Verpanding aandelen
Pledge of Shares
The pledging of shares is the creation of a pledge over shares in a company as security for a claim. The pledgee thereby acquires the right to enforce the shares in the event of default.
Pledging of shares constitutes a form of security interest whereby the shareholder encumbers its shares with a pledge in favour of a creditor. This limited right entitles the pledgee, upon default, to proceed with the sale of the shares.
The regime is relevant in financing transactions in which banks or investors take shares as collateral for loans to the shareholder or the company. Without a pledge, the creditor will often have no recourse against the shares in the event of insolvency.
In practice, pledges over shares are frequently used in acquisitions, refinancings and shareholder loans. The pledge agreement is executed either by notarial deed or privately and is commonly registered.
“The bank required a pledge over the shares in the holding BV as a condition for the provision of the bridge loan.”
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