Published: 31 January 2017 at 12:06
Iyare to help reform the Law of Secured Transactions
Iyare Otabor-Olubor, Lecturer in Law at Anglia Law School, has been appointed to the advisory group on the new Secured Transactions Code. The group was set up by the Financial Law Committee of The City of London Law Society to consider the current state of the law concerning secured transactions in England and the possibility of codifying it.
The advisory group is made up of experienced academics involved in secured transactions law reform, representative of the banking industry and prominent legal practitioners with vast experience in financial law. The group is chaired by Richard Calnan, a practitioner noted for his eminent work as an author on secured transactions and insolvency law.
The Secured Transactions Code, if enacted, would be the first ever legislation in England to codify this area of law. The work of the advisory group will be to consider the feasibility of having a single code to modernise and provide consistency and transparency in the way secured transactions are carried out in England. Secured transactions are primarily used in financial agreements as a device to provide creditors with adequate security over the property of their debtors. The advisory group is in collaboration with the UK Secured Transactions Law Reform Project headed by Professor Louise Gullifer.