Feature
826
Go to page
of
83
A smarter ring-fencing regime: all change?
In this article, Jochen Vester provides an overview, and assessment, of the recent changes to the UK bank ring-fencing regime, that entered into force on 4 February 2025.
02 March 2025The perils of relying on book entries in intra-group loan agreements
Intra-group loan agreements are a common feature of corporate life. For convenience, they are often recorded as simple book entries, rather than formally documented by loan agreements. This article considers the potential benefits and dangers of this practice.
02 March 2025“Red flags” and ostensible authority: reflections on Republic of Mozambique v Credit Suisse & Ors
The question of when an agent has ostensible authority to bind their principal has been the subject of several important decisions in recent years. That question arose again in Republic of Mozambique v Credit Suisse International & Ors [2024] EWHC 1957 (Comm) (Mozambique) in relation to whether the Mozambican finance minister had authority to enter into sovereign guarantees on behalf of the Republic of Mozambique (the Republic) with various lending banks. This article analyses some of the issues that arose in Mozambique in relation to ostensible authority and considers the “red flags” of financial crime relied upon by the Republic as putting the banks on inquiry that the finance minister did not have authority.
02 March 2025Derivatives for private capital managers: hot topics and predicted trends for 2025
This article explores the hot topics and predicted trends for 2025. It is not focused on one particular strategy or sector and will be of interest to private capital managers using English law derivatives documents and/or those which are subject, directly or indirectly, to EU regulation (which includes US managers active in the EU).
02 March 2025Waiver and estoppel arguments against debt enforcement
This article considers arguments of waiver, estoppel and variation that borrowers may raise to resist debt enforcement action, and their interaction with so-called “no oral modification” provisions typically found in finance documentation. It also considers some practical implications of the principles in the banking and finance context.
02 March 2025Conflicts of laws and the ratification of unauthorised acts by agents
The decision in Republic of Mozambique v Credit Suisse [2024] EWHC 1957 is part of a wide-ranging dispute arising from alleged corruption in Mozambique sometimes referred to as the “Tuna Bonds” or “Hidden Debts” affair. This article focuses on the conflict of laws issues raised by the claims brought successfully by Mozambique in these proceedings.
09 February 2025Identifying the place of performance in English law transactions involving foreign banks
The rule in Ralli Bros will excuse non-performance of an English law obligation where performance necessarily involves an act prohibited by the law of the place of performance. However, the courts have not given clear guidance on identifying the place of performance where a foreign bank plays an ancillary role in the performance of such an obligation. While there is good reason to consider that payment of liabilities in a foreign currency, or to a foreign account, necessarily involves performance in a foreign country, each contract or instrument must be carefully examined to determine what precise acts fall to be performed, and where.
09 February 2025National Security and Investment Act 2021: three years later
In this article, Adam Eckersley-Waites reviews some outstanding issues relating to the National Security and Investment Act 2021 relevant to finance practitioners and two recent noteworthy developments.
09 February 2025Insolvency and automatic acceleration in US Chapter 11: to accelerate, or not to accelerate, that is the question
There are two approaches to acceleration following the filing of bankruptcy. On the one hand, a typical US style debt document provides for automatic acceleration on an insolvency event of default. On the other hand, many other jurisdictions typically do not include such automatic acceleration provisions in financing documents. This article discusses the primary differences between the Chapter 11 treatment of a loan that automatically accelerates the debt following an insolvency and a loan in which such acceleration is at the discretion of the lender.
09 February 2025Schrödinger’s property? D’Aloia and the legal superposition of digital assets
In this article, the authors argue that courts must deepen their understanding of digital asset technologies to avoid perpetuating ambiguities evident in the D’Aloia judgment.
09 February 2025
Go to page
of
83
