This note looks at various issues a lender should consider when taking security from a company. It looks at considerations in relation to structuring the security package and documentation and contractual issues.

It also looks at various legal issues that may have an impact on security taken by a lender, for example, financial assistance, reviewable transactions, financial collateral arrangements and the effect of a Part A1 moratorium.

Finally, it looks at how security taken will need to be perfected and what enforcement options a lender may require, together with issues to consider when taking second ranking or third party security.