Secured Finance Transactions: Taking Security, Deal Structures and Emerging Markets, Second Edition

Secured finance transactions are implemented the world over between companies, banks, funds and individuals. They form, and have formed for centuries, an integral part of the world of corporate finance. Yet there are many complexities that need to be considered and understood, including the intricate juxtaposition of laws, regulations, local custom and precedents governing such transactions; the many forms security interests take, and the varying effect these have on enforcement by the creditor of their rights under such security; the impact of which market the loan or other credit was obtained in on the manner in which security is implemented; and the jurisdictional differences in the laws and regulations applicable to such transactions. Secured Finance Transactions, Second Edition provides the legal practitioner, businessman and banker, student and interested observer, with a practical guide to important legal developments in the field of secured finance. It includes key coverage of: the taking of security interests over key business assets; the application of security in the context of a variety of different transaction types; and the characteristics of secured transactions in core emerging and developing markets. This second edition, with 23 chapters, brings together experts on the topic and expands further on the work in the first edition in covering the types of collateral used as security, the variety of transaction types and geographical coverage in emerging markets. An invaluable manual for those already present or entering into the financing arena, this title is a critical support at a time of unprecedented international lending activity.

Table of Contents:
Introduction 7 Dominic Griffiths Mayer Brown Part 1. Taking security English law security interests 11 Dominic Griffiths Mayer Brown Receivables 23 Charles Thain Mayer Brown Inventory 37 Simon Fisher Mayer Brown Real estate 53 Andrew Hepner Mayer Brown Intellectual property 67 Mark Prinsley Mayer Brown Security interests in bank accounts under the UNCITRAL Model Law on Secured Transactions 79 Spyridon V Bazinas Lecturer, author and consultant Security interests in receivables under the UNCITRAL Model Law on Secured Transactions 105 Spyridon V Bazinas Lecturer, author and consultant Part 2. Secured financing structures Acquisition finance 119 Stuart Brinkworth Ignacio Mirasol Mayer Brown Asset-based lending 137 Alex Dell Mayer Brown Aircraft finance 153 Jane Man Richard Stock Mayer Brown Shipping finance 169 Bill Amos Maggie Cheung Conor Warde Mayer Brown Real estate finance 183 Charles Malpass Mayer Brown Fund finance 197 Aimee Sharman Mayer Brown Islamic finance 215 Barry Cosgrave Mayer Brown Project finance 229 Meredith Campanale Danuta de Vries Shri Maski Rachel Speight Mayer Brown Part 3. Emerging markets Emerging markets – general features 257 Ashley McDermott Mayer Brown Africa 269 Ian Coles Alban Dorin Mayer Brown Central and Eastern Europe 291 Claudia Chiper Robert David Przemek Kozdój Katerina Kraeva Wolf Theiss Latin America 305 Overview Maria Alevras-Chen Douglas A Doetsch Mayer Brown Brazil 306 Luis Otero Montes Tauil & Chequer Advogados Mexico 314 Jan R Boker Ariel Ramos Mayer Brown Colombia 322 Juan Pablo Moreno Mayer Brown Peru 328 Luis Schrader Mayer Brown Argentina 333 Pablo Gayol Cecilia Mairal Marval, O’Farrell & Mairal Gabriela Sakamoto Mayer Brown Chile 336 Loreto Ribera Carey y Cía Gabriela Sakamoto Mayer Brown Part 4. Additional features and developments Security trustees 341 Gary Silverman Mayer Brown Rescue financing: a US and UK comparison 355 Trevor Borthwick Matt Wargin Mayer Brown Intercreditor arrangements 369 Andrew Crotty Danister de Silva Mayer Brown Reform 383 Sarah Walters Mayer Brown About the authors 403