Monthly Highlights: September 2016

Monthly Highlights: September 2016
Welcome to this month’s highlights from the Lexis®PSL Banking & Finance team which cover the key news updates from September 2016.

Brexit

In News Analysis: After the vote for Brexit—implications for project finance, Philip Vernon, global practice co-head of corporate projects at Ashurst, sets out his view on the short-term and long-term implications for project finance. In particular:

  1. whether the UK’s vote in favour of Brexit had any immediate effects on funding for infrastructure projects
  2. what the implications of Brexit are for existing projects funded by the European Investment bank (EIB)
  3. what the EIB’s role in future projects in the UK will be
  4. how Brexit might impact on procurement of projects
  5. whether there are any potential upsides of Brexit for project finance, and
  6. whether there is anything else that project lenders and/or sponsors ought to be thinking about

Lending

Tackling settlement delays in the LMA secondary loan market

Delays to settlement in the Loan Market Association's (LMA) secondary loan market remains a significant issue. In News Analysis: Tackling settlement delays in the LMA secondary loan market, Jacqui Allen, partner at Mandel, Katz & Brosnan, considers some of the most frequent causes of delay, and outlines the steps that are being taken to help reduce settlement times.

Law Commission makes recommendations for reform of Bills of Sale legislation

The Law Commission has published a report recommending that the Bills of Sale Act 1878 and the Bills of Sale Act (1878) Amendment Act 1882 (the Bills of Sale Acts) be repealed and replaced with modern legislation that imposes fewer burdens on lenders and provides more protection to borrowers.

A bill of sale is a document by which a person transfers ownership of goods to another while nevertheless retaining possession of the goods. Most often, bills of sale are used as security for loans. Unlike company charges

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About the author:

Neeta has been working as a paralegal in Banking and Insolvency for the past 4 and a half years.

She started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice Course. She moved to Lexis®PSL in April 2013.