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An account of profits: when if ever in commercial banking claims?
In this article, Ian Bergson considers the question when, if ever, an account of profits will be ordered in a commercial banking claim, in light of the recent Commercial Court decision in ECU Group plc v HSBC Bank plc [2021] EWHC 2875 (Comm).
19 March 2024Lessons from the SVB collapse for banking regulation
In this article Avinash Persaud considers the more immediate and the lasting lessons from the recent bank crisis.
19 March 2024The growing emergence of competitive tension in the liquidity market
In the current climate, borrowers are more likely to encounter liquidity issues rather than covenant breaches and are increasingly turning to private credit for time-sensitive cash injections, primarily due to the flexibility private credit providers offer. As these new creditors enter the debt stack, conflicts between them and existing creditors may well emerge. Sponsor-backed borrowers are increasingly deploying tactics popularised in the US to prime existing lenders who fail to follow their money. However, the need for new money to have super-seniority, to benefit from downside protection and obtain access to upside recoveries requires creative structuring.
19 March 2024Board minutes after Sequana: practical advice for the corporate drafter
In this article, in light of the decision in BTI 2014 LLC v Sequana SA [2022] UKSC 25, Philip Morrison seeks to offer practical advice, including which considerations should be included, when drafting board minutes.
19 March 2024ESG integration in private debt
In this article, the authors consider specific issues pertinent to ESG integration in private debt funds, including the size of the private debt borrowers and the need to respond both at fund level and in the form of the loan products.
19 March 2024Crypto headwinds: an overview of regulations in Singapore, the EU, UK and US
This article provides an overview of the recent developments in the regulation of cryptoassets across several jurisdictions, with a focus on consumer protection and stablecoin regulation. The importance of regulating cryptoassets has been underscored by their growing market capitalisation. Discussions for bespoke stablecoin regulations are also underway, as regulators become increasingly cognisant of the potential for stablecoins to be incorporated into mainstream financial systems. This article examines the cryptoassets regulatory proposals which have been made across various jurisdictions, and highlights opportunities for harmonisation of such regulations on an international front.
19 March 2024What really happened in legal history
Why is it that the three major Western European legal philosophies, which inspired over 85% of the world’s jurisdictions, are so different in their outcome in business law?
19 March 2024The Great Game: UK financial services and the Edinburgh Reforms programme
In this article the author considers the proposed extensive programme of legislative reform and whether the UK government have taken the right approach.
19 March 2024Documenting SLLs: a comparison of the LMA/LSTA approach to sustainability provisions
In this article the authors consider the more interesting provisions in the standard sustainability-linked loan riders recently published by the Loan Market Association (LMA) and the US’ Loan Syndications and Trading Association (LSTA) and compare and contrast the approach they have taken.
19 March 2024
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