This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...
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...
Subordination is a way of changing the priority of claims against a debtor so that one creditor or group of creditors (the junior creditor(s)) agree...
In many commercial finance transactions, lenders expect to be given some form of credit support to increase their confidence in being able to recover...
Lexis®PSL are working with INSOL Europe on a joint project to obtain articles from INSOL Europe’s national correspondents in the EU Member States to...
Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the impact of the voluntary industry measures...
Companies which are starting to show signs of distress often see their debt being traded on the secondary market at prices below par/face value. The...
BackgroundThe aim of the intercreditor agreement (also known as a deed of priority) is to try and deal with potential conflicts which will inevitably...
‘Light touch’ administration is not a new concept, but it is back in the news with the light touch approach used in the administrations of high street...
The appointment of a receiver is a remedy for creditors and certain third parties to protect their interest in assets of a company. The creditor will...
During the term of a facility, a borrower's circumstances can change. Sometimes, a borrower's circumstances change to such an extent that it wants the...
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