Regulatory Alerts2015-01-01
Law No. 115 of 2015 on the Regulation of Movable Collateral
The President of the Republic of Egypt issued Law No. 115 of 2015 to establish a unified legal framework for movable collateral security interests, replacing fragmented regulations with a centralized electronic registration system. The law mandates that creditors file security agreements with the General Authority for Financial Supervision to perfect their priority rights against third parties, while standardizing enforcement procedures, creditor ranking, and the treatment of registered collateral in bankruptcy or insolvency. It grants debtors specific procedural protections during execution, imposes strict penalties for fraudulent alteration of registered data, and allows parties to contractually define maintenance, disposal, and early settlement terms within a standardized regulatory boundary.