Secondary trading and loan portfolio sales

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Practice notes
The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide for a revised scheme for decision making in insolvency from 6 April...
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Produced in partnership with Richard Bowles 23rd Oct
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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22nd Oct
Practice notes
A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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15th Oct
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 15th Oct
Practice notes
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...
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15th Oct
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 Oct
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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5th Oct
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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27th Sep
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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26th Sep
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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26th Sep
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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25th Sep
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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25th Sep
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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25th Sep
Practice notes
Senior creditors will ensure that in addition to having higher security rights over junior creditors, juniors are also subordinated to them.Generally...
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25th Sep
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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25th Sep
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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25th Sep

Most recent Secondary trading and loan portfolio sales content

Practice notes
Aims of the Loan Market AssociationThe Loan Market Association (LMA) was established in 1996 as a trade body with a key objective of improving...
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25th Sep
Practice notes
Novation is a means by which a lender can transfer its interest in a loan to another lender.This Practice Note looks at what is meant by novation...
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25th Sep
Practice notes
Assignment is a means by which a lender can transfer its interest in a loan to another lender.For an overview of the reasons why a lender might...
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25th Sep
Practice notes
Secondary debt trades in the London market are typically documented through a suite of recommended form of documents produced by the Loan Market...
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Produced in partnership with K&L Gates 25th Sep
Practice notes
Sub-participation is a means by which a lender can transfer its risk in a loan to another lender. For an overview of the reasons why a lender might...
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25th Sep
Practice notes
The timeline outlined below is an indicative time-frame incorporating the various steps required through the process of a typical secondary debt...
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25th Sep
Practice notes
The UK and US secondary (private) debt trading markets are very similar when transacted on the suite of documents issued by the Loan Market...
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25th Sep
Practice notes
This Practice Note provides an introduction to loan portfolio sales, considering in particular the types of portfolios that exist for sale and the...
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25th Sep
Precedents
This Deed is made on [insert day and month] 20[insert year]Parties1[insert name of Transferor] of [insert address] (the Transferor);2[insert name of...
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26th Sep
Practice notes
There are times when a lender might want to get back some of the money it has lent to a borrower before the borrower is due to repay it.If the...
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26th Sep
Practice notes
Assignment is a means by which a lender can transfer its interest in a loan to another lender.For an overview of the reasons why a lender might...
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26th Sep
Practice notes
The ability of borrowers, members of the borrower group or the sponsor (or affiliates of the sponsor) to buy back loans became a live issue when the...
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26th Sep
Practice notes
This Practice Note provides an overview of the main legal documentation which may be used to conclude the disposal of a loan portfolio and suggests...
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26th Sep
Precedents
[To be printed on the headed paper of the LENDER (THE ASSIGNOR)][insert date]To: [insert full name and address of borrower]Dear [insert name of...
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7th Oct
Precedents
This Deed 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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7th Oct
Practice notes
The proper law doctrine provides that the discharge of a debt may only properly be determined by the governing law of the debt. As such, and subject...
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Produced in partnership with Skadden Arps Slate Meagher & Flom (UK) LLP 15th Oct
Practice notes
This Practice Note considers some of the key issues which can arise on a loan portfolio sale and which may be relevant to banking law practitioners...
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16th Oct
Practice notes
Companies which are starting to show signs of distress often see their debt being traded on the secondary market at prices below par/face value. The...
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19th Oct
Practice notes
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...
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Produced in partnership with Diane Roberts of Reed Smith 19th Oct

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