News of the failure of Silicon Valley Bank in the United States has dominated headlines over the last few days. Late yesterday, Friday, 10 March 2023, the Bank of England made an announcement about the status of Silicon...more
3/13/2023
/ Bank of England ,
Banks ,
Commercial Loans ,
Contract Terms ,
Counterparties ,
Deposit Accounts ,
Insolvency ,
ISDA ,
Silicon Valley ,
UK ,
UK Insolvency Act
The return of Crown Preference on 1 December, 2020 has widely united the restructuring community against the new measures. Whilst the rationale that the Treasury should have priority for sums received by a debtor on its...more
The Corporate Insolvency and Governance Act 2020 received royal assent on 25 June 2020. Many of the provisions of the act are based on the bill which was initially proposed pre-COVID-19, with a framework having been set out...more
9/15/2020
/ Board of Directors ,
Breach of Contract ,
Contract Termination ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Goods or Services ,
Insolvency ,
Lenders ,
Moratorium ,
Personal Liability ,
Suppliers ,
Supply Contracts ,
UK ,
UK Companies Acts ,
UK Insolvency Act ,
Winding Up Petitions ,
Wrongful Trading
The Corporate Insolvency and Governance Bill (the Bill) had its first reading in the House of Commons on Wednesday 20 May 2020. It will next be considered on 3 June. It is expected to be enacted into law in late June or early...more
5/28/2020
/ Breach of Contract ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Corporate Restructuring ,
Goods or Services ,
Insolvency ,
Moratorium ,
Proposed Legislation ,
Suppliers ,
Supply Contracts ,
UK ,
Winding Up Petitions
During these unsettled times, there is heightened concern around the implications for borrowers under their secured credit facilities. Broadly these fall into three categories: (1) drawing funds under existing committed...more