Enforcement of Jersey Security

The secured lending market is very familiar with structures involving Jersey entities, including companies, limited partnerships and unit trusts to name but a few. Jersey continues to be a popular and commercially attractive jurisdiction in which to establish asset-holding structures. One of the reasons for Jersey’s popularity as a jurisdiction for establishing such holding structures is that the Security Interests (Jersey) Law 2012 (“SIL”) provides lenders with a modern, efficient and creditor friendly regime for taking and enforcing security over the Jersey situate assets of those structures (namely the shares in Jersey companies, units in Jersey unit trusts, Jersey deposit accounts, Jersey securities accounts and Jersey contract rights). This note looks at the process of enforcing security interests created under SIL as well as some practical considerations for those planning or taking enforcement steps.

 

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JERSEY
Alexandra CornerPartnerT +44 (0) 1534 700 778alexandra.corner@walkersglobal.com
Nigel WestonPartnerT +44 (0)1534 700 788nigel.weston@walkersglobal.com
Fraser HernGroup Partner*T +44 (0) 1534 700 780fraser.hern@walkersglobal.com
Tristan MaultbySenior CounselT +44 (0) 1534 700 754tristan.maultby@walkersglobal.com
Daniel ReadSenior CounselT +44 (0) 1534 700 764daniel.read@walkersglobal.com