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Vol 23 No 3 March/April 2018

Book of the Month

Cover of Scamell and Gasztowicz on Land Covenants

Scamell and Gasztowicz on Land Covenants

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Collective Security Arrangements: A Comparative Study of Dutch, English and German Law

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ISBN13: 9789013008906
ISBN: 9013008909
Published: June 2003
Publisher: Kluwer Law International
Country of Publication: The Netherlands
Format: Hardback
Price: Out of print

This book contemplates the ways in which collective security arrangements may be made under Dutch, English and German law. Finance transactions involving groups of lenders have developed along with the need of corporate borrowers for substantial credit over longer periods of time. Leaving aside large corporate entities with a good credit rating, the group of borrowers able to borrow without giving any security is limited.

In finance transactions where repayment of the loan is principally dependant on the returns of the undertaking or assets financed, such as securitisations, repackagings, project finance and leveraged acquisition finance, maximum security over the assets concerned will normally be a prerequisite for finance. Where finance is extended by a group of lenders and security must be given for their loans, it is usual to make a collective security arrangement for the benefit of all lenders involved.

This book discusses how collective security arrangements can be set up effectively and in the most efficient way. It aims to offer practical solutions for the legal issues that arise in the context of these arrangements. Furthermore, this work discusses in what way Dutch law should be amended in order to facilitate collective security arrangements in a proper way.

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Commercial Law