Experts of Interlegal have consulted the European bank upon peculiarities of the pledge of goods in turnover at the territory of Ukraine

One of the largest European banks applied to Interlegal in order to settle the pledge of goods in turnover in compliance with the Ukrainian legislation, the concerned risks and mechanisms of risk decreasing for the Bank.

The Bank treated the pledge of goods as one of mechanisms securing fulfillment of the borrower’s obligations upon loan return.

Experts of Interlegal prepared a complex legal opinion which considered the issues of the pledge of goods in turnover pursuant to the law, peculiarities of pledge registration in the Register of Movable Property Encumbrances and certain issues of making the pledge agreement.

On the grounds of their large experience in this industry, experts of Interlegal offered practical mechanisms facilitating the control over shipment of the pledged goods by the Bank.

In particular, experts of Interlegal developed a detailed step-by-step scheme of the control over changing the subject of pledge and disposal of the pledged goods in case of the borrower’s default. They also developed the draft pledge agreement providing the opportunity of enforcing recovery on the pledged goods both by court and pretrial settlement.