Contributors: Andrew Kinnes, Hamish Patrick
Date published: 31 October 2023
Moveable transactions – Scotland v England: Round 1 – assigning receivables
KEY POINTS
- Restrictions on assigning, which are onerous for invoice financing, still work in Scotland unlike in England.
- There are still more post-insolvency assets in Scotland than England for insolvency practitioners as the Moveable Transactions (Scotland) Act 2023 contains restrictions on assigning rights following an assignor’s insolvency.
- There are pros and cons of publicity through the Scottish Register of Assignations.
- There are priority advantages from the Scottish Register of Assignations over England.
- Is Scotland moving ahead?
To learn more, read the full article here.
Hamish Patrick and Andrew Kinnes, Banking and Finance Partners at Shepherd and Wedderburn LLP, sat on the Advisory Group to the Scottish Law Commission’s Moveable Transactions Project from which the 2023 Act derives and remain actively involved in the implementation of the 2023 Act.
Contributors:
Andrew Kinnes
Partner
Hamish Patrick
Partner and Head of Financial Sector
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