By Raphaël MORENON
12 June 2025
The pledge of a securities account is a powerful guarantee, but its true effectiveness is measured at the time it is realised. When the debtor fails to honour his commitments, the creditor must be able to transform this security into cash to recover his debt. This phase, far from being a mere formality, is a legal process governed by strict rules designed to balance the rights of the creditor and the protection of the debtor. A mistake can wipe out the benefits of the guarantee. For a complete overview of the mechanism, our guide to securities account pledging details the steps involved in setting it up. This article focuses on the procedures for implementing this security, i.e. how to enforce it in practice. Preconditions for realising the pledge Before even considering selling or appropriating the securities, the creditor must ensure that a number of imperative conditions are met. The realisation process is not...
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