Jersey law security over Jersey intangible movable property such
as shares, units and bank accounts is taken by way of a security
interest under the Security Interests (Jersey) Law 2012 (the
"Law").
This briefing summarises the process for enforcing security
interests under the Law.
Direct enforcement
There is no concept of a receiver or an administrator in Jersey
law, so a security interest is directly enforced by the secured
party, who therefore has control of the process.
Notice of an event of default
An event of default must have occurred before a security
interest can be enforced. Notice of the event of default must be
served on the grantor of the security, and the notice must specify
the event of default giving rise to enforcement. Notice can be
served immediately after an event of default has occurred.
