Parties involved in 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
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...
Read More >
9th Nov
Practice notes
There are four main types of security available under English law: •mortgage•charge•pledge, and•lienThis Practice Note explains:•the nature of a...
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9th Nov
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...
Read More >
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...
Read More >
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
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
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
Summary of advantages and disadvantages of the floating chargeThis Practice Note discusses the advantages and disadvantages of taking a floating as...
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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
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
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
Documents for a typical project finance transaction can be split into three broad categories:•finance documents—the finance documents govern the debt...
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9th Nov
Practice notes
Commodity repurchases (repos) are a common alternative method of financing. There are a number of advantages for both the financier and a commercial...
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Produced in partnership with Sullivan 12th Jan

Most recent Parties involved in restructurings content

Practice notes
In many restructurings, the early creation of a creditors' committee (or steering committee) will greatly assist negotiations between the debtor...
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9th Apr
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
STOP PRESS: The Corporate Insolvency and Governance Act (CIGA 2020) is in force from 26 June 2020. The government has legislated to temporarily...
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9th Apr
Practice notes
Companies, governments and municipalities issue bonds to finance their operations and fund projects. The bond market offers a very efficient way to...
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Produced in partnership with Katerina Papamichael of D F King (Europe) Limited 9th Apr
Practice notes
In many restructurings, informal (ad hoc or unofficial) creditors' committees are formed as opposed to formal creditors' committees (see Practice...
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9th 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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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
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
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
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...
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8th Apr
Practice notes
Directors of companies which become, or are likely to become, insolvent face additional considerations and are under a duty to minimise losses to the...
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6th Apr
Practice notes
STOP PRESS: The Corporate Insolvency and Governance Act (CIGA 2020) is in force from 26 June 2020. The government has legislated to temporarily...
Read More >
23rd Mar
Practice notes
High yield bondholders have been playing an increasingly significant role in restructurings. In previous cycles, even though high yield bonds have...
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Produced in partnership with Phillip Taylor, Tamer Bahgat and Michael Lee of Alston & Bird 22nd Mar
Practice notes
This Practice Note covers the duties and role of the facility agent (defined in the Loan Market Association (LMA) documentation as the Agent) in a...
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17th Mar
Practice notes
This Practice Note considers the key finance parties involved in a syndicated loan arrangement or syndicated loan facility. It looks at the roles and...
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17th Mar
Practice notes
Who and what are bondholdersBondholders (sometimes also known as noteholders) have generally invested in a company’s most junior—and hence risky—debt....
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Produced in partnership with South Square Chambers and BDO 5th Mar
Practice notes
Although suppliers are generally unsecured creditors (unless they establish a valid retention of title (ROT) claim) they may be key to a successful...
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Produced in partnership with Tom Shepherd of 4 New Square 26th Feb
Q&As
Please note, this Q&A only covers the contractual position under English law.Suppliers often enhance their position by supplying goods on terms...
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22nd Dec

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