Part V Enforcement, 18 Enforcement of True Security Interests
Hugh Beale, Michael Bridge, Louise Gullifer, Eva Lomnicka
- Financial collateral — Pledge — Lien — Mortgage — Security interest
18.01 A number of general issues arise in connection with the enforcement of true security interests that will be taken before particular enforcement issues are dealt with under the relevant head.1 True security interests consist of the four nominate types of security recognized in English law,2 namely, the three consensual securities of pledge, mortgage, and charge, together with the non-consensual lien. 18.02 The obligation of a secured party to account for any surplus obtained is implicit in the nature of security. In the case of a pledge, the pledgee does not...