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Enforcement of Guernsey Security

May 14, 2020

Advisory
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key takeaways

  • There are a number of pre-enforcement steps that a secured party can take to better protect its position prior to commencing formal enforcement under the law or as a means of encouraging  the security provider to discuss consensual restructuring or negotiated settlement.

  • The law sets out certain requirements as to when formal enforcement can be commenced, the methods of enforcement, the duties of a secured party in enforcing and how any realised proceeds must be applied.  

  • There are methods of managing the risks to enforcement posed by the insolvency of the security provider, non-compliance by counterparties and challenges to collateral valuations.

The secured lending market is very familiar with structures involving Guernsey entities, including companies, limited partnerships and unit trusts to name but a few. Guernsey continues to be a popular and commercially attractive jurisdiction in which to establish investment funds, insurance and re-insurance structures as well as real estate and general asset-holding structures. These structures and entities are often involved in secured finance transactions. This advisory looks at the process of enforcing security interests created under the SIL as well as some practical considerations for those planning or taking enforcement steps in Guernsey.

View full advisory.

Authors

Zoe Hallam

Zoë Hallam

Group Partner/Guernsey

T/+44 (0) 1481 748 920
M/+44 (0) 7781 176 054
E/Email Zoë Hallam
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Kim Paiva

Kim Paiva

Group Partner/Guernsey

T/+44 (0) 1481 748 906
M/+44 (0) 7781 134 219
E/Email Kim Paiva
More articles from this author View profile
Sarah Brehaut

Sarah Brehaut

Partner/Guernsey

T/+44 (0) 1481 748 930
M/+44 (0) 7781 142 204
E/Email Sarah Brehaut
More articles from this author View profile
Adam Cole

Adam Cole

Partner/Guernsey

T/+44 (0) 1481 748 912
M/+44 (0) 7911 745 812
E/Email Adam Cole
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KEY CONTACTS

Get in touch with our team

Zoë Hallam
Zoe Hallam

Zoë Hallam

Group Partner

Guernsey

T

+44 (0) 1481 748 920

M

+44 (0) 7781 176 054

E

Email Zoë Hallam
View profile
Kim Paiva
Kim Paiva

Kim Paiva

Group Partner

Guernsey

T

+44 (0) 1481 748 906

M

+44 (0) 7781 134 219

E

Email Kim Paiva
View profile
Sarah Brehaut
Sarah Brehaut

Sarah Brehaut

Partner

Guernsey

T

+44 (0) 1481 748 930

M

+44 (0) 7781 142 204

E

Email Sarah Brehaut
View profile
Adam Cole
Adam Cole

Adam Cole

Partner

Guernsey

T

+44 (0) 1481 748 912

M

+44 (0) 7911 745 812

E

Email Adam Cole
View profile
Alex Wickens
Alex Wickens

Alex Wickens

Group Partner*

Guernsey

T

+44 (0) 1481 758 954

M

+44 (0) 7911 145 107

E

Email Alex Wickens
View profile

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