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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
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
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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9th Nov
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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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
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
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...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan
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
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 Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
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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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...
Read More >
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 Initial analysis content

Practice notes
This Practice Note provides:•information on the background to the transition away from London Interbank Offered Rate (LIBOR) and other Interbank...
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9th Apr
Practice notes
There are various types of share capital and the main differences are summarised below:Authorised share capitalIssued share capitalAllotted share...
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9th Apr
Practice notes
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...
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Produced in partnership with Paul Sidle of Linklaters, Richard Bussell of Linklaters and Rebecca Jarvis of Linklaters 9th Apr
Practice notes
Companies, governments and municipalities issue bonds to finance their operations and fund projects. The bond market offers a very efficient way to...
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Produced in partnership with Katerina Papamichael of D F King (Europe) Limited 9th Apr
Practice 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...
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9th Apr
Practice notes
This Practice Note is intended to provide an overview of company accounts for lawyers specialising in restructuring and insolvency. The scope of this...
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Produced in partnership with Sam Fenwick of Moon Beever and Bee Lean Chew of Wilder Coe Ltd 9th Apr
Practice notes
This Practice Note outlines the tax issues that should be considered when a company seeks to restructure its external debt obligations.Other Practice...
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Produced in partnership with Jenny Doak of Weil Gotshal & Manges LLP 9th Apr
Practice notes
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...
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Produced in partnership with Jenny Doak of Weil Gotshal & Manges LLP 9th Apr
Practice notes
Coronavirus (COVID-19): In addition to the below content on force majeure generally, see also:•Coronavirus (COVID-19) toolkit—Contracts•Coronavirus...
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8th Apr
Practice notes
Coronavirus (COVID-19): In addition to the below content on force majeure generally, see also:•Coronavirus (COVID-19) toolkit—Contracts•Coronavirus...
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8th Apr
Practice notes
An intra-group reorganisation involves the transfer of group company share capital or group assets between two or more companies in the same corporate...
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8th Apr
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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8th Apr
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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Produced in partnership with Neil Grant 8th Apr
Practice notes
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...
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Produced in partnership with Ian Chin of Morrison & Foerster 8th Apr
Practice notes
The security agentIn a syndicated loan transaction, the security agent (sometimes also known as the security trustee) (the Security Agent) will hold...
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8th Apr
Q&As
Why might a secured party want a floating charge to qualify as a financial collateral arrangement?Where a charge qualifies as a 'security financial...
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8th Apr
Q&As
This Q&A describes the remedy of appropriation conferred upon a security holder of shares by the Financial Collateral Arrangements (No 2) Regulations...
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Produced in partnership with Brian Cain 8th Apr
Precedents
This Assignment is made on [insert day and month] 20[insert year]Parties1[insert name of Assignor], a company incorporated in England and Wales with...
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8th Apr
Practice notes
Entry conditionsFor informal restructuring to be an option (as opposed to a restructuring using one of the formal restructuring tools such as a Part...
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8th Apr

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