Accessing Practical Law Finance's security and quasi security resources

This note acts as a guide to Practical Law Finance's resources on the different types of security (mortgages, charges, pledges and liens) and quasi security (such as retention of title, factoring and finance leasing). It highlights resources on how to take security over various assets, how to perfect security, the priority of security, how to release security and how to enforce security.

As well as links to Practical Law Finance's security and quasi security standard documents, drafting notes, practice notes and checklists, this note links to resources relevant to security from other Practical Law services such as Practical Law Cross-border and Practical Law Environment.

Contents

Introduction

This note acts as a guide to Practical Law Finance's resources on security and quasi security arrangements such as mortgages ( www.practicallaw.com/8-107-6863) , charges ( www.practicallaw.com/2-107-5890) , factoring ( www.practicallaw.com/2-107-5734) and negative pledges ( www.practicallaw.com/2-107-6875) .

 

Taking security

 

Types of security

Mortgage

Charge

Fixed charge

For information on taking a fixed charge, see Practice note, Taking security: Fixed charge ( www.practicallaw.com/2-107-4032) .

Floating charge

For information on taking a floating charge, see Practice note, Taking security: Floating charge ( www.practicallaw.com/2-107-4032) .

Pledge

Lien

 

Security over particular assets

Cash deposits

For information on the various ways of taking security or quasi security over cash deposits, see Practice note, Taking security over cash deposits ( www.practicallaw.com/8-201-9254) .

Chattels

For information on using goods or chattels ( www.practicallaw.com/5-382-5591) owned by companies to provide security for financing, see Practice note, Taking security over chattels ( www.practicallaw.com/4-200-4396) .

Choses in action

For information on taking a security interest over choses in action ( www.practicallaw.com/2-107-5828) (assets which can only be claimed or enforced by action at law or equity, such as a debt or a benefit under a contract, as distinct from taking physical possession of the asset), see Practice note, Taking security over choses in action ( www.practicallaw.com/4-201-9675) .

Shares and debt securities

For information on the legal nature of shares and debt securities (such as bearer bonds, bearer stock, registered shares, registered notes and debt or shares held in a clearing system) and the different ways of taking security over them, see Practice note, Taking security over shares and debt securities ( www.practicallaw.com/8-200-4403) .

For a toolkit of key issues to consider in relation to security over shares that identifies Practical Law materials that give guidance on key issues that need to be considered when taking, perfecting, enforcing or releasing security over shares, see Toolkit, Security over shares ( www.practicallaw.com/3-544-5429) .

Intellectual property

For information on taking security over intellectual property ( www.practicallaw.com/9-107-7541) , including patents ( www.practicallaw.com/0-107-6980) , trade marks ( www.practicallaw.com/6-107-7401) , copyright ( www.practicallaw.com/9-107-5995) and design rights, see Practice note, Taking security over intellectual property ( www.practicallaw.com/2-202-0175) .

Land

Agricultural charges

For information on the specific characteristics of agricultural charges and the issues to consider when dealing with assets secured by them, see Practice note, Agricultural charges under the Agricultural Credits Act 1928 ( www.practicallaw.com/2-523-3338) .

 

Perfection and priority of security

General

For a quick guide to perfecting security, see Quick guide, Perfecting security ( www.practicallaw.com/2-589-8416) .

For a quick guide to priority of security, see Quick guide, Priority of security ( www.practicallaw.com/1-596-5246) .

For an introduction to the different methods of perfecting security, the basic rules governing priority and contractual ways in which the rules can be varied, see Practice note, Perfection and priority of security ( www.practicallaw.com/6-107-5015) .

Registration

Subordination

For a note that examines the legal background and case law relating to subordination ( www.practicallaw.com/3-107-7332) of debt and analyses different methods used to alter the priority of debts, see Practice note, Subordination ( www.practicallaw.com/7-242-0147) .

Intercreditor agreements

For an explanation of the nature and purpose of an intercreditor deed ( www.practicallaw.com/1-107-6282) , see Practice note, Intercreditor deeds: overview ( www.practicallaw.com/5-107-4035) .

