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Latest Banking & Finance News

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Greece

INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Greece

The following Banking & Finance news provides comprehensive and up to date legal information on INSOL Europe/LexisPSL Joint Project on ‘How EU Member States recognise insolvency/restructuring proceedings commenced in third country states’—Greece

FATCA-esque crypto proposal raises compliance questions

FATCA-esque crypto proposal raises compliance questions

The following Banking & Finance news provides comprehensive and up to date legal information on FATCA-esque crypto proposal raises compliance questions

EU court holds limitation period ineffective where borrower does not know the term in question is unfair

EU court holds limitation period ineffective where borrower does not know the term in question is unfair

The following Banking & Finance news provides comprehensive and up to date legal information on EU court holds limitation period ineffective where borrower does not know the term in question is unfair

Banking and Finance weekly highlights—10 June 2021

Banking and Finance weekly highlights—10 June 2021

The following Banking & Finance news provides comprehensive and up to date legal information on Banking and Finance weekly highlights—10 June 2021

Featured Banking & Finance content

Floating charges

Floating charges

Floating chargesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following...

Bills of exchange—structure and parties

Bills of exchange—structure and parties

Bills of exchange—structure and partiesBills of exchange are negotiable instruments that represent an unconditional promise by one party to pay...

Deed of release: for a debenture or mortgage—single company security provider—full or partial release

Deed of release: for a debenture or mortgage—single company security provider—full or partial release

This Deed is made on [insert day and month] 20[insert year]Parties1[insert name of Lender], a company incorporated in England and Wales with...

Subordination

Subordination

SubordinationSubordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior...

Practice notes

Credit linked notes

Credit linked notesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...
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19th May
Q&As

A legal charge over property was registered at Companies House. Form MR01 did not say that there was a negative pledge, when there was actually a negative pledge in the document. Form MR01 with the mistake was approved and added to the register at Companies House. The charge was registered correctly with the Land Registry. Does the Companies House error need to be corrected by court order or is the charge enforceable with the error?

A legal charge over property was registered at Companies House. Form MR01 did not say that there was a negative pledge, when there was actually a...
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19th May
Practice notes

Term Loan B facilities

Term Loan B facilitiesThis Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in...
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Produced in partnership with Carlo de Vito Piscicelli of Cleary Gottlieb Steen & Hamilton 19th May
Practice notes

Transferring a loan by sub-participation

Transferring a loan by sub-participationSub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an...
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19th May
Practice notes

Warrants

WarrantsIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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19th May
Practice notes

Perfecting security over aircraft and registering security on the UK Register of Aircraft Mortgages

Perfecting security over aircraft and registering security on the UK Register of Aircraft MortgagesIP COMPLETION DAY: 11pm (GMT) on 31 December 2020...
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19th May
Practice notes

Loan Market Association (LMA) leveraged documentation

Loan Market Association (LMA) leveraged documentationDevelopment of the Loan Market Association (LMA) documentationThe project to develop the LMA...
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19th May
Practice notes

Perfecting security

Perfecting securityIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into...
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19th May
Precedents

Guarantee and indemnity: cross guarantee from group companies—bilateral—all monies

This Deed of guarantee and indemnity is made on [insert day and month] 20[insert year]Parties1[Insert name of Guarantor], a company incorporated in...
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19th May
Precedents

Facility letter (term loan): single company borrower—bilateral—unsecured

[TO BE PRINTED ON THE HEADED PAPER OF THE LENDER][insert name and address of borrower][insert date]Dear [insert full name of borrower]We offer to...
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19th May
Practice notes

Crystallisation of floating charges

Crystallisation of floating chargesThe key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the...
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19th May
Practice notes

Borrowing base facilities—structure, key terms and risks

Borrowing base facilities—structure, key terms and risksWhat is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of...
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Produced in partnership with Dentons 19th May
Practice notes

What is credit support and how is it used in the ISDA credit support documentation?

What is credit support and how is it used in the ISDA credit support documentation?What is credit support?Credit support is a means of a party...
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19th May
Precedents

Overdraft facility letter: single company borrower—bilateral—with or without a guarantee

[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert name of borrower],We are pleased to...
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19th May
Practice notes

Third party security

Third party securityIn many commercial finance transactions, lenders expect to be given some form of credit support to increase their confidence in...
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19th May
Practice notes

Direct agreements in project finance transactions

Direct agreements in project finance transactionsWhat is a direct agreement?Direct agreements are very common in project finance transactions. A...
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19th May
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Most recent Banking & Finance glossary content

Practice notes

Banking & Finance Glossary—F

Banking & Finance Glossary—FFace valueThe nominal value of a security rather than its market valueFacility agentThe financial institution that acts as...
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10th Jun
Practice notes

Banking & Finance Glossary—R

Banking & Finance Glossary—RRatingThe assessment given to debt obligations and/or to borrowers by debt rating agencies based on their ability to repay...
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10th Jun
Practice notes

Banking & Finance Glossary—L

Banking & Finance Glossary—LLag mechanismThis is a mechanism for calculating compounded SONIA for use in bond or loan markets. It is intended to...
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10th Jun
Practice notes

