Restructuring options and processes

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Practice notes
The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...
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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
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
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
This Practice Note considers the costs that a lender operating in the interbank market will incur when providing funding to a borrower and the steps...
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9th Nov
Practice notes
This Practice Note lists hot topics (with links to the appropriate materials) that may be of interest to Banking & Finance lawyers. It is updated...
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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
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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
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
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
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
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
Precedents
[insert date]To:[insert full name and address of lender]Dear [insert full name of lender]I am a director of [insert full name of borrower] (the...
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9th Nov

Most recent Restructuring options and processes content

Practice notes
Spurred on by the coronavirus (COVID-19) pandemic, the government pushed through the Corporate Insolvency and Governance Act 2020 (CIGA 2020). The...
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19th Apr
Practice notes
The Corporate Insolvency and Governance Act 2020 (CIGA 2020) creates a new restructuring tool in the form of a restructuring plan under Part 26A of...
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19th Apr
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to schemes of arrangement. The cases are divided by topic...
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14th Apr
Practice notes
Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the impact of the voluntary industry measures...
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14th Apr
Practice notes
An introduction to the legislationCorporate Insolvency and Governance Act 2020Expedited by the coronavirus (COVID-19) pandemic, the Corporate...
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8th Apr
Practice notes
This Practice Note provides a map of the financial services exemptions from the provisions for moratorium and restrictions on ipso facto clauses which...
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8th Apr
Practice notes
There are many options for restructuring a company's debt. The most appropriate method depends upon the degree of the company's financial...
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8th Apr
Q&As
As a general rule, it is possible to grant security over receivables as a chose in action. A chose in action is an asset or sum which is recoverable...
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8th Apr
Practice notes
The term 'recapitalisation' refers to a company changing the proportions of its debt and equity, something which can be achieved in a variety of ways....
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8th Apr
Practice notes
This Practice Note is archived and no longer maintained. Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State....
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8th Apr
Practice notes
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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8th Apr
Practice notes
One of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver, which cures a temporary...
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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
IntroductionIn addition to the formal provisions of the UNCITRAL Model Law (enacted in England by the Cross-Border Insolvency Regulations 2006 (CBIR))...
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8th Apr
Practice notes
Formulating an informal restructuring planInformal restructuring deals may use a combination of informal methods combined with more formal methods to...
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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
Background to the Corporate Insolvency and Governance Act 2020 (CIGA 2020)Spurred on by the coronavirus (COVID-19) pandemic and a desire to mitigate...
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8th Apr
Practice notes
In September 2017, the Grand Court of the Cayman Islands (Parker J) sanctioned four separate interlinked Cayman Islands schemes of arrangement to...
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Produced in partnership with Caroline Moran, Nick Herrod and Christian La-Roda Thomas of Maples and Calder 8th Apr
Practice notes
IP completion dayAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK...
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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

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