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Types of quasi-security

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The Law Commission’s recommendations for updating for the Land Registration Act 2002—thoughts on the government response

The Law Commission’s recommendations for updating for the Land Registration Act 2002—thoughts on the government response

The following Banking & Finance news provides comprehensive and up to date legal information on The Law Commission’s recommendations for updating for the Land Registration Act 2002—thoughts on the government response

FCA looks to challenge Amigo Loans’ restructuring plan

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SEC brought 75 crypto-related actions in 7.5 years

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Featured Banking & Finance content

Commodity repo transactions and true sale considerations

Commodity repo transactions and true sale considerations

Commodity repurchases (repos) are a common alternative method of financing. There are a number of advantages for both the financier and a commercial...

Project finance—key finance documents

Project finance—key finance documents

Documents for a typical project finance transaction can be split into three broad categories:•finance documents—the finance documents govern the debt...

Borrowing base facilities—structure, key terms and risks

Borrowing base facilities—structure, key terms and risks

What is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of trade finance. They are working capital credit facilities...

Drafting or reviewing legal opinions in loan transactions

Drafting or reviewing legal opinions in loan transactions

Legal opinions are one of the key documentary conditions precedent in loan transactions. The legal opinion is a letter which sets out opinions as to...

Practice notes

Secondary debt trading—completing the trade confirmation

The majority of secondary debt trades are conducted by telephone or by email. Following the trade call or email exchange, the parties will document...
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9th Nov
Practice notes

Transferring a loan by novation

Novation is a means by which a lender can transfer its interest in a loan to another lender.This Practice Note looks at what is meant by novation...
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9th Nov
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Practice notes

Transferring a loan by sub-participation

Sub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an overview of the reasons why a lender might...
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9th Nov
Practice notes

On demand guarantees and bonds

Coronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules. For...
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9th Nov
Practice notes

Third party security

In many commercial finance transactions, lenders expect to be given some form of credit support to increase their confidence in being able to recover...
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9th Nov
Practice notes

The facility agent

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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9th Nov
Practice notes

Assignments by way of security

Assignments by way of security can take different forms and it is important to understand how they are created and their effect. Security over choses...
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9th Nov
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Practice notes

Events of default

This Practice Note considers:•the purpose of events of default included in facility agreements•common events of default relating to borrowers and...
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9th Nov
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Practice notes

Synthetic securitisations

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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9th Nov
Practice notes

Loan Market Association (LMA) leveraged documentation

Development of the Loan Market Association (LMA) documentationThe project to develop the LMA investment grade documents began in 1998 as a response to...
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9th Nov
Practice notes

Incremental debt flexibility or accordion features

What are incremental facilities?An incremental facility is feature included in a credit agreement where, subject to meeting certain pre-agreed...
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Produced in partnership with Osborne Clarke 12th Jan
Practice notes

Types of debt securities

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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9th Nov
Practice notes

Loan Market Association (LMA)—news on documentation [Archived]

This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from...
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9th Nov
Practice notes

Common financial covenants

This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing...
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9th Nov
Practice notes

Term Loan B facilities

This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged...
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Produced in partnership with Carlo de Vito Piscicelli of Cleary Gottlieb Steen & Hamilton 12th Jan
Practice notes

Negative pledges

This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge...
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9th Nov
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Most recent Types of quasi-security content

Practice notes

Negative pledges

Negative pledgesThis Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative...
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15th May
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Practice notes

Netting

NettingIn finance transactions, the terms 'netting' and 'set-off' are sometimes used interchangeably even though they are not the same thing. The...
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15th May
Practice notes

Comfort letters

Comfort lettersComfort letters are encountered in finance transactions relatively often. They take different forms and it is important from both the...
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15th May
Practice notes

Difference between security and quasi-security

Difference between security and quasi-securityThe terms security and quasi-security are frequently used in relation to finance transactions. This...
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15th May
Practice notes

Characteristics of standby letters of credit

Characteristics of standby letters of creditStandby letters of credit are a type of letter of credit.The common feature of all letters of credit is an...
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15th May
Practice notes

On demand guarantees and bonds

On demand guarantees and bondsCoronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade finance transactions...
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15th May
Practice notes

Guarantees

GuaranteesGuarantees are typically used in banking transactions as a form of collateral for a debt. In such circumstances, they are a contractual...
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15th May
Practice notes

What is set-off and when is it available?

What is set-off and when is it available?Set-off is a complex yet important concept in legal proceedings generally and for many different types of...
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15th May
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Practice notes

Retention of title

Retention of titleThis Practice Note considers retention of title clauses, also known as reservation of title, ROT or Romalpa clauses. It considers...
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15th May
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Q&As

Can a lender set off an unmatured liability of its borrower against a credit balance on the borrower’s deposit account?

This Q&A discusses the rights of a lender to set off a sum that the lender owes to a borrower (eg a credit balance on a deposit account) against an...
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Produced in partnership with Brian Cain 8th Apr

Popular documents

A company’s constitution

A company’s constitution

What is a company's constitution?A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as including:•the company’s articles of association, and•any resolutions and agreements affecting a company’s constitutionThe CA 2006 definition of 'constitution' is not exhaustive and also

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)

What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE) insurance premiums. The relevant CPR

Third party rights—the common law doctrine of privity of contract

Third party rights—the common law doctrine of privity of contract

This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third

The Single Rulebook

The Single Rulebook

Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement