Deloitte Legal Guide to Cross-Border Secured Transactions
In a globalized world, many companies engage daily in cross-border commercial transactions. The Deloitte Legal Guide to Secured Transactions includes country-specific information provided by local lawyers and is intended to be a useful tool for creditors and security providers tackling complex issues relevant to cross-border secured transactions.
In a globalized world, many companies engage daily in cross-border commercial transactions. This requires dealings to be structured in a manner that suitably manages risk. As this is commonly achieved via security agreements, familiarity with the specifics of cross-border taking and enforcing of security in various jurisdictions can help companies safely conduct businesses outside their home countries.
To do this, companies need current, easy-to-use information relative to secured transactions in the jurisdictions where they do business. As a result, the Deloitte Legal Guide to Secured Transactions was produced by legal practices of the Deloitte Touche Tohmatsu Limited member firms from 27 jurisdictions* across Europe, South America and South-East Asia. It was prepared based on research carried out during 2012-2013 in each of these jurisdictions, and includes country-specific information provided by local lawyers.
Topics covered for each jurisdiction include:
· Types of security available
· Types of assets subject to security
· Types of obligations that may be secured
· Validity, publicity and other perfection requirements
· Costs of set up and publicity of security
· Timing for publicity/ perfection requirements
· Rights acquired by the secured creditor
· Governing law issues
· Legal concerns when taking security
· Enforcement issues: court involvement, timing,
· Challenges and cancellation risks
· Secured creditor’s position in insolvency
Also included are highlights and recommendations from the drafters, followed by detailed information for each of the jurisdictions surveyed.
Legal services in Cyprus are provided by Hadjianastassiou, Ioannides LLC.
Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited member firms or their affiliates that provide legal services. For regulatory, legal, and other reasons, not all member firms provide legal services.
Hadjianastassiou, Ioannides LLC is a private lawyers’ limited liability company registered in Cyprus (Reg. No. HE227297), regulated by the Cyprus Legal Council and the Cyprus Bar Association (www.cyprusbarassociation.org) (CBA Reg. no. 22). It is the sole member in Cyprus of the Deloitte Legal network of law firms.