Day-to-day practical issues

Day-to-day practical issues guidance:

In the initial stages of distress, the lending group or creditors' committee may request that an independent chief restructuring officer (CRO) is appointed within the...

Practice Note

Comfort letters are encountered in finance transactions relatively often. They take different forms and it is important from both the lender's perspective and the...

Practice Note

This Agreement is made [insert day and month] 20[insert year] Parties 1 [insert name of debtor company] a company incorporated in [insert country eg England and Wales]...

Precedents

In any insolvency situation, there are a number of parties involved that require legal advice and, in certain circumstances, parties with common interests may choose to...

Practice Note

Crypto–assets—the basics In its simplest form, cryptoassets are a virtual currency which uses encryption to verify transactions denominated in that currency. Payments...

Practice Note

Although suppliers are generally unsecured creditors (unless they establish a valid retention of title (ROT) claim) they may be key to a successful turnaround or pre-pack...

Practice Note

Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them. Generally creditors closest...

Practice Note

The Financial Services and Markets Act 2000 (FSMA 2000) creates a range of criminal and civil/regulatory offences. For further information on civil/regulatory breaches...

Practice Note

The popularity of financing business through the invoice discounting and factoring of receivables has grown significantly in the UK over the last 25 years. Invoice...

Practice Note

When restructuring is being considered, the company must ensure that relevant creditors quickly enter into a confidentiality agreement or non-disclosure agreement (NDA)...

Practice Note

Legal opinions are used in the vast majority of financing transactions. They are usually either a condition precedent to funding or a condition precedent to the signing...

Practice Note

Insider dealing and market manipulation can constitute market abuse. In the UK, there are two distinct regimes running alongside each other which regulate and enforce...

Practice Note

In finance transactions, the terms 'netting' and 'set-off' are sometimes used interchangeably even though they are not the same thing. The confusion comes from the fact...

Practice Note

Creditors are often keen to establish proprietary claims as they create rights in rem (which attach to the property itself) rather than personal claims (which just attach...

Practice Note

This Practice Note considers retention of title clauses, also known as reservation of title, ROT or Romalpa clauses. It considers the uses and limitations of retention of...

Practice Note

1 Title and risk 1.1 Risk in the Goods will pass to the Buyer [on [completion of] delivery OR when the Goods are transferred to the carrier]. 1.2 Title to the Goods will...

Precedents

Insolvency and restructuring professionals have grown up in an environment where they have generally confined communication (both internal and external) to what is...

Practice Note

The Insolvency (Protection of Essential Supplies) Order 2015 (I(PES)O 2015), SI 2015/989 was made on 26 March 2015 and, in accordance with article 1(1), came into force...

Practice Note

BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on the...

Practice Note