Initial analysis

Initial analysis guidance:

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 requested •...

Practice Note

What is second lien financing? Second lien financing is a form of financing that is principally secured by the same security package as senior or first ranking debt, but...

Practice Note

This Assignment is made on [insert day and month] 20[insert year] Parties 1 [insert name of Assignor], a company incorporated in England and Wales with registered number...

Precedents

The range of funding options open to companies has exploded, resulting in a vast array of different capital and security structures. Before the 2007/8 credit crunch, it...

Practice Note

Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

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

Practice Note

Introduction This Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the Insolvency Act 1986...

Practice Note

An intra-group reorganisation involves the transfer of group company share capital or group assets between two or more companies in the same corporate group. Reasons for...

Practice Note

This Practice Note is intended to provide an overview of company accounts for lawyers specialising in restructuring and insolvency. The scope of this note is confined to...

Practice Note

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

This Practice Note outlines the tax issues that are relevant where creditors seek to enforce their security over the assets of a company, or corporate group, in distress....

Practice Note

The economic climate can lead to instances of distressed debt portfolios changing hands. In such a climate, typically banks seek to reduce their balance sheet exposure to...

Practice Note

This Practice Note outlines the tax issues that should be considered when a company seeks to restructure its external debt obligations. Other Practice Notes in this...

Practice Note

[To be printed on headed notepaper of the lender making demand] To: [Insert name of individual and/or position] [insert name of the Borrower or other relevant entity]...

Precedents

[To be printed on headed notepaper of the lender making demand] To: [Insert name of individual and/or position] [insert name of the Guarantor or other relevant entity]...

Precedents

Coronavirus (COVID-19): In addition to the below content on force majeure generally, see also: • Coronavirus (COVID-19) toolkit—Contracts • Coronavirus (COVID-19) and...

Practice Note

A contract may be frustrated if an unforeseen event occurs after the contract is formed and: • as a result of that event: ◦ the contract becomes impossible to perform...

Practice Note

This Practice Note summarises: • the different forms of share security • the main enforcement options open to security takers • practical considerations for security...

Practice Note

The current restructuring cycle has featured bondholders playing a significant role in many restructuring cases. In previous cycles, high yield bonds featured in some...

Practice Note

A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the demand is seeking to...

Practice Note

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

Practice Note

As part of the government’s ongoing drive to improve corporate transparency and tackle corruption, the UK became the first G20 country to establish a publicly accessible...

Practice Note

Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

This Practice Note provides: • information on the background to the transition away from London Interbank Offered Rate (LIBOR) and other Interbank Offered Rates (IBORs)...

Practice Note

Introduction The Financial Collateral Directive, by its very nature, leaves individual member states free to implement it as they choose. The table below lists the...

Practice Note

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 covenant breach •...

Practice Note

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...

Practice Note

Initial steps Whether you are acting for the debtor, creditor, potential purchaser or shareholder and regardless of which jurisdiction the restructuring takes place in...

Practice Note

Prepared in relation to [name of borrower] (a limited company registered in England and Wales with company number [company number]) Prepared for [name of lender] By [name...

Precedents

A structure chart showing the corporate structure of a borrower together with the security granted in favour of the lender (or other entity) is a helpful way to visually...

Practice Note
Trending Topics
In-House COVID-19