Enforcing Security over Real Estate and Shares across Europe

We are delighted to present the CMS Guide to Enforcing Security over Real Estate and Shares across Europe. It is aimed primarily at investors in nonperforming loans that are secured against real estate but the points covered will apply equally to existing lenders and also to debtors.

This Guide considers the following in 24 different jurisdictions in Europe:

  • a secured lender’s main options for enforcing security over the real estate interest;
  • a secured lender’s main options for enforcing over shares in the owner of the real estate interest; and
  • the typical costs and timing of each option.

This Guide assumes that:

  • all security is valid;
  • all security is granted by companies incorporated in the relevant jurisdiction (or if incorporated elsewhere, the company can be made subject to any local insolvency or other enforcement proceeding, whether as a result of its ‘centre of main interest’ or COMI being in the relevant jurisdiction or otherwise); and
  • the debtor is in default under the applicable finance documents such that the security has become enforceable.

The information in this Guide is a summary and indicative only. It is not legal advice and is not to be relied upon for any investment decisions.

Publication
Enforcing Security over Real Estate
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PDF 3.8 MB

Authors

Picture of Pierre-Axel Chabot
Pierre-Axel Chabot
Partner
Brussels
Picture of Marco Lacaita
Marco Lacaita
Partner
Tirana
Picture of Alexander Rakosi
Alexander Rakosi
Partner
Vienna
Picture of Gentscho Pavlov
Gentscho Pavlov
Partner
Sofia
Anna Radnev
Ana Radnev
Partner
Istanbul
Picture of Martin Brown
Martin Brown
Partner
London
Picture of Alexandre Bordenave
Alexandre Bordenave
Counsel
Paris
Marc Riede
Dr. Marc Riede
Partner
Hamburg
Picture of Erika Papp
Erika Papp
Managing Partner
Budapest
Picture of Paolo Bonolis
Paolo Bonolis
Partner
Rome
Picture of Vivian Walry
Vivian Walry
Partner
Luxembourg
Picture of Eduard Scheenstra
Eduard Scheenstra
Partner
Amsterdam
Picture of Małgorzata Chruściak
Małgorzata Chruściak
Partner
Warsaw
Joaquim Shearman de Macedo
Partner
Lisbon
Picture of Simon Dayes
Simon Dayes
Partner
Bucharest
Picture of Konstantin Baranov
Konstantin Baranov
Partner
Moscow
Picture of Sian Aitken
Sian Aitken
Partner
Edinburgh
Picture of Milica Popovic
Milica Popović
Partner
Belgrade
Helen Rodwell
Helen Rodwell
Managing Partner
Prague
Picture of Nacho Fernandez Aguado
Juan Ignacio Fernández Aguado
Partner
Madrid
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