Enforcement of Security & Collateral

A security interest is only as good as the process for realising it. Vietnamese law gives secured creditors real rights, but those rights depend on registration having been done correctly and on following the prescribed steps when default occurs.

Wise Counsel advises banks, finance companies and secured lenders on enforcing mortgages, pledges and guarantees, and represents borrowers and guarantors resisting enforcement.

What we help with

• Reviewing the validity and registration of the security before enforcement begins
• Advising on default, acceleration and notice requirements under the security documents
• Out-of-court realisation of mortgaged and pledged assets
• Enforcement against real estate, including land use rights and assets attached to land
• Enforcement against shares, receivables, inventory and bank accounts
• Calling on guarantees, standby letters of credit and performance bonds
• Disputes over priority between competing secured and unsecured creditors
• Resisting enforcement on grounds of invalid security or procedural defect
• Enforcement where the borrower has entered insolvency proceedings

Most enforcement problems trace back to how the security was documented and registered at the outset. We review portfolios before default, not only after it.