The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
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 treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. For guidance, see Practice Note: Brexit—impact on finance transactions—Brexit planning and impact—financial services, Brexit—impact on finance transactions—Key issues for securitisation transactions and Brexit—impact on finance transactions—Derivatives and debt capital markets transactions—key SIs.
In a securitisation, the issue of security is particularly all-encompassing: all of the issuer's rights are secured in favour of a security trustee for the benefit of all the issuer's secured creditors, usually pursuant to a single security deed.
The creation of enforceable security interests over the underlying assets of the issuer (called the 'security package') consequently underpins both the credit and the legal analysis of
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
This Practice Note provides guidance on the SRA Codes of Conduct, contained in the SRA Standards and Regulations, in force from 25 November 2019. The SRA Standards and Regulations include two Codes of Conduct—a Code forSolicitors, RELs and RFLs and a Code for Firms. The Standards and Regulations
Summary assessment is the procedure whereby costs are assessed by the judge who has heard the case or application (see Practice Note: Summary assessment). This Practice Note sets out how to complete a statement of costs using court Form N260 or in such form that closely follows Form N260. It
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.