- 1. PROPERTY AND THE MEANS OF PROVIDING SECURITY FOR DEBT
- 1.1. Real Property, including Rents and Other Income
- 1.2. Fixtures
- 1.3. Accounts Receivable
- 1.4. General Intangibles (Patents, Trademarks, Choses in Action and Goodwill)
- 1.5. Contract Rights
- 1.6. Insurance Policies and the Proceeds Thereof
- 1. 7. Inventory
- 1.8. Machinery and Equipment
- 1.9. Motor Vehicles
- 1.10. Securities (e.g. Stock or Partnership Interests)
- 1.11. Promissory Notes and Other Instruments of Indebtedness
- 1.12. Proceeds from Any or All of the Foregoing
- 2. EXPLANATION OF SECURED TRANSACTIONS UNDER GERMAN LAW
- 2.1. Preliminary Remarks on German Law
- 2.2. Security Interests in Land
- 2.3. Security Interests in Personal Property
- 2.4. Rights and Claims Serving as Security
- 2.5. Contestability of Security Interests
- 3. CASES INVOLVING FOREIGN COUNTRIES
- 3.1. Security Interests in Real Property in Germany
- 3.2. Security Interests in Personal Property
- 3.3. Security Interests in Claims and Other Rights
- 4. CONCLUDING REMARKS
- BIBLIOGRAPHY
- Chapter Six Remedies under Security Interests (India)
- 1. INDIAN LEGAL REGIME
- 2. LENDER'S LIEN
- 3. BANKER'S LIEN
- 4. PLEDGE
- 5. HYPOTHECATION OF MOVABLES
- 6. A CHARGE ON RECEIVABLES
- 7. REAL ESTATE
- 8. INDEMNITY AND GUARANTEE
- 9. GOVERNMENT GUARANTEES
- 10. ASSIGNMENT OF ACTIONABLE CLAIM/DEBTS/INSURANCE POLICIES
- 11. CASH COLLATERALS
- 12. NEGOTIABLE SECURITIES
- 13. STATUTORY STAMPING OF LOAN DOCUMENTS
- 14. REGISTRATION OF DOCUMENTS
- 15. COMPLIANCE WITH THE COMPANIES ACT, 1956
- 16. SPECIALISED FINANCIAL INSTITUTIONS
- 18. ESTABLISHMENT OF DEBTS RECOVERY TRIBUNAL
- 19. LAW OF LIMITATION
- 20. GENERAL INTANGIBLES
- 21. WINDING UP OF THE COMPANYIINSOLVENCY OF THE BORROWER
- Company's Inability to Pay Debts
- Proof and Ranking of Debts
- Provincial Insolvency Act, 1920
- Presidency Towns Insolvency Act, 1909
- Sick Industrial Companies (Special Provisions) Act, 1985
- 22. ARBITRATION
- 23. SECURITISATION
- CONCLUSION
- ADDENDUM: THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY ORDINANCE, 2002
- BIBLIOGRAPHY
- Chapter Seven Remedies Under Security Interests (Japan)
- 1. TWO TYPES OF SECURITY INTERESTS
- 2. PERSONAL SECURITY
- 3. REAL SECURITY
- Mortgage
- Base-mortgage
- Pledge
- Right of Retention
- Preferential Right
- Title Transfer Security
- Preliminary Registration Security
- 4. PERFECTION OF REAL SECURITIES
- Mortgage/Base-mortgage
- Pledge
- Right of Retention
- Preferential Right
- Title Transfer Security
- Preliminary Registration Security
- 5. PROPERTIES ADMITTED UNDER JAPANESE LAW AND REAL SECURITIES CREATED OVER THEM
- Immovables (fudosan)
- Movables (dosan)
- Intellectual Property (chiteki zaisan)
- Credits (saiken)
- Stocks(kabushiki)
- SUMMARY
- BIBLIOGRAPHY
- Chapter Eight Remedies under Security Interests (Portugal)
- I. LIST OF PROPERTIES THAT MAY BE OWNED BY A BUSINESS UNDER PORTUGUESE LAW
- I.1. Intangible Assets
- I.2. Tangible Assets
- I.3. Permanent Financial Investments
- I.4. Debtors
- I.5. Treasury
- II. GENERAL SCHEME ON THE TYPE OF ENCUMBRANCES UNDER PORTUGUESE LAW
- II.1. General Guarantee of Enforcement of Credit (Garantia Geral)
- II.2. Provision of Bail (Prestação de caução)
- II.3. Autonomous Guarantee (Garantia autonoma)
- II.4. Personal Guarantees (Garantias pessoais)
- II.5. Real Estate Securities (Garantias reais)
- III. DEFINITION OF THE ENCUMBRANCES WHICH MIGHT BE PLACED UPON SOME BUSINESS ASSETS
- III.1 Judicial Inventory of Property and other Belongings
- III.2. Provision of Bail
- III.3. Autonomous Guarantee
- III.4. Personal Guarantees
- III.5. Real Estate Securities
- IV. GENERAL SCHEME OF BUSINESS ASSETS AND POSSIBLE ENCUMBRANCES WHICH MAY BE PLACED UPON THEM
- V. ESSENTIAL REQUIREMENTS FOR THE PERFECTION OF THE MOST SIGNIFICANT ENCUMBRANCES
- V.1. Anticrese
- V.2. Pledge
- V.3. Mortgage
- V.4. Arrest/Seizure (Arresto/Penhora)
- CONCLUSION
- BIBLIOGRAPHY
