News & Analysis as of

Secured Debt United Kingdom

Latham & Watkins LLP

Lexology In-Depth - Acquisition And Leveraged Finance

Latham & Watkins LLP on

It was a muted start to the year for the acquisition and leveraged finance market due to a challenging macroeconomic climate. Interest rate hikes at one of the fastest paces on record, surging inflation (particularly in...more

Latham & Watkins LLP

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

Latham & Watkins LLP on

Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more

Dechert LLP

Amicus Finance plc (in administration): High Court sanctions first mid-market restructuring plan, despite the opposition of...

Dechert LLP on

On the 19th of August 2021, the English High Court sanctioned a Part 26A restructuring plan proposed by the administrators of Amicus Finance plc (in administration) (“Amicus”) for the company’s solvent exit from...more

BCLP

Marking your letter “subject to contract”: what does the label mean? Recent English Court of Appeal judgment

BCLP on

It is not uncommon to start a correspondence with a “subject to contract” label. But what does this mean? What is its legal effect?...more

Hogan Lovells

Security is not "enforceable" if a required creditor consent has not been obtained

Hogan Lovells on

The recent English case Arlington Infrastructure Ltd (in administration) and another v Woolrych and others demonstrates the importance of a secured creditor obtaining any consent necessary under the terms of intercreditor...more

White & Case LLP

Anglo-American relations: A special relationship with subtle differences

White & Case LLP on

Much has been written about the influence of US terms on European transactions and particularly the steady migration of US concepts into English law facilities agreements, resulting from the supply-demand imbalance in the...more

Dechert LLP

Focus on Restructuring Processes: CVAs and Liquidation in the context of Carillion

Dechert LLP on

In recent months certain restructuring processes have gained quite some notoriety in press headlines in connection with a number of UK businesses. This article provides secured lenders with a brief recap on the key points to...more

Hogan Lovells

Administration appointment valid notwithstanding crystallisation of prior-ranking floating charge

Hogan Lovells on

In a decision that will be welcomed both by second-ranking secured creditors and by administrators, the Court of Appeal recently held that a second-ranking floating charge (SRFC) was still capable of being a qualifying...more

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