Amendments, waivers and releases

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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 Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
Practice notes
STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...
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Produced in partnership with Stephen Allinson 12th Jan
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 12th Jan
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
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 12th Jan
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
The Court of Appeal has made it clear in JCAM that a moratorium cannot be obtained through the back door by filing a notice of intention to appoint an...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 12th Jan
Practice notes
This Practice Note looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...
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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 12th Jan
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 12th Jan
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
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
This Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around an IBR•identify when an IBR may be...
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Produced in partnership with Allan Kelly of RSM 12th Jan
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 12th Jan
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
Read More >
9th Nov

Most recent Amendments, waivers and releases content

Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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17th Jan
Practice notes
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...
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17th Jan
Practice notes
It is common for the parties to a facility agreement to want to amend its terms, often a number of times, during the life of the facilities. They may,...
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17th Jan
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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15th Jan
Q&As
This Q&A considers the issues that a lender faces if it requests new security for both new and existing loans as a condition to the advance of further...
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12th Jan
Q&As
There are many reasons why it might be necessary to amend a security document—for example the description of the liabilities secured by the document...
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12th Jan
Q&As
Does a mortgagee have the right to redeem a prior ranking mortgage?This is a fairly complicated area but in short there will be situations in which a...
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12th Jan
Practice notes
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...
Read More >
12th Jan
Practice notes
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company...
Read More >
12th Jan
Q&As
STOP PRESS: On 16 May 2018 in the case of Rock Advertising Ltd v MWB Business Exchange Centres Ltd [2018] UKSC 24, the Supreme Court unanimously held...
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Produced in partnership with Albert Sampson 8th Jan
Q&As
Generally speaking, a deed of release is not necessary in addition to a form DS1 in order to release a charge registered at HM Land Registry.In the...
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Produced in partnership with James Hall of Hardwicke Chambers 8th Jan
Q&As
This Q&A discusses the factors a lender will need to consider if it is asked to waive an event of default under a loan agreement.The following...
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Produced in partnership with Brian Cain 8th Jan
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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23rd Dec
Precedents
[To be printed on the headed paper of the Guarantor][insert date]To: [insert name and address of the lender]Dear [insert full name of lender]1We refer...
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28th Nov
Precedents
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower]Dear [insert full name of borrower]1We refer to...
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28th Nov
Precedents
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower][and][insert name and address of guarantor, if...
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28th Nov
Precedents
[To be printed on the headed paper of the lender][insert date]To:[insert name and address of borrower][and][[insert name and address of guarantor, if...
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28th Nov
Precedents
This Deed is made on [insert day and month] 20[insert year]Parties1[insert name of Lender], a company incorporated in England and Wales with...
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28th Nov
Precedents
This Deed is made on [date]Parties1[insert name of third party security provider], a company incorporated in England and Wales with registered number...
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28th Nov

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