How to take security in Myanmar

Author: Ashley Lee | Published: 24 Jul 2014

Local authorities have completed the first registration of a secured interest on Myanmar assets for a foreign loan, a development that could facilitate lending in the jurisdiction.

Local and foreign counsel have told IFLR that one of the biggest hurdles to infrastructure projects in Myanmar is taking security over assets.

Myanmar’s century-old Companies Law includes provisions on taking security. Under the law its Company Registration Office (CRO) is supposed to keep a register of debentures and secured interests, but that register does not exist.

Lawyers believe that they have found a solution. "The administrative processes are now in place for a foreign lender to take security in Myanmar, signalling that it can be done under current laws," said Edwin Vanderbruggen, founding partner...


 

 

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