This two-day intensive course will cover all aspects of security documentation focusing on the anatomy of the security document itself and the legal ramifications of an incorrectly drafted document.
Starting with the reasons for taking security, delegates will be guided through the complete security process, from drafting and negotiating an effective security document, understanding enforcement, to challenges to security and crossborder issues. The course will also examine the specific issues at play when taking security across different assets.
This course will cover
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Why take security?
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Challenges to security
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Fixed and floating charge debentures
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Specific security
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Subordination, priorities and postponement
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Guarantees, indemnities and performance bonds
- Recent developments in legislation and case law
Who should attend?
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In-house lawyers in financial institutions
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Bankers concerned with the negotiation of loans
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Bank executives involved in the negotiation of security documents
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Lawyers in private practice who advise clients on security documents
- Corporate counsel
Day 1
Introduction
Some general principles
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Legal and equitable title
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Legal and equitable charges, assignments and mortgages
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Fixed and floating charges
Challenges to security
Anatomy of a security document (part 1)
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Deed or agreement
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Parties
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Definitions and interpretation
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Covenant to pay
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Charging clause
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Representations and warranties
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Covenants: positive and negative
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Insurance
Anatomy of a security document (part 2)
Debentures
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Fixed and floating charges revisited
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Charges over book debts; the spectrum decision
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Receivers and administrators
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Floating charges – disadvantages
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Key clauses and key issues
Security over land
Day 2
Security over land (continued)
Security over contracts
Security over cash deposits
Security over shares and other securities
Guarantees, indemnities and performance bonds
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Guarantees, indemnities and performance bonds distinguished
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Corporate guarantees – due diligence
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Challenges
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Key clauses and key issues
Syndicated lending
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Some general principles
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Who takes security?
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Drafting issues
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Cross-border issues
Cross-border issues
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Conflict of laws
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Conflicts – contractual issues
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Conflicts – proprietary issues (land)
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Conflicts – proprietary issues (goods)
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Conflicts – proprietary issues (intangibles)
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Insolvency
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Legal advice
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Enforcement
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Tim Walker
Tim Walker is a solicitor with over 20 years experience of international and domestic banking transactions, including syndicated loans and structured finance. He was a partner in the Banking Department at Norton Rose until 1995 and now continues to head a niche finance practice at Cheltenham based law firm Rickerbys. As well as secured lending transactions, Tim’s current practice includes equipment leasing and invoice discounting.
Tim is highly recommended as one of the leading experts in his field by Chambers independent legal directory.
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Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
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This course has now expired please email us to find out when the course will next be running.