Mauritius Commercial Bank Limited

Our team advised MCB in relation to the security release of certain secured petroleum assets that the borrower was selling to a third party.

4 Mar 2021 1 min read Featured work

We advised on the proposed release mechanism to ensure that the lender was paid from the purchase price whilst protecting its interests. We reviewed the security agreements and partial discharge of charge and attended to its perfection.

We had to think carefully about the mechanism for release of the security to ensure that the sale transaction could proceed to completion while ensuring that the lender was adequately protected. The notice on the deal is here: https://gulfenergy.co.ke/downloads/communication-to-suppliers-and-partners.pdf