Q&As

When money is placed into an escrow account, what is the effect in the event the payer enters an insolvency process?

Published by a LexisNexis Restructuring & Insolvency expert

Published on: 21 April 2017

An Escrow account is an interest-bearing bank account to which certain specified criteria are attached which must be satisfied before funds can be released from the account. These conditions will be set out in the associated Escrow agreement.

The

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Jurisdiction(s):

United Kingdom

Key definition:

Money definition

What does Money mean?

Money may be defined as a medium of exchange and is generally accepted in the final discharge of debts and the payment of goods and services.

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