William Johnston is a Consultant at Arthur Cox, having been a partner in the firm for 30 years. He has extensive expertise in all aspects of security law for financing and banking facilities and is a former chair of the Banking Law Division of the International Bar Association. He is currently a member of the Company Law Review Group and external examiner in Banking Law for the Law Society.




PD Dr. Thomas Werlen is the Managing Partner of the Zurich office of Quinn Emanuel Urquhart & Sullivan. His practice focuses on white collar and corporate investigations as well as on cross-border litigation, international arbitration and complex financial disputes. Thomas Werlen has gathered unique experience at the highest levels in international law firms in the UK and the US, in addition to serving as Group General Counsel and Member of the Executive Committee for global pharma company Novartis. He lectures on capital markets law and corporate governance at the University of St. Gallen where he is the Co-Director of the Executive Master of Business Law Program.


Frederick Link is a top-level executive with unique experience in banking and financial markets and in law. He served for 10 years on the Executive Committee of EFG International AG, a global private banking and asset management group headquartered in Zurich, holding the position of Chief Risk Officer and, previously, Group General Counsel.

The third edition of this invaluable guide covers the application and practice of the law of set-off in over 30 jurisdictions worldwide. Expanded to include new material concerning cross-border issues, it provides an at-a-glance resource for banking and finance lawyers wishing to establish the pitfalls of set-off in a foreign jurisdiction.

The third edition of this invaluable guide covers the application and practice of the law of set-off in over 30 jurisdictions spanning Europe, Asia and the Americas.

Written by leading experts from around the word, each chapter explains the principles of the law of set-off in the jurisdiction concerned, and provides a comparative guide for banking and finance lawyers wishing to establish the pitfalls of set-off in a foreign jurisdiction

For this new edition every chapter has been updated to contain new material specifically devoted to cross border aspects, including analysis of choice of law issues..

Fully updated legal analysis is also provided, with an emphasis on how set-off may be used as security and the application of insolvency set-off: taking into account new legal developments in the various jurisdictions and reflecting recent changes to legislation in the financial sector relating to bank and other financial firm resolution.