News & Analysis as of

Financing United Kingdom

Cadwalader, Wickersham & Taft LLP

Navigating the Grey Area, March 2025 - Navigating the Grey Area: Financial Covenant Amendments and the Doctrine of Purview

The doctrine of purview under English law plays a critical role in determining whether amendments to a secured facility require reaffirmation or re-execution of guarantees and security. However, when it comes to adjustments...more

Latham & Watkins LLP

Infrastructure Insights - January 2025: An update on legal and regulatory developments impacting European infrastructure players.

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As the renewable energy sector expands, significant storage capacities are necessary to ensure that the demand for electricity is met even during dark and windless periods. Large battery systems are a particularly interesting...more

A&O Shearman

Contractual Interpretation: eSIMplified

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In Kigen v NOR Capital, the High Court was asked to interpret a clause to determine whether a “Success Fee” was payable by one party to the other. In a useful illustration of how to apply the established principles of...more

Cadwalader, Wickersham & Taft LLP

The FCA Weighs In: Hopcraft, Wrench & Johnson Case Sends Ripples Through Motor Finance

In October, the English Court of Appeal (the “Court”) in its landmark case Hopcraft, Wrench & Johnson [2024] EWCA Civ 1282, ruled it was unlawful for car dealers to receive commission from motor finance providers, unless such...more

White & Case LLP

Robust refinancing activity bolsters high yield rebound

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High yield bond issuance in the US and Europe has made strong gains as issuers return to the market to refinance at more attractive rates - High yield bond markets in the US and Europe made strong gains through the first...more

Latham & Watkins LLP

Landmark Minerals Security Partnership Finance Network Established for Critical Minerals Projects

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The new financing initiative aims to enhance collaboration amongst export credit agency and development finance institutions to support financing for critical mineral projects....more

ArentFox Schiff

Global Perspective on Patenting of AI Technologies

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The rapid advancement of artificial intelligence (AI) technologies is fueling a surge in global patent filings for AI-related innovations, but differences in national patent laws and examination standards for such inventions...more

Paul Hastings LLP

The Legal 500’s Restructuring & Insolvency Comparative Guide

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Our London Financial Restructuring team authored the UK chapter of the 8th Edition of The Legal 500’s “Restructuring & Insolvency Comparative Guide". The guide provides information on the current issues affecting...more

Cadwalader, Wickersham & Taft LLP

What’s in a Name? When Does an Option Agreement Not Grant an Option?

In the recent decision of Krishnamohan v HMRC [2024] UKFTT 346 (“Krishnamohan”) the UK’s First-tier Tribunal (“FTT”) recently held that the granting of a revocable option did not give rise to the granting of an option for UK...more

Cadwalader, Wickersham & Taft LLP

Insights From the PRA’s Thematic Review of the Treatment of Risk in Private Equity Financing

On 23 April, the UK’s banking regulator, the Prudential Regulation Authority (“PRA”), published a letter to Chief Risk Officers setting out the results of a thematic review of private equity related financing activities....more

Cadwalader, Wickersham & Taft LLP

Government response to consultation on Building Safety Levy suggests it may not just apply to ‘higher-risk buildings’ in England

In this article, we discuss the key findings from the UK government’s response to the consultation on its new powers to impose a ‘Building Safety Levy’ (“Levy”) under the Building Safety Act 2022 (“BSA 2022”)....more

Cadwalader, Wickersham & Taft LLP

Finance Bill 2023-2024 Introduces Changes to REIT Rules

Amendments to the UK real estate investment trust (REIT) rules were introduced in the new Finance Bill 2023-2024, which is expected to become law in the summer of 2024. Published on 29 November 2023, the amendments reaffirm a...more

Latham & Watkins LLP

In Practice: Private Portfolio Financings on the Rise

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In this article the authors consider the benefits of private portfolio financings in light of challenging conditions for CLO issuance. Originally published in Butterworths Journal of International Banking and Financial Law...more

Cadwalader, Wickersham & Taft LLP

The Economics of Biodiversity: UK Introduces Sweeping Inquiry Into Role of Private Finance in Nature Recovery

In August 2023, the UK Parliament’s Environmental Audit Committee launched an inquiry into the current and future role of private finance in nature recovery, in order to meet its goal of reaching Net Zero by 2050 while...more

Latham & Watkins LLP

When Does an Event of Default Cease to Be Continuing

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The High Court’s decision in relation to an ISDA Master Agreement will likely guide interpretation of other English law-governed financing documentation. Prior to entering into administration, Lehman Brothers...more

Latham & Watkins LLP

OECD Announces Reform of the Arrangement on Officially Supported Export Credits

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The Reform will extend tenors and reduce borrowers’ fees to encourage commercial bank lending into energy transition projects. The Organisation for Economic Co-operation and Development (OECD) has agreed a landmark deal...more

BCLP

Financing losses and interest - simple pleasures or compounding the misery?

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It has long been a mystery to economists, accountants and business people why lawyers have regard to simple interest in commercial cases, in circumstances where companies generally do not (and cannot) borrow money on a simple...more

Cadwalader, Wickersham & Taft LLP

Hedging in UK Real Estate Finance Transactions - Part 2

Following our article from last month, we continue with our discussion on hedging in real estate financing transactions by discussing the frequently negotiated tension points between the facility agreement and the Hedging...more

Seward & Kissel LLP

Economic Sanctions and the Russian Oil Price Cap Policy

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Background - As the Russia-Ukraine war approaches its one-year anniversary with no end in sight, U.S., EU and UK authorities, among other nations, continue to exert calculated but sustained pressure on the Russian...more

Cadwalader, Wickersham & Taft LLP

No Celebrations - March 2022 - Navigating the Latest on Russia Sanctions – A Perspective from European Real Estate Financing

It’s been just over a month since Russia launched its invasion of Ukraine, and, along with the atrocities of the war hitting the headlines, a whole host of countries, led by the United States, United Kingdom and European...more

Pillsbury Winthrop Shaw Pittman LLP

Establishing and Managing a Business in the UK 2022

Overseas investors are welcome in the UK. Save as set out below, there are no specific laws prohibiting foreign investment in the UK nor are there any business requirements for UK participation in the ownership or management...more

White & Case LLP

Managing construction risks in Asia-Pacific: Singapore

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With a significant and coherent body of case law on construction disputes, Singapore is a hub for resolving many construction disputes across the Asia-Pacific region. Singapore is a vibrant country in Southeast Asia. With...more

White & Case LLP

Managing construction risks in Asia-Pacific: Malaysia

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With its strategic location and significant natural resources, Malaysia is an internationally recognized investment-friendly jurisdiction with a significant construction industry. Malaysian law offers procedural safeguards...more

White & Case LLP

UK M&A reaches new highs despite headwinds

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Favorable valuations are fueling opportunistic purchases by overseas bidders- Spiraling COVID rates, supply chain issues and food and fuel shortages have all hit the headlines in the months since the end of the Brexit...more

Cadwalader, Wickersham & Taft LLP

Real Estate Reserves October 2021 - Limited Recourse Finance Series, Part 4: Other Common Issues in Limited Recourse Structures

In the final part of this four-part series, we explore some of the common issues that may arise in limited recourse structures, as well as ways to address or mitigate the risks and costs....more

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