This overview is a guide to the Banking & Finance content within the Releasing security subtopic, with links to the appropriate materials.
Practice Note: Releasing security provides information on how to release security, including consideration of the equity of redemption, pre-release checks, choosing the appropriate release document, and any necessary filings.
In order to deal with the discharge and release of security, it will be necessary to consider:
the conditions to be satisfied before any release is effected, eg the redemption amount to be paid or consents to be obtained
notification to relevant third parties that the release has been effected, eg where a legal assignment by way of security of a contract has been released by re-assignment to the relevant security provider
the nature of the security interest and the method to release it (see: Choosing the appropriate document to release the security), and
the removal of any registration made at the time that the security interest was created (see: Updating the registers following the release of security)
Once a secured debt has been fully
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