Pellerano & Herrera achieves a notable seizure under Law 45-20 on Movable Collateral

The legal action involved the seizure of five buses secured through a contract.

Santo Domingo, DR – The law firm Pellerano & Herrera has obtained one of the most notable seizures under Law No. 45-20 on on Movable Collateral, reaffirming its leadership in the implementation of new regulations in the country.

Law 45-20, in effect since 2020, allows the use of movable property as collateral in credit operations, facilitating access to financing with greater legal security for both creditors and debtors. A key component of its implementation is the Electronic Secured Transactions System (SEGM), a centralized and public database where transactions subject to this law are registered, ensuring transparency and enforceability against third parties.

This seizure, executed in favor of a prominent multinational company, represents a significant milestone for the secured transactions system in the country by effectively applying the enforcement mechanisms outlined in the legislation. The process reinforces the utility of SEGM as a tool to support creditors and as a swift mechanism to enforce rights over registered collateral.

“This outcome not only protects our client’s interests but also validates the operation of the legal framework aimed at boosting secured credit in the Dominican Republic,” said Lucy Objío, partner in the Litigation department who led the action.

Other attorneys who participated in this achievement were Starlyn Tapia and Marcos Peralta.

With this precedent, Pellerano & Herrera continues to establish itself as one of the leading firms in strategic litigation and the application of innovative regulations, providing its clients with legal solutions aligned with the new standards of legal security and procedural efficiency. This success was made possible thanks to the work of the Litigation and Dispute Resolution team, whose experience and strategic vision have been key to obtaining successful results.