The following Banking & Finance practice note produced in partnership with Joseph Wren of Travers Smith and Jonathan Gilmour of Travers Smith provides comprehensive and up to date legal information covering:
Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the coronavirus (COVID-19) outbreak. We are reviewing our content on the basis of information available and will keep it under regular review. For information on key developments and related practical guidance on the implications for lawyers, see: Coronavirus (COVID-19) toolkit and Practice Note: Coronavirus (COVID-19)—implications for structured products and securitisation transactions.
Repo is the market term for a ‘repurchase transaction’, which involves the sale of an asset by one party (the seller) to another party (the buyer) with a simultaneous agreement between the parties that the seller will repurchase the asset from the buyer at a future date for a specified price.
Any asset that is capable of being transferred from one person to another may be subject to repo. The most common types of asset that are repo’d are debt securities (bonds), equity securities (shares) and other financial assets such as loans and commodities. Commodity repos give rise to particular documentary, structural and legal issues which are not covered in this Practice Note. For information on commodity repos, see Practice Note: Commodity repo transactions and true sale considerations.
The principal payment and delivery obligations in a typical repo
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Breach of statutory dutyThis Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care
Property: [insert name and/or address of the Property] (‘Property’)Purchaser: [insert name, address and (if applicable) company registration number of buyer]Transaction: [insert brief details]1Executive summary1.1Scope of reportThis report is addressed to you [insert buyer’s name] and has been
Mediation—advantages and disadvantagesWhat is mediation?Mediation is one of the most recognised and common forms of alternative dispute resolution (ADR).It is a form of assisted ADR in the sense that there is a third-party neutral involved who meets with the parties and seeks to help them in
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeStatutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a
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