Secondary trading and loan portfolio sales

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Latest Restructuring & Insolvency News

Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

The following Dispute Resolution news provides comprehensive and up to date legal information on Claims arising from a fraudulent investment scheme resulting in corporate insolvency (Biscoe (as joint liquidators of Equitable Law Capital Ltd) v Milner)

Restructuring & Insolvency weekly highlights—15 April 2021

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Restructuring & Insolvency weekly highlights—15 April 2021

Comment—UK lenders square up to tricky task of clawing back Covid-19 loans

The following Banking & Finance news provides comprehensive and up to date legal information on Comment—UK lenders square up to tricky task of clawing back Covid-19 loans

Changes to SIP 13 and SIP 16 and withdrawal of SIP 4

The following Restructuring & Insolvency news provides comprehensive and up to date legal information on Changes to SIP 13 and SIP 16 and withdrawal of SIP 4

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...

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...

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...

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

The deemed consent procedure, decision-making procedure, and meetings—the position under the Insolvency (England and Wales) Rules 2016

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...

Produced in partnership with Richard Bowles 12th Jan

Practice notes

Cashflow and balance sheet tests for insolvency

IntroductionThis Practice Note will give a basic overview of the applicable tests for cashflow and balance sheet insolvency under section 123 of the...

Produced in partnership with South Square 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

Role, powers, functions and duties of a liquidator

Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...

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

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

Prohibited names under section 216 of the Insolvency Act 1986

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...

9th Nov

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

US bankruptcy financing—debtor-in-possession (DIP) financing

DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...

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

In-house

Practice notes

Misfeasance claims under section 212 of the Insolvency Act 1986

What is a misfeasance claim under section 212 of the Insolvency Act 1986?Claims commenced under section 212 of the Insolvency Act 1986 (IA 1986) are...

9th Nov

In-house

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

Most recent Secondary trading and loan portfolio sales content

Precedents

Deed of assignment: for an unsecured bilateral facility agreement

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...

14th Apr

Practice notes

Key issues in loan transfers

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...

14th Apr

Practice notes

Secondary trading of distressed debts

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...

9th Apr

Practice notes

The proper law doctrine for R&I lawyers

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...

9th Apr

Practice notes

The Loan Market Association

Aims of the Loan Market AssociationThe Loan Market Association (LMA) was established in 1996 as a trade body with a key objective of improving...

9th Apr

Practice notes

Loan portfolio sales—legal documentation

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...

8th Apr

Practice notes

Loan portfolio sales—an introduction

This Practice Note provides an introduction to loan portfolio sales, considering in particular the types of portfolios that exist for sale and the...

8th Apr

Practice notes

Transferring a loan by legal assignment

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...

8th Apr

Practice notes

Secondary debt trading—timeline of a typical trade

The timeline outlined below is an indicative time-frame incorporating the various steps required through the process of a typical secondary debt...

Produced in partnership with K&L Gates 8th Apr

Practice notes

Transferring a loan by equitable assignment

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...

8th Apr

Practice notes

Use of information in the secondary debt market for loan trading

This may have an impact on this Practice Note in relation to regulation of the secondary market. For further information, see Practice Note:...

Produced in partnership with Diane Roberts of Reed Smith 8th Apr

Practice notes

Comparing UK and US secondary debt trading markets, with particular reference to the LMA v LSTA recommended terms for secondary trading

The UK and US secondary (private) debt trading markets are very similar when transacted on the suite of documents issued by the Loan Market...

Produced in partnership with Diane Roberts of Reed Smith 8th Apr

Practice notes

Debt buy-backs

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...

8th Apr

Practice notes

Loan portfolio sales—key issues

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...

17th Mar

Practice notes

Transferring a loan by novation

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...

4th Mar

In-house

Practice notes

Transferring a loan by sub-participation

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...

4th Mar

Practice notes

Overview of the key documentation in a typical secondary debt trade

Secondary debt trades in the London market are typically documented through a suite of recommended form of documents produced by the Loan Market...

Produced in partnership with K&L Gates 26th Feb

Precedents

Deed of novation: for an unsecured bilateral facility agreement

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...

1st Feb

Precedents