Complex sentence: In the absence of such fungibility and ease of transfer of the collateral the more cumbersome lien mechanism is used in which creditor only can take possession of the asset in a bankruptcy, such asset cannot be rehypothecated.
Split into simpler sentences: In the absence of such fungibility and ease of transfer of the collateral the more cumbersome lien mechanism is used. If a creditor can only take possession of the asset in a bankruptcy, such asset cannot be rehypothecated.