Three Steps Forward, Two Steps Back: A View from Corporate Security Practice of the Moveable Transactions (Scotland) Bill
Author | |
DOI | 10.3366/elr.2018.0485 |
Published date | 01 May 2018 |
Date | 01 May 2018 |
Pages | 266-273 |
The Scottish Law Commission (the “SLC”) published a draft Moveable Transactions (Scotland) Bill on 13 July 2017.
The Bill proposes general amendments to Scots moveable property law.
Until the Bill is implemented, fixed security over moveable property
The Bill provides for non-possessory security over certain moveable property: it will be possible to pledge corporeal moveable property, financial instruments and intellectual property
The Bill provides that assets may be subject to multiple statutory pledges.
The Bill also provides for partial assignations
The Bill provides that the secured creditor can appoint insolvency practitioners to statutorily pledged subjects.
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