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English schemes of arrangement, restructuring plans, insolvency proceedings and the impact of sanctions legislation
This article explores the treatment of sanctioned creditors under English schemes of arrangement and restructuring plans, considering the impact of sanctions legislation on class structures and voting, the receipt of consideration and the impact of disenfranchisement in the context of bond restructurings. Separately, it also briefly considers the treatment of voting rights of sanctioned creditors in bankruptcy proceedings.
24 November 2024Draft Property (Digital Assets etc) Bill: laying the foundations for the development of the common law
In this article, Darragh Connell considers the wording of the draft Property (Digital Assets) Bill and the matters that the legislature has left for the common law to develop.
24 November 2024Loans involving companies limited by guarantee: key issues for consideration
This article summarises key issues relevant to lenders and borrowers in loan financings that involve companies limited by guarantee as a borrower, guarantor and/or security provider.
24 November 2024The asset sales covenant: sometimes when it’s there it’s barely there at all!
In this article Michelle Gilmore-Parry explains how the asset sales covenant in top-tier European leveraged financings has evolved and discusses the key considerations for lenders when reviewing the asset sales covenant and related definitions in leveraged finance documentation.
24 November 2024Crypto exchanges: an update on D’Aloia
In this article Nik Yeo discusses how the recent detailed judgment in D’Aloia v Persons Unknown & Bitkup clarifies and extends some previously established contractual and proprietary principles in relation to liability of crypto exchanges to victims of crypto fraud.
24 November 2024Forewarned is forearmed: thoughts on the impact of an IT systems outage on security registrations at Companies House
The registration of charges granted by UK Companies and LLPs at Companies House is a crucial step in securing their validity and the priority of security interests over the assets of a chargor. However, the strict 21-day filing deadline under the Companies Act 2006 leaves little room for error or delay, including in the event of an IT systems outage affecting the electronic filing services provided by Companies House of third-party portals.
In this article, the authors examine some of the recent incidents that have highlighted the potential vulnerabilities of electronic filing and offer some practical tips and considerations for parties with an interest in a charge in the event there is an IT outage during the period allowed for the registration of a charge.
The Financial Conduct Authority, the court and the Financial Ombudsman Service: who is in charge?
There has never been a more uncertain time for consumer and motor finance firms. There are more and more challenges to the ways in which this multi-billion-pound market operates. These come from consumers, the Financial Conduct Authority, the court and the Financial Ombudsman Service. Firms could be forgiven for feeling they are in a never-ending game of Russian roulette with each actor taking their respective spin of the revolver. So, it begs the question, who is going to come out on top and, ultimately, who is in charge?
24 November 2024Secured claims in French restructurings: lessons from the 2021 reforms and recent large case precedents
In this article, Jean-François Adelle considers the treatment of secured creditors in in-court restructurings following the 2021 reforms.
27 October 2024Blended finance: funding sustainable development with public and private funding
The concept of blended finance is not new. But it is being applied beyond its traditional development and impact finance roots as a way to mobilise scaled private capital flows for the purposes of achieving sustainable development goals. In this article, we look at the different definitions of “blended finance” and how blended finance can be used to combine public and private capital for climate, nature and broad sustainable development purposes.
27 October 2024Security financial collateral arrangements and the crystallisation of floating charges
In this article Jonathan Haines considers whether the crystallisation of a floating charge means that it can qualify retrospectively under the Financial Collateral Arrangements (No. 2) Regulations 2003 (2003/3226) and the impact of that on other creditors.
27 October 2024
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