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Financial Services Industry Insolvency United Kingdom

Conyers

Key Takeaways from Airline Economics Dublin 2025

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The 2025 Airline Economics Conference in Dublin highlighted several key trends and challenges currently shaping the aviation industry, with a particular focus on the leasing sector, sustainability, profitability, and...more

Cadwalader, Wickersham & Taft LLP

European Restructuring: 2024 in Review and Outlook for 2025

Market - overview Whilst Europe did not witness the flood of restructuring and insolvencies some had predicted at the start of the year, 2024 was a significant year nonetheless. Many commentators now predict an extended...more

A&O Shearman

UK Legal Statement on Digital Assets and English Insolvency Law

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The UK Jurisdiction Taskforce (UKJT) has published a Legal Statement on Digital Assets and English Insolvency Law. The main findings are that digital assets are within the definition of "property" in the U.K. Insolvency Act...more

Mayer Brown

UK Government consults on new rules to recapitalise small banks in resolution – What does this mean for potential buyers of...

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What is the government proposing? The UK government (“HM Treasury”) has launched a Consultation setting out its proposals to amend the UK special resolution regime (“SRR”) to direct that the UK depositor guarantee scheme...more

Conyers

Beyond the Betrayal: Navigating Strategies for Victims of APP Fraud

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Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more

Morgan Lewis

English High Court Takes ‘More Nuanced Approach’ to Difference Between Fixed and Floating Charges

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The English High Court provided guidance on 25 April 2023 in Re Avanti Communications Limited to determine whether a charge is a fixed charge or a floating charge. The distinction between a fixed charge and a floating charge...more

White & Case LLP

Silicon Valley Bank UK Limited – Sale to HSBC UK Regulatory Considerations

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On Monday March 13, 2023, the Bank of England announced that Silicon Valley Bank UK Limited has been sold to HSBC UK Bank Plc. The situation remains fluid, and the following Q&A reflects our understanding as of Monday...more

Cooley LLP

‘Party To’: the Scope of Section 213 of the Insolvency Act 1986

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In Tradition Financial Service Ltd v Bilta (UK) Ltd & Others, the Court of Appeal considered the scope of section 213 of the Insolvency Act 1986 (the ‘Act’) and, specifically, whether those beyond the small group of...more

Latham & Watkins LLP

E-Money, Payment Services, and Insolvency

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Consumers and service providers should take note of some of the enhanced risks upon an e-money institution’s insolvency. Technology is rapidly changing the way customers and businesses interact with financial systems....more

K&L Gates LLP

UK National Security and Investment Act—Considerations for Sellers of Shares and Assets

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Executive Summary - The UK National Security and Investment Act (the Act) came into force on 4 January 2022, and applies to transactions that completed as of 11 November 2020. The Act is designed to govern arrangements that...more

Katten Muchin Rosenman LLP

Guidance for Insolvency Practitioners: Financial Conduct Authority's Update on Regulated Firm Restructurings and Insolvencies

On Thursday, 22 September 2022, the UK Financial Conduct Authority (FCA) held a webinar and Q&A session aimed at clarifying the FCA's expectations of office holders, lawyers and consultants navigating insolvencies and...more

Cadwalader, Wickersham & Taft LLP

UK Treasury Opens Consultation into Proposed Insolvency Regime to Manage Failure of Stablecoin Firms

On May 31, 2022, the UK Treasury announced a consultation on the government’s proposals to manage the failure of systemic digital settlement asset (“DSA”) (including stablecoin) firms by adapting the existing Financial Market...more

Akin Gump Strauss Hauer & Feld LLP

Restructuring Watch - April 2022

In this edition of Restructuring Watch, we reflect on the first court decision on the moratorium procedure, some recent schemes and restructuring plans, the lifting of the remaining pandemic-related restrictions for...more

Hogan Lovells

Global Payments Newsletter, November 2021

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Key developments of interest over the last month include: Nigeria: eNaira digital currency launched United Kingdom: PSR publishes final report on card-acquiring services market review United States: Federal Reserve launches...more

Hogan Lovells

Securities and markets regulatory news, July 2021

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Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 The Markets in Financial Instruments (Capital Markets) (Amendment) Regulations 2021 (SI 2021/774) have been published, together with an...more

K&L Gates LLP

New UK Insolvency Regime For Payment Institutions and Electronic Money Institutions

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EXECUTIVE SUMMARY - On 26 April 2021, draft Payment and Electronic Money Institution Insolvency Regulations (Regulations) were brought before the UK Parliament for approval. They will introduce a new special administration...more

Hogan Lovells

Payments regulatory news, April 2021 # 4

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Draft Payment and Electronic Money Institution Insolvency Regulations - Recent regulatory developments focussed on the payments sector. See also our Financial institutions general regulatory news of broad relevance in the...more

Jones Day

A Multifaceted Maze: The FCA's Role and Powers in Distressed Situations

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The last five years have seen a substantial increase in the number and variety of regulated firms operating in the United Kingdom, with the development in particular of financial services provided by new technology firms,...more

Morgan Lewis

HM Revenue & Customs to Get Preferential Status as of 1 December 2020

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With effect from 1 December 2020, the UK’s HM Revenue & Customs will be given preferential creditor status for certain taxes which a company has collected but failed to pay to HMRC on the date it enters insolvency. This was...more

Morrison & Foerster LLP

English Court Provides Guidance on Director Liability for Dividends - The High Court decision in Burnden Holdings clarifies the...

A recent decision of the High Court of Justice in England & Wales in Re Burnden Holdings (UK) Limited (in liquidation) [2019] EWHC 1566 (Ch) (“Burnden Holdings”) provides a thorough review of English dividends law, including...more

Jones Day

Bill Preparing for a "Hard" Brexit Presented in French Parliament

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The Situation: The French government has presented a new bill in order to prepare for a "Hard" Brexit scenario. The Result: If the United Kingdom leaves the European Union in March 2019 without an overall deal—or with a...more

Hogan Lovells

Expect the Unexpected: The Year Ahead for the Financial Institutions Sector

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With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the...more

A&O Shearman

HM Treasury Consults on New Rules for Financial Market Infrastructure Special Administration Regime

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HM Treasury published a consultation paper on rules for a financial market infrastructure special administration regime. A form of special administration for certain financial market infrastructure companies, excluding...more

Orrick, Herrington & Sutcliffe LLP

Brexit - What Now For Your Business

So, the UK has voted to leave the EU. Everyone has their own opinion and we've all seen the news reports and various viewpoints but what does this result mean for you in practical terms and where do we go from here? Here's...more

Proskauer Rose LLP

Brexit – No Short Term Regulatory Change but Significant Longer Term Implications

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The United Kingdom (UK) has voted to leave the European Union (EU). Although the vote will have long term implications, in the short term there will be no change to the current legal and regulatory status quo; the UK will...more

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