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Latest Restructuring & Insolvency News

Co-obligor structure deemed ‘good forum shopping’ as court sanctions restructuring plan (Re gategroup Guarantee)

The following Banking & Finance news provides comprehensive and up to date legal information on Co-obligor structure deemed ‘good forum shopping’ as court sanctions restructuring plan (Re gategroup Guarantee)

Trading to the detriment of creditors with no reasonable prospect of the company paying its creditors or avoiding insolvent liquidation (Re Arise Networks Ltd; Official Receiver v Obaigbena)

Latest edition of Corporate Rescue and Insolvency available (April 2021 edition)

The following Dispute Resolution news provides comprehensive and up to date legal information on Latest edition of Corporate Rescue and Insolvency available (April 2021 edition)

Administrators’ appointments—void or defective? (Re Zoom UK Distribution v Rubra)

The following Banking & Finance news provides comprehensive and up to date legal information on Administrators’ appointments—void or defective? (Re Zoom UK Distribution v Rubra)

Featured Restructuring & Insolvency content

Compulsory winding up of a company—the process and procedure

STOP PRESS: The Corporate Insolvency and Governance Act 2020 contains provisions which, on a temporary basis (presently until 31 December 2020) impose...

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For...

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to...

Effect of equitable, contractual and structural subordination

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

Practice notes

Debt for equity swaps

A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...

9th Nov

Practice notes

US ipso facto clauses

Ipso facto clauses definedContracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one...

Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan

Practice notes

Winding-up and administration searches for companies at the Central Registry

STOP PRESS: This Practice Note is being updated for the Corporate Insolvency and Governance Act 2020 (CIGA 2020), which introduces a new insolvency...

Produced in partnership with Stephen Allinson 12th Jan

Practice notes

What is considered onerous property or contracts?

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...

9th Nov

Practice notes

Covenant waivers and resets

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...

9th Nov

Practice notes

Practice Direction on Insolvency Proceedings

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

9th Nov

Practice notes

Loan to value covenants

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...

Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan

Practice notes

Proprietary claims

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

9th Nov

Practice notes

Equitable accounting—how it works in practice

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)...

9th Nov

Practice notes

Court-appointed receivers—when a court will appoint a receiver and who may be appointed

This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may...

Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan

Practice notes

Transactions defrauding creditors—claims under section 423 of the Insolvency Act 1986

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...

9th Nov

In-house

Practice notes

Insolvency set-off—the position under the Insolvency (England and Wales) Rules 2016

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...

Produced in partnership with South Square and BDO LLP 12th Jan

In-house

Practice notes

Key features of securitisation and asset based lending

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....

9th Nov

Practice notes

A guide to independent business reviews

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...

Produced in partnership with Allan Kelly of RSM 12th Jan

Practice notes

Interim receivers

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

Produced in partnership with South Square and BDO LLP 12th Jan

Practice notes

Out-of-court administration appointments by a QFCH—the procedure

Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...

9th Nov

Most recent Derivatives and capital markets products content

Practice notes

Key features of securitisation and asset based lending

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

9th Apr

Practice notes

Impact of credit ratings downgrades

Ratings outlooks and watch-listsThe three main credit rating agents (CRAs), Moody's Investors, Standard & Poor's (S&P) and Fitch Ratings, periodically...

9th Apr

Practice notes

Identifying bondholders and effective communication

Companies, governments and municipalities issue bonds to finance their operations and fund projects. The bond market offers a very efficient way to...

Produced in partnership with Katerina Papamichael of D F King (Europe) Limited 9th Apr

Practice notes

Bonds and notes

The terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be issued either...

9th Apr

Practice notes

Dispute resolution and derivatives

The nature, main types and main uses of financial derivatives are summarised in Practice Notes: The nature of financial derivatives and Types of...

8th Apr

Practice notes

Asset-backed commercial paper and associated structures

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

8th Apr

In-house

Practice notes

Derivatives in structured finance

Management of issuer riskIn structured finance transactions (including securitisations), a special purpose vehicle (an SPV, also referred to as the...

8th Apr

Practice notes

Types of derivatives

The main types of derivatives are:•swaps•forwards •futures, and•optionsThis Practice Note explains the key features of each of the above types of...

8th Apr

Practice notes

Credit derivatives—credit events

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...

8th Apr

Practice notes

The nature of financial derivatives

What is a derivative?A derivative is a type of financial instrument whose value is based upon the value of an underlying asset, index, rate or...

8th Apr

Practice notes

Form of debt securities—global securities

Debt securities, such as bonds, medium-term notes and commercial paper, are financial instruments which acknowledge a debt (see Practice Note: Types...

8th Apr

Practice notes

Enforcement of debt securities

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

8th Apr

Practice notes

Role of a bond trustee

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...

8th Apr

Practice notes

ISDA confirmations

The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...

8th Apr

Practice notes

Derivatives—ISDA documentation framework

The International Swaps and Derivatives Association, Inc. (ISDA) is an association for participants in the derivatives industry. It has developed...

8th Apr

Practice notes

Scope of the ISDA Master Agreement—Section 6 (Early Termination)

ISDA documentsThe 1992 and 2002 ISDA Master Agreements (the Master Agreements) are standard form documents produced by the International Swaps and...

8th Apr

Practice notes

English law v New York law governed ISDA documents

English and New York law are the two most commonly selected governing laws for the International Swaps and Derivatives Association (ISDA)...

8th Apr

Practice notes

What is clearing?

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

8th Apr

Practice notes

Credit ratings

Role The role of credit rating agents (CRAs) is to provide an objective and analytical opinion on the risk of payment defaults by looking at various...

8th Apr

Practice notes

The insolvency remote SPV in structured finance

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...

8th Apr

Derivatives and capital markets products

View Restructuring & Insolvency by content type:

Latest Restructuring & Insolvency News

Co-obligor structure deemed ‘good forum shopping’ as court sanctions restructuring plan (Re gategroup Guarantee)

Trading to the detriment of creditors with no reasonable prospect of the company paying its creditors or avoiding insolvent liquidation (Re Arise Networks Ltd; Official Receiver v Obaigbena)

Latest edition of Corporate Rescue and Insolvency available (April 2021 edition)

Administrators’ appointments—void or defective? (Re Zoom UK Distribution v Rubra)

Featured Restructuring & Insolvency content

Compulsory winding up of a company—the process and procedure

What is a statutory declaration of solvency, and what happens if a false declaration of solvency is made

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016

Effect of equitable, contractual and structural subordination

Most recent Derivatives and capital markets products content

Popular documents

Law of the arbitration proceedings—curial law or lex arbitri (England and Wales)

Claims for use and occupation, mesne profits, double rent and double value

Quia timet injunctions

Qualified one-way costs shifting (QOCS)

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