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Post-Insolvency Working Capital and the Moveable Transactions (Scotland) Act 2023
Dr Hamish A. Patrick, Finance & Restructuring Partner, and Fiona McKerrell, Head of Restructuring & Business Advisory, Shepherd and Wedderburn LLP, London & Glasgow, UKSummary
– The new Scottish moveable transactions regime will create more effective commercial secured funding from late 2024 that will reduce the current excess (relative to England) of floating charge assets
– Post-insolvency assets are intended to be protected from potentially over-strong assignation and pledge under the new Scottish regimes so as to protect trading insolvencies
– But what is a post-insolvency asset
– And what should be an 'insolvency' that triggers protection of those assets without prejudicing the more effective secured funding intended by the reforms
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