| Commentary

15 Foreign securities

| Commentary

15 Foreign securities

Property mortgaged or charged in favour of debenture1 holders or stockholders sometimes comprises assets in a foreign country. The advice of foreign lawyers and valuers will always be required as the title to the asset will be governed by the lex loci rei sitae. Often a trustee of the country concerned will need to be appointed to protect the assets for the debenture holders or stockholders. Pending compliance with the requirements of foreign law by the debenture holders or the trustees of a trust deed, creditors or mortgagees of the company will acquire priority under

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