Marshalling — a remedy for the 21st century?
By Charlotte Drake
Marshalling cases are rare these days. Therefore, it is notable that two separate cases were heard in the appeal courts in 2013: Szepietowski v The National Crime Agency (formerly the Serious Organised Crime Agency) and Highbury Pension Fund Management Company and another v Zirfin Investments Management Ltd and others. This article explains why marshalling might affect a secured creditor’s position and the significance of these recent cases.
Marshalling is an equitable principle that aims to prevent one secured creditor arbitrarily depriving another secured creditor of his only security. Traditionally, it applies where the same debtor owes debts to two secured creditors.
It is easiest to show how marshalling works with an example…
Click on the link below to read the rest of the Dentons briefing.
News from Dentons
News from The Lawyer
Briefings from Dentons
In this article, Dentons looks at the changes at the federal level and those at the St Petersburg and Leningrad Oblast level.
Financial Regulatory Developments — ESAs publish joint work programme; ESMA speaks on PRIIPs and MiFID 2; and more
Dentons has released the 17 October 2014 issue of its Financial Regulatory Developments (FReD) publication.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
The continent’s boom in natural resources and renewable energy is sparking an infrastructure drive