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McKnight and Zakrzewski on The Law of Loan Agreements and Syndicated Lending edited by Zakrzewski, Rafal; Fuller, Geoffrey

4 Loan Transfers

Rafal Zakrzewski, Geoffrey Fuller

From: McKnight and Zakrzewski on The Law of Loan Agreements and Syndicated Lending

Edited By: Rafal Zakrzewski, Geoffrey Fuller

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 12 December 2019

Subject(s):
Banks as a lender — Lending and credit — Debt — Money and the conflict of laws — Netting by novation — Set-off

This chapter deals with loan transfers, beginning with an overview of the reasons for a loan transfer, benefits to the transferee, and effectiveness of the transfer. It then discusses two important preliminary issues that need to be taken into consideration before the transaction can commence, namely: matters concerned with conflict of laws issues, and matters relating to a banker’s duty of confidence concerning its customer’s affairs. It also describes the methods that are available under English law for a debt to be transferred and the consequences of those methods. The declaration of trust as a means in equity to alienate a right under a contract, such as a debt or other chose in action, is analysed as well. Finally, the chapter explores novation and sub-participation arrangements, along with issues in relation to assignments that are of relevance to declarations of trust (eg, rights v obligations, debtor’s rights of set-off, priorities).

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