 

Transferring security

For a note describing the practicalities of, and issues to consider when, transferring security interests such as mortgages or charges from one lender to another, see Practice note, Transferring security interests ( www.practicallaw.com/6-522-5510) .

 

Amending security

For a note looking at some of the issues to consider when amending a security document, see Practice note, Amending a security document ( www.practicallaw.com/8-520-1320) .

 

Releasing security

For a note describing the practicalities of releasing a mortgage or charge that has been given by a security provider over its property, assets and undertaking to a lender under a security agreement, see Practice note, Releasing security ( www.practicallaw.com/1-519-3502) , and for a checklist of issues to consider when releasing security, see Checklist, Releasing security created by an English company ( www.practicallaw.com/8-563-9726) .

 

Enforcing security

 

Cross-border security

 

Third party security

For a toolkit containing links to Practical Law materials on third party security, see Toolkit, Third party security ( www.practicallaw.com/8-584-6245) .

 

Security trusts

For an introduction to the function of security trusts and the role of security trustees in finance transactions, see Practice note, Security trusts in finance transactions: overview ( www.practicallaw.com/7-519-6017) .

For an overview of the nature and purpose of a security trust deed in multi-party lending transactions, including a description of the key provisions of such a document and an explanation of practical issues to consider when drafting or advising on their use, Practice note, Security trust deeds: overview ( www.practicallaw.com/6-521-4583) .

 

Quasi security

General

For a note on quasi security arrangements such as negative pledges, retention of title ( www.practicallaw.com/8-107-7160) , set-off ( www.practicallaw.com/4-107-7242) , netting ( www.practicallaw.com/4-500-5892) arrangements, factoring ( www.practicallaw.com/2-107-5734) , invoice discounting ( www.practicallaw.com/6-107-7552) and finance leases ( www.practicallaw.com/0-107-5749) , see Practice note, Quasi-security: overview ( www.practicallaw.com/0-520-7302) .

Negative pledge

For an overview of negative pledges, see Practice note, Perfection and priority of security: Negative pledges ( www.practicallaw.com/6-107-5015) .

Retention of title

For an overview of retention of title arrangements, see Practice note, Retention of title ( www.practicallaw.com/3-107-4003) .

Set-off

For an overview of set-off in finance transactions, see Practice note, Set-off in finance transactions ( www.practicallaw.com/5-264-7953) .

Factoring and invoice discounting

For an overview of factoring and invoice discounting, see Practice note, Factoring and invoice discounting ( www.practicallaw.com/0-201-5981) .

Finance leases

For an overview of leasing as a financing technique, see Practice note, Leasing as a financing technique: overview ( www.practicallaw.com/1-202-1444) .

 

Guarantees and indemnities

 

Insolvency

The potential implications of insolvency law should be recognised when advising on security transactions. The following resources provide an overview of various insolvency procedures.

General

For an overview of Practical Law Finance's resources on restructuring and insolvency, see Practice note, Accessing Practical Law Finance's restructuring and insolvency resources ( www.practicallaw.com/4-500-4656) .

Insolvency procedures

Restructurings

Security and quasi security issues often arise in transactions involving the restructuring ( www.practicallaw.com/1-384-6171) of debt. For a note that looks at the key stages involved in restructuring corporate debt, see Practice note, Corporate debt restructuring: step by step ( www.practicallaw.com/7-201-5534) .

Cross-border restructuring and insolvency

 

Legal opinions in security transactions

For an overview of the matters to be considered when requesting or responding to a request for an English legal opinion in a transaction involving the giving of security, see Practice note, Legal opinions in finance transactions: overview ( www.practicallaw.com/6-201-7053) .

 

Execution of security documents

 

Links to Practical Law resources on security

Practical Law Finance resources on security

Links to Practical Law Finance resources on security:

Related Practical Law resources

Links to Practical Law services covering key practice areas relevant to taking security:


Useful links

Practical Law search function

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