Also known as: nantissements · nantir · nanti · pledge · security interest
Written by attorneys · grounded in primary & secondary sources — see below
A pledge or security interest under French law. It secures an obligation by granting the creditor rights in the debtor's property until performance occurs.
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Northern Manufacturing borrowed funds from a French bank to expand its plant. The parties executed a nantissement on the factory real estate, conveying title to a trustee while allowing the company to retain possession. When Northern Manufacturing defaulted, the bank foreclosed under the nantissement to recover the debt.
Nadia Novak refused to grant a nantissement on her equipment during a commercial dispute. State officials threatened seizure unless she executed the security document. The court held that forcing her to create the nantissement without consent violated her protected property rights.
Navarro Industries directors approved a nantissement on equipment to secure a loan without shareholder vote. The transaction encumbered all assets regardless of ordinary course status. Creditors later enforced the nantissement after default, confirming board authority under the governing statute.
Nalini Narula granted a nantissement on an automobile located across state lines. Both states applied identical rules on the debtor's redemption rights. The court treated the contacts as grouped in one state for choice-of-law purposes when resolving the nantissement dispute.
Nightingale Healthcare executed a nantissement on diagnostic equipment to obtain financing. The board authorized the pledge without shareholder approval. The lender later enforced the nantissement after default, relying on the corporation's statutory power to mortgage its assets.
New Horizon Media purchased shares in another firm and took a nantissement on those interests to secure payment. The transaction allowed the company to hold and enforce the pledge upon default. The nantissement remained valid under the entity's broad statutory authority to deal in obligations of other entities.
A nantissement serves as a general security device. When it covers immovable property it functions like antichrèse, while movable property uses the gage form. Both allow the creditor to hold rights until the obligation is performed.
…a building block of our national community. For that reason, just as a couple vows to support each other, so does society pledge to support the couple, offering symbolic recognition and material benefits to protect and nourish the union. Indeed, while the States are in general free to vary the benefits they confer on…