Intercreditor issues on debt restructurings

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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
On an acquisition finance transaction, the borrowing group, in addition to the debt (whether loans or bonds) required to fund the transaction, will...
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9th Nov
Practice notes
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
Practice notes
What is a 'capital call facility'?A capital call facility is a form of finance provided by a lender to a fund and typically secured against investors’...
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Produced in partnership with Peter Olds of Cleary, Gottlieb, Steen & Hamilton 12th Jan
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
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The key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the charged assets in the normal course of...
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9th Nov
Practice notes
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
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
Assignment is a means by which a lender can transfer its interest in a loan to another lender.For an overview of the reasons why a lender might...
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9th Nov
Practice notes
What are they?A bridge to bond facility is a type of acquisition financing where the buyer requires the certainty of a fully committed financing...
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Produced in partnership with Cleary Gottlieb and Ian Chin of Morrison & Foerster 12th Jan
Practice notes
A 10b-5 letter (also referred to as a 'disclosure letter') is a letter delivered to the underwriters by issuer's and underwriters' counsel in...
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Produced in partnership with Charles Farnsworth of Baker McKenzie and Adam Farlow of Baker McKenzie 12th Jan
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
What is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of trade finance. They are working capital credit facilities...
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Produced in partnership with Dentons UK and Middle East LLP 12th Jan
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
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 Intercreditor issues on debt restructurings content

Practice notes
BackgroundThe aim of the intercreditor agreement (also known as a deed of priority) is to try and deal with potential conflicts which will inevitably...
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9th Apr
Practice notes
Formal creditors' committees in formal insolvencies (adminsitration, liquidation, receivership and bankruptcy)Formal creditors' committees are often...
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8th Apr
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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Produced in partnership with Neil Caddy and Nicholas Sullivan of Fried, Frank, Harris, Shriver & Jacobson (London) LLP 8th Apr
Practice notes
This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having...
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8th Apr
Practice notes
The security agentIn a syndicated loan transaction, the security agent (sometimes also known as the security trustee) (the Security Agent) will hold...
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8th Apr
Practice notes
BackgroundThe aim of the intercreditor agreement is to try and deal with potential conflicts which will inevitably arise between the different classes...
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8th Apr
Practice notes
It's important to consider the underlying finance documents to determine the requisite majorities of creditors which can block certain actions...
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8th Apr

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