Initial analysis in restructurings

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Precedents
This Deed is made on [insert day and month] 20[insert year]Parties1[Insert name of Chargor], a company incorporated in England and Wales with...
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9th Nov
Practice notes
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
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
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
What is a direct agreement?Direct agreements are very common in project finance transactions. A direct agreement is an agreement which gives the...
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9th Nov
Practice notes
This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
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
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
Given the cross-border nature of many banking transactions, it is common for the principal legal advisors for lenders and borrowers to need to...
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9th Nov
Practice notes
In summary, a market disruption clause sets out how interest is calculated for a loan if a lender’s cost of funding the loan is in excess of London...
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9th Nov
Practice notes
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
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...
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9th Nov
Practice notes
This Practice Note considers the main terms included in standard form shipbuilding contracts. In particular, it looks at:•standard forms of the...
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9th Nov
Precedents
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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9th Nov
Practice notes
Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the...
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9th Nov

Most recent Initial analysis in restructurings content

Q&As
Where the proposed security is a legal charge over specific propertyIn general terms, a legal charge can be granted by a borrower by deed executed by...
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Produced in partnership with James Hall of Hardwicke Chambers 16th Apr
Practice notes
When restructuring is being considered, the company must ensure that relevant creditors quickly enter into a confidentiality agreement or...
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9th Apr
Practice notes
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing...
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8th Apr
Practice notes
Comfort letters are encountered in finance transactions relatively often. They take different forms and it is important from both the lender's...
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8th Apr
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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8th Apr
Practice notes
What is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up Petitions (the Central Registry) is a computerised register of...
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8th Apr
Q&As
The principle at law is that all creditors will rank equally (or pari passu) unless the parties have agreed otherwise. Practice Note: Order of...
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8th Apr
Q&As
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
Q&As
This Q&A discusses whether or not a clause in a contract between A and B that prohibits B from assigning the contract (ie a non-assignment clause) is...
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Produced in partnership with Brian Cain 8th Apr
Q&As
This Q&A considers the issues that a lender faces if it requests new security for both new and existing loans as a condition to the advance of further...
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8th Apr
Q&As
There are many reasons why it might be necessary to amend a security document—for example the description of the liabilities secured by the document...
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8th Apr
Q&As
In short, no, a comfort letter is not the same as a properly drafted guarantee.Comfort letters are sometimes given as 'alternatives' to guarantees or...
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8th Apr
Practice notes
Entry conditionsFor informal restructuring to be an option (as opposed to a restructuring using one of the formal restructuring tools such as a Part...
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8th Apr
Practice notes
Stop pressThis content is affected by the proposed changes to UK insolvency laws as a result of the coronavirus (COVID-19) pandemic. For further...
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8th Apr
Practice notes
Finding where value breaks governs the shape of any restructuring deal and determines who has a seat at the negotiating table (see Practice Notes:...
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8th Apr
Practice notes
General duty of liquidators and administrators where there has been an unlawful transactionIf, during the course of a liquidator's or administrator's...
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8th Apr
Practice notes
Need for new moneyThe starting point for many companies facing financial difficulty is to look to obtain additional cash to fund the business through...
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8th Apr
Practice notes
Coronavirus (COVID-19)This content is affected by the proposed changes to UK insolvency laws as a result of the coronavirus (COVID-19) pandemic. For...
Read More >
8th Apr
Precedents
[To be printed on headed notepaper of the lender making demand]To: [Insert name of individual and/or position][insert name of the Guarantor or other...
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8th Apr

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