Q&As

What are the Companies House registration requirements where an existing charge is transferred to a new chargee?

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Published on LexisPSL on 11/10/2016

The following Banking & Finance Q&A provides comprehensive and up to date legal information covering:

  • What are the Companies House registration requirements where an existing charge is transferred to a new chargee?
  • When might a charge be transferred to a new lender?
  • Should a transfer of a charge to a new lender be registered at Companies House?
  • Amendments that can be registered at Companies House
  • Does a transfer to a new chargee create new security?
  • Other perfection considerations

What are the Companies House registration requirements where an existing charge is transferred to a new chargee?

This Q&A discusses whether a charge needs to be re-registered at Companies House if it is transferred from one chargee to another.

When might a charge be transferred to a new lender?

Common situations where a security interest may be transferred from one chargee to another include:

  1. where a secured bilateral loan is transferred from one lender to another and the corresponding security is likewise transferred, or

  2. a security agent or trustee in a syndicated loan resigns and a new one is appointed in its place

The situations above should be distinguished from circumstances where a syndicated loan is sold down or transferred by syndicate lenders through loan transfers, assignments or sub-participations. In this situation, security is typically not transferred; instead, transaction security is granted to a security agent or trustee which holds the security on trust for and on behalf of the lenders from time to time.

Should a transfer of a charge to a new lender be registered

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