It depends on the borrower group and the asset base, but most packages combine a registered mortgage over land and buildings, hypothecation over plant, machinery, stock and receivables, a pledge of shares in the Bangladesh company, assignments of key contracts and insurance, and charges over accounts. Offshore, lenders may also take security over a holding company or offshore accounts under foreign law. Multi-jurisdictional security works best when each layer is documented to the same secured obligations and the same enforcement trigger, so that lenders are not left with gaps between jurisdictions. We prepare the schedule early.

A foreign lender can be the beneficiary of security over Bangladesh property in principle, but the practical route needs care. Foreign currency borrowing and security in favour of non-residents may require foreign exchange approval, and enforcement against land usually runs through the Bangladesh courts. For those reasons, many multi-jurisdictional security structures place the mortgage with an onshore security agent, often a local bank or trustee, holding for the whole lender group. We advise on which approach suits the deal, the approvals involved, and how the mortgage should be drafted, stamped and registered. Each route has different cost implications.

There is no single timeline. Registration of a land mortgage depends on title review, valuation, stamp duty payment and the sub-registry process. Filing charge particulars with the RJSC must be done within the statutory period after creation, and share pledges depend on board approvals and delivery of certificates. Foreign exchange approvals can take longer than the documents themselves. We set a realistic perfection timetable at term sheet stage, flag what should be a condition precedent and what can follow as a condition subsequent, and update the lenders and their counsel as each step completes.

Several reasons. Local enforcement routes, including the specialised loan recovery courts, are designed for banks and financial institutions, so a Bangladesh bank holding security can use procedures that an offshore lender cannot. An onshore agent can also attend to registrations, renewals and insurance endorsements locally. In multi-jurisdictional security structures, the onshore agent then holds for the offshore security agent or directly for the lenders under a trust or agency arrangement. We draft those arrangements so that instructions, indemnities, fees and replacement of the agent are all clear from the outset. That also simplifies future lender transfers.

Bangladesh courts generally give effect to valid contracts, including those governed by foreign law, but foreign law must be proved as a fact and some rules, such as winding-up priorities and registration requirements, apply regardless of the parties' choice. Subordination and turnover clauses usually operate as obligations between creditors, rather than altering statutory priority against the company. We advise on which intercreditor provisions should be mirrored in the Bangladesh multi-jurisdictional security documents, which need express borrower acknowledgement, and what a Bangladesh enforceability opinion can confirm. Local acknowledgements are often decisive.

Properly created and registered security generally survives a winding up, and secured creditors can realise their collateral subject to the court's supervision and statutory preferential claims. Unregistered charges can be void against a liquidator and other creditors, which is why RJSC filing matters so much. Transactions shortly before a winding up may also be reviewed. Bangladesh law has no dedicated framework for recognising foreign insolvency proceedings, so offshore and onshore processes may run separately. We plan for that at the documentation stage rather than when distress has already begun. Ranking evidence should be kept current.

Releases need the same care as creation. The intercreditor agreement should say who can instruct a release, on what conditions and with which lender consents. In Bangladesh, a mortgage is normally released by a registered deed of release or reconveyance, satisfaction of a charge is filed with the RJSC, and pledged share documents are returned. Where a new lender group steps in, we can sometimes arrange assignment or amendment of the existing multi-jurisdictional security, rather than full release and retaking, which can save time and duplicate stamp duty. It all turns on the original drafting.

The common gaps are practical: charges not filed with the RJSC on time, mortgages signed but not registered, share pledges without valid board approvals, insurance policies that do not name the lenders, and receivables already hypothecated to a local bank under an earlier facility. Foreign exchange approval is another frequent source of delay, especially for guarantees in favour of non-residents. In multi-jurisdictional security work we run a short diligence exercise on existing charges and encumbrances at the start, so these points surface before signing, not in the week of drawdown. Early checks save real money.