Guide to taking security in Guernsey
Insolvency is a major commercial risk. Prudent creditors are able to protect themselves against the potential risk of a debtor’s insolvency by taking security, thereby obtaining priority over other creditors.
This guide provides an overview of the process of taking security and enforcing security over Guernsey assets that will be subject to the laws of Guernsey.
It focuses on the legislative and regulatory framework for taking of security over real (or ‘immovable’) and personal (or ‘movable’) property, the methods by which a creditor may register a charge, the rights of foreign creditors and enforcement of claims by secured creditors in Guernsey. Also discussed are the methods by which a creditor may enforce security granted pursuant to an instrument governed by a law other than that of Guernsey…
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