Restructuring & Insolvency

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  • Neither a lender nor a borrower (nor a guarantor) be? Restricted access

    Article

    Submitted: 20 May 2013

    The decision of the Court of Appeal in National Merchant Buying Society Limited v Andrew Bellamy and Stephen Mallett [2013] EWCA Civ 452 (02 May 2013) provides an important reminder of a fundamental legal difference between “single transaction” and “all obligations” guarantees and of the practical implications which flow from it for both lenders and guarantors.

  • Winding up a branch of an overseas incorporated company in England & Wales Restricted access

    Article

    Submitted: 15 May 2013

    Where a bank is a company incorporated outside the EU but operates in the UK through a London branch, is it possible to obtain a winding up order in England and Wales against the London Branch after the Bank becomes subject to insolvency proceedings in its country of incorporation?

  • The validity of consent solicitation fees examined Restricted access

    Article

    Submitted: 09 May 2013

    A recent Court of Appeal decision has upheld the payment of consent solicitation fees to bondholders in return for voting in favour of certain amendments to the terms of the bonds.

  • Construction Breakfast Briefing: Insolvency: how to deal with an insolvency in your construction project Restricted access

    Seminar

    Submitted: 01 May 2013

    This session formed part of our Construction Breakfast Briefings Spring 2013 Programme, held in our London office on 24 April 2013. This briefing provided some insights into how you can secure your best position even with an insolvency amongst your construction team and highlights what you have to do in a claims situation.

  • Episode 323: Insolvency: how to deal with an insolvency in your construction project

    Video Podcast

    Submitted: 01 May 2013

    Simmons & Simmons partner Alan Gar and associate Mieke Botes discuss how you can secure your best position even with an insolvency amongst your construction team.

  • MAC The Knife Restricted access

    Article

    Submitted: 01 May 2013

    The decision of the High Court in Grupo Hotelero Urvasco S.A. v Carey Value Added S.L. [2013] EWHC 1039 (Comm) (26 April 2013) provides guidance on the judicial interpretation of those clauses which enable a lender to call a default under a facility agreement as the result of the occurrence of a “material adverse change” (MAC) affecting the borrower.

  • Why credit arrangements with profit sharing can seriously damage your wealth Restricted access

    Article

    Submitted: 25 April 2013

    Any contractual arrangement which ties the repayment of a debt to the profit of a debtor may, upon insolvency, be subordinated to the repayment of all other creditors.

  • Episode 320: Claw back actions against financial institutions in Germany

    Video Podcast

    Submitted: 24 April 2013

    Simmons & Simmons partner Regina Rath talks to colleague Paul Goodman about claw back actions against financial institutions in Germany.

  • Financial Collateral Arrangements - are you in control? Restricted access

    Article

    Submitted: 18 April 2013

    An article on the financial collateral arrangements, taking into account the November 2012 decision in the Lehman case.

  • All Change for Charges (An Update) Restricted access

    Article

    Submitted: 18 March 2013

    An update to our article dated 13 February 2013 entitled All Change for Charges.

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