Banking & Finance Glossary—G

Banking & Finance Glossary—GGearingA term which indicates the debt to equity ratio of a companyGiltsSecurities issued by the British governmentGrace...
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10th Jun
Practice notes

Banking & Finance Glossary—C

Banking & Finance Glossary—CCapitalisation of interestWhere interest is added to the principal amount of a loan to be paid at the same time as the...
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10th Jun
Practice notes

Banking & Finance Glossary—Q

Banking & Finance Glossary—QQuasi-equityEquity that is invested in the form of subordinated loan...
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10th Jun
Practice notes

Banking & Finance Glossary—Y

Banking & Finance Glossary—YYank the bankA provision in a facility agreement enabling the borrower to replace a lender if it fails to agree to a...
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10th Jun
Practice notes

Banking & Finance Glossary—N

Banking & Finance Glossary—NNaked credit default swapA credit default swap which is purely speculative and on which neither party owns the reference...
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10th Jun
Practice notes

Banking & Finance Glossary—M

Banking & Finance Glossary—MMaintenance covenantType of covenant which is tested on a regular basis; contrasts with an incurrence covenant where...
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10th Jun
Practice notes

Banking & Finance Glossary—B

Banking & Finance Glossary—BBack officeAdministrative departments in a bank which are involved in activities such as settlement and accountsBack to...
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10th Jun
Practice notes

Banking & Finance Glossary—P

Banking & Finance Glossary—PParThe face value of a security at which it will be redeemed by the borrower at maturityPari passuLiterally means on an...
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10th Jun
Practice notes

Banking & Finance Glossary—U

Banking & Finance Glossary—UUCITsUCITS stands for ‘undertakings for collective investment in transferable securities’. The regulatory regime for UCITS...
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10th Jun
Practice notes

Banking & Finance Glossary—A

Banking & Finance Glossary—AACTAssociation of Corporate Treasurers.ACT websiteAdministrationAdministration is a procedure under the Insolvency Act...
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10th Jun
Practice notes

Banking & Finance Glossary—S

Banking & Finance Glossary—SSale and leasebackA transaction where the seller sells real property to the purchaser who then leases it back to the...
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10th Jun
Practice notes

Banking & Finance Glossary—K

Banking & Finance Glossary—KKey personOne or more persons designated by lenders/investors as key to a business. Contractual...
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10th Jun
Practice notes

Banking & Finance Glossary—Z

Banking & Finance Glossary—ZZero coupon bond/noteA...
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10th Jun
Practice notes

Banking & Finance Glossary—T

Banking & Finance Glossary—TTangible assetsAssets with physical substance, eg land, cash or propertyTargetA company or business that is the subject of...
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10th Jun
Practice notes

Banking & Finance Glossary—I

Banking & Finance Glossary—IIBAThis refers to ICE Benchmarks Administration Ltd, the administrator of LIBORIBOR‘IBORs’ are benchmarks based on...
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10th Jun
Practice notes

Banking & Finance Glossary—E

Banking & Finance Glossary—EEBITDAEBITDA is an acronym for ‘earnings before interest, tax, depreciation and amortisation’. The EBITDA of the business...
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10th Jun
Practice notes

Banking & Finance Glossary—W

Banking & Finance Glossary—WWarrantA tradeable security which gives the holder the right, but not the obligation, to buy or sell a specified asset at...
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10th Jun

Popular documents

AML and counter-terrorist financing—source of funds and source of wealth

AML and counter-terrorist financing—source of funds and source of wealth

AML and counter-terrorist financing—source of funds and source of wealthSource of funds and wealth was a key focus of the SRA’s Preventing Money Laundering and Financing of Terrorism thematic review, published in March 2018. Its findings included that:•most firms understood the distinction between

Section 26 notice—Tenant’s request for a new business tenancy under LTA 1954

Section 26 notice—Tenant’s request for a new business tenancy under LTA 1954

Tenant's request for a new business tenancyThese drafting notes are for use when completing a tenant’s request for a new business tenancy under the Landlord and Tenant Act 1954. They are intended to be used when completing the prescribed form under the Landlord and Tenant Act 1954, Part 2 (Notices)

EL/PL claims in the portal—a practical guide (Stage 1)

EL/PL claims in the portal—a practical guide (Stage 1)

EL/PL claims in the portal—a practical guide (Stage 1)This Practice Note provides an overview of the Pre-Action Protocol for Low Value Personal Injury (Employers’ Liability and Public Liability) Claims from 31 July 2013 (the EL/PL protocol) in particular Stage 1 of the process. For guidance on Stage

TCC—preparing for and attending a pre-trial review (PTR)

TCC—preparing for and attending a pre-trial review (PTR)

TCC—preparing for and attending a pre-trial review (PTR)Note:•this Practice Note gives specific guidance on matters proceeding in the Technology and Construction Court (TCC) under the provisions set out in CPR 60, CPR PD 60 and the TCC Guide. As these provisions are additional to the general