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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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9th Nov
Practice notes
Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...
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Produced in partnership with Julie Lanz of Skadden Arps Slate Meagher & Flom LLP 9th Nov
Practice notes
IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...
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Produced in partnership with South Square 9th Nov
Practice notes
DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee in bankruptcy (trustee) has the power to disclaim...
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9th Nov
Practice notes
This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 9th Nov
Practice notes
Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal...
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9th Nov
Practice notes
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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9th Nov
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 9th Nov
Practice notes
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square and BDO LLP 9th Nov
Practice notes
BrexitBREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note....
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9th Nov
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Julie Lanz of Skadden Arps Slate Meagher & Flom LLP 9th Nov
Practice notes
What is a misfeasance claim under section 212 of the Insolvency Act 1986?Claims commenced under section 212 of the Insolvency Act 1986 (IA 1986) are...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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Produced in partnership with South Square and BDO LLP 9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov

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Practice notes
General duty of liquidators and administrators where there has been an unlawful transactionIf, during the course of a liquidator's or administrator's...
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26th Nov
Practice notes
What is the Central Registry of Winding-up Petitions?The Central Registry of Winding-up Petitions (the Central Registry) is a computerised register of...
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Produced in partnership with Stephen Allinson 25th Nov
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to acceleration of debt and enforcement of security. The...
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25th Nov
Practice notes
OverviewCovenant 'loose' and covenant 'lite' facilities provoke much debate in the leveraged finance market since they are perceived to indicate that...
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Produced in partnership with Neil Grant 25th Nov
Practice notes
During the term of a facility, the borrower's financial position is likely to fluctuate. Sometimes, its circumstances change to such an extent that it...
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25th Nov
Practice notes
STOP PRESS—Coronavirus (COVID-19) and registration of charges at Companies House: The content of this Practice Note is affected by the Companies etc...
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25th Nov
Practice notes
This Practice Note sets out certain key cases and associated relevant content relating to the validity of security. The cases are divided by topic...
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25th Nov
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to guarantees. The cases are divided by topic area and...
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25th Nov
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to fixed and floating charges. The cases are divided by...
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25th Nov
Practice notes
SummaryA secured creditor has a variety of remedies available to it to realise value from the security. However, it is prudent for any secured...
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25th Nov
Practice notes
STOP PRESS—The Corporate Insolvency and Governance Act 2020 (CIGA 2020) and Coronavirus (COVID-19): CIGA 2020 and changes to court procedures as a...
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25th Nov
Practice notes
STOP PRESS—Coronavirus (COVID-19) and registration of charges at Companies House: The content of this Practice Note is affected by the Companies etc...
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25th Nov
Practice notes
Security over land can be taken by way of mortgage or charge with the appropriate form often depending on the significance of the land to the...
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25th Nov
Practice notes
This Practice Note considers the enforcement options available to lenders where they hold fixed security. In particular it covers:•the options...
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25th Nov
Practice notes
A lender's primary concern is that it is repaid. Even if a lender obtains a judgment for payment of the sum owed to it by its borrower, this does not...
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25th Nov
Practice notes
Competing security interests arise when more than one creditor has taken security over the same asset or group of assets. Determining the order of...
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25th Nov
Practice notes
This Practice Note considers:•the purpose of events of default included in facility agreements•common events of default relating to borrowers and...
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25th Nov
Practice notes
During the term of a facility, a borrower's circumstances can change. Sometimes, a borrower's circumstances change to such an extent that it wants the...
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25th Nov
Practice notes
In addition to ensuring its security has been validity created and perfected, a secured party will want to ensure its security ranks as it expects...
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25th Nov
Precedents
Prepared in relation to [name of borrower] (a limited company registered in England and Wales with company number [company number])Prepared for [name...
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24th Nov

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