At the end of October last year the House of Lords gave judgment in Morris vs Agrichemicals Ltd, laying to rest the doubt over a bank’s ability to take a charge over cash deposited with it by a borrower. The decision was applauded but lawyers were still uncertain as to the implications for loan documentation (see Financial Lawyer, Euromoney December 1997).
Now, however, the Financial Law Panel has sounded the all-clear in its bulletin entitled “Security over cash deposits – a valediction” (April 1998).
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