- Chapter Nine Remedies under Securities Interests in Spain
- I. LIST OF PROPERTIES WHICH MIGHT BE OWNED BY BUSINESS UNDER SPANISH LAW
- I.1. Fixed and other Non-current Assets
- I.2. Tangible Assets
- I.3. Permanent Financial Investments
- I.4. Current Assets
- I.5. Debtors
- I.6. Treasury
- II. GENERAL SCHEME ON THE TYPE OF ENCUMBRANCES EXISTING UNDER SPANISH LAW
- II.1. Encumbrances on Personal Properties
- II.2. Encumbrances on Real Estate Properties
- III. DEFINITION OF THE ENCUMBRANCES WHICH MIGHT BE PLACED UPON SOME BUSINESS ASSETS
- III.1. Fiducia
- III.2. Purchase with a Buy-back Provision
- III.3. Reserve of Title on the Sale on Instahnents of Movable Assets
- III.4. Anticresis
- III.5. Pledge
- III.6. Mortgages
- III.7. Warrant
- IV. GENERAL SCHEME OF BUSINESS ASSETS AND POSSIBLE ENCUMBRANCES WHICH MAY BE PLACED UPON THEM
- V. ESSENTIAL REQUIREMENTS FOR THE PERFECTION OF THE MOST SIGNIFICANT ENCUMBRANCES
- V.2. Mortgage
- VI. EXECUTION OF ENCUMBRANCES
- VI.1. Pledge
- VI.2. Mortgage
- CONCLUSION
- BIBLIOGRAPHY
- Chapter Ten Security Interests under Swedish Law
- 1. GENERAL REMARKS
- 2. TYPES OF ENCUMBRANCES EXISTING UNDER SWEDISH LAW
- 2.1. Encumbrances on the Real Property, Ships and Aircraft of a Business
- 2.2. Encumbrances on the Individualised Personal Property of a Business
- 2.3. Encumbrances on the Non-individualised Personal Property of a Business
- 3. GENERAL SCHEME OF BUSINESS ASSETS AND POSSIBLE ENCUMBRANCES WHICH MAY BE PLACED UPON THEM
- 4. THE RIGHT OF PRIORITY ACT
- 5. SECURED CLAIMS AND ENFORCEMENT
- 6. UNSECURED CLAIMS AND ENFORCEMENT
- 7. CONCLUSION
- BIBLIOGRAPHY
- Chapter Eleven Remedies under Security Interests (Switzerland)
- A. INTRODUCTION
- B. CHATTEL PLEDGE (PROPERTY AND CLAIMS)
- I. General
- II. Pledge of Movable Property
- III. Pledge of Claims and Other Rights
- IV. Rights of Retention
- C. REAL ESTATE SECURITY INTEREST
- I. General
- II. Establishment and Expiry of Real Estate Security Interests
- III. Assets Subject to Real Estate Security Interests
- IV. Formalities
- D. ENFORCEMENT OF PLEDGED ASSETS AND MORTGAGED LAND
- I. General
- II. Payment Order
- III. Court Proceedings
- IV. Realization Procedures
- E. CONCLUSION
- BIBLIOGRAPHY
- Chapter Twelve Security Interests under Turkish Law
- 1. INTRODUCTION
- 2. MORTGAGE
- 2.1. Definition
- 2.2. Subject
- 2.3. General Principles
- 2.4. Scope
- 2.S. Types
- 3. PLEDGE
- 3.1. Definition
- 3.2. Principles
- 3.3. Types
- 4. CONCLUSION
- BIBLIOGRAPHY
- Chapter Thirteen Remedies under Security Interests in England and Wales (United Kingdom)
- 1. INTRODUCTION
- 1.1. Overview
- 1.2. Terminology
- 1.3. Assumptions
- 1.4. Methodology
- 2. REAL ESTATE
- 2.1 Creation
- 2.2. Remedies
- 3. RECEIVABLES
- 3.1. Creation
- 3.2. Remedies
- 4. LIFE POLICIES
- 4.1. Creation
- 4.2. Remedies
- 5. STOCKS AND SHARES
- 5.1. Creation
- 5.2. Retnedies
- 6. GOODS, CHATTELS AND INVENTORY ("GOODS")
- 6.1. Creation
- 6.2. Remedies
- 7. SHIPS
- 7.1. Creation
- 7 .2. Remedies
- 8. AIRCRAFT
- 8.1. CreationIn contrast to ships
- 8.2. Remedies
- 9. DEBENTURE
- 9.1. Creation
- 9.2. Remedies
- CONCLUSION
- BIBLIOGRAPHY
- Chapter Fourteen Security Interests under the Laws of the United States of America
- INTRODUCTION
- PERSONAL PROPERTY: ARTICLE 9
- Parties
- Excluded Collateral
- Included Collateral
- Attachment
- REAL PROPERTY
- State Law
- Lien or Title Theory
- Types of Financing Devices
- Foreclosure
- RIGHTS OF SECURED CREDITOR IN BANKRUPTCY
- Liquidation and Reorganization
- TreatInent of Secured Claims, Section 506
- Adequate Protection, Section 361
- Sale, Use, or Lease by Trustee, Section 363
- Trustee's Avoiding Powers, Section 544
- Preferential Transfers, Section 547
- Fraudulent Conveyances, Section 548
- Abandonment, Section 554
- Plan of Reorganization or Liquidation under Chapter 11
- CONCLUSION
- BIBLIOGRAPHY
- Index
- The International Bar Association Series
- Back Cover
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