In 2018 the Supreme Court delivered its much-awaited decision in the case of SPV OSUS Ltd v HSBC Institutional Trust Services (Ireland) Ltd & Ors where it confirmed that the assignment of a claim is unenforceable in Irish law unless the assignment is ancillary to a bona fide transaction or the assignee has a genuine commercial interest in the assignment.
Ireland, USA, Arbitration & ADR, Insolvency & Restructuring, Litigation, Mason Hayes & Curran LLP, HSBC
Introduction
Fixed and floating charges – why are they important?
They give a lender a higher position in the queue for the net proceeds of a borrower’s assets in the event of a borrower’s insolvency.