The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Where debt held by a holding company is repaid by the holding company and re-borrowed by a subsidiary (normally this is notional and done through accounting entries). Debt pushdowns are common on acquisition finance transactions and will typically be performed for tax reasons or to enable the lenders to take security at the operating company level without breaching capital maintenance restrictions.
Structure of a buy-out
Debt instruments constituted by a deed under which the borrower agrees with a creditor to repay a loan, usually with interest, within a given time frame.
An instrument which either acknowledges or creates a debt. In secured lending transactions the term is commonly used to denote an instrument creating fixed and floating charges o
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This Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions typically found in an escrow
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
An ad hoc arbitration is any arbitration in which the parties have not selected an institution to administer the arbitration. This offers parties flexibility as to the conduct of the arbitration, but less external support for the process. It can be quicker than institutional arbitration but not if
What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
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