Kategória: LexisNexis

Beküldve:

Butterworths Journal of International Banking and Financial Law 2025/7

Spotlight

  • Trevor Clark: Clarity versus confusion in leveraged finance: Part 1 (431)

Feature

  • Georgia Quenby: Is there room for more than one concept of Material Adverse Change in your Facility Agreement? (436)
  • William Wilson, Charlotte Ward: You can dip twice but can you only prove once? The insolvency implications of “double dip” transactions (440)
  • Charlotte Eborall: Atishoo, atishoo: we all fall down? Implications of business disposals upon cessation of business clauses (444)
  • Philip Wells, Ella Richards: Creative class composition: the hunt for the anchor class (447)
  • Lee Federman, Mamoun Shafi: Layering it on thick: the evolution of the super senior intercreditor agreement (450)
  • Henry Warwick, Vishnu Patel: Conspiracy theories: unlawful means conspiracy and the problem of private rights (452)
  • Etay Katz, Simon Williams: Tokenisation of investment funds: some legal challenges (455)
  • Piers Reynolds, Laura Feldman: Financial crime reforms creating new risks and challenges for firms (459)
  • Matthew Weaver, Andrew Brown: “Make-whole” clauses under Ch 11 and Pt 26A restructuring plans (463)
  • Cecily Crampin, Daniel Black: Will lenders have confidence to lend against commonhold? (466)
  • James Clarke, Ben Ko: The continuing inviolability of standby letters of credit (469)
  • Dil-veer Kang, Ben Regnard-Weinrabe, Anna Lewis-Martinez, Rory Copeland: A guide to virtual IBANs and their regulation (473)
  • Arut Kannan: Revitalising European securitisation: a French perspective (476)
  • Panpan Sun: Can a watchdog retreat revitalise the London market? (482)

In Practice

  • Adam Burk, Ben Saunders: Specialty finance to securitisation (485)
  • Anna Nolan, Stephen Blank: Third-party releases and cross-border restructurings: enforceability of UK-issued nonconsensual third-party releases in the United States (489)
  • Helen Coverdale, Nick Grandage: A Brexit re-set? How will the UK’s accession to the 2019 Hague Convention impact English legal opinions? (491)
  • Johnny Lim, Han Ming Ho, Michael Kwan, Shawn Tan: Singapore’s equities market: a new dawn for capital raising and investing? (493)

Regulars

  • Case Analysis by Verulam Buildings (495)
  • Regulation Update by Norton Rose Fulbright (498)
  • Market Movements by CMS (504)
  • Deals (506)
  • Legal Ease with Lexis+® UK (507)
  • International Briefings from China and Denmark (508)
Beküldve:

Butterworths International Banking and Financial Law 2025/6

Spotlight

  • Richard Salter: Preserving guarantor liability: another look (363)

Feature

  • Lindsay Hingston, Georgina Peters: Waving not drowning: Thames Water clarifies approach to out of the money creditors (367)
  • James Hall, William Golightly: Schrödinger’s Deed: can an instrument be two things at once? (372)
  • Joseph Wigley: The LMA insolvency events of default clause: potential pitfalls and how to avoid them (375)
  • Jenny Doak, Stuart Pibworth: No guarantees: UK corporation and withholding tax complexities of guarantees (378)
  • Ferdisha Snagg, Yasmin Frischmeier: Cryptoasset regulation: a comparative analysis of UK and EU regimes (382)
  • Ben Dulieu: Convertible bonds: a valuable funding tool in volatile markets (385)
  • Isabel Tinsley, Ioanna Varra: The Law of Property Act 1925 turns 100 this year: Happy Birthday! (388)
  • James Greeen, Christian Pilkington, Hannah Langley: Splitting the difference: transfer of assets and liabilities in restructurings to reset business profile (392)
  • Cristiano Borgogna: EMIR 3.0, post-trade risk reduction services and the initial margin threshold: an unintended consequence (394)
  • Matt Dunn, Toby Mann: The LMA’s guidance on fallbacks to interbank term rates: a call to arms (396)
  • David Bunting: Ups and downs of the EU Benchmarks Regulation (399)
  • Oliver Völkel: MiCA: unresolved questions (403)
  • Matthew E Schernecke: Climate risk in the commercial real estate market (407)

In Practice

  • Charles Morris: Intermediated guarantees as unfunded credit protection (409)
  • Suzana Sava-Montanari, Christopher Sullivan: EU proposed securitisation disclosure reforms: is the remedy worse than the affliction? (411)
  • Fiona Henderson, James Dickie, Laura Collins: E-money: operational solutions to blocked accounts in financing (413)

Regulars

  • Competition Law Update by Kirkland & Ellis (414)
  • Case Analysis by Hogan Lovells and Essex Court Chambers (415)
  • Regulation Update by Norton Rose Fulbright (420)
  • Market Movements by CMS (423)
  • Deals (425)
  • Legal Ease with Lexis+® UK (426)
  • International Briefings from the Netherlands (427)
Beküldve:

Butterworths Journal of International Banking and Financial Law 2025/4

Spotlight

  • Duncan Sheehan: Cryptoassets are choses in action (231)

Features

  • Stephen M Blank, Ken Rothenberg, Phillip D Taylor: Understanding co-operation agreements: current boom, fundamental issues and latest trends (234)
  • Nik Yeo: Cryptoassets as loan security (237)
  • Simon Clarke, Nihar Lovell, Catherine Bagge: Hedging: where is the dividing line? (242)
  • Nick Cusack, Susan Whitehead, Alistair Handy: In sickness and in health: a review of transfer provisions in European leveraged loan agreements (244)
  • Andrew Kinnes, Hamish Patrick: Scotland’s new statutory pledge: taking security over shares (247)
  • Qalid Mohamed, Mhairi Caminiti: Non-bank financial intermediaries (NBFIs): leverage, liquidity and interconnectedness (251)
  • Giles Allison, Haafiz Suleman, Laura Hasson, Jack Robinson, Seraphina Monson: The expanding nature of undervalue transactions: recent cases and practical issues (255)
  • Cameron Roper, Paul Tannenbaum: Navigating the impact of portfolio company distress events under NAV facilities (259)
  • Faizal Khan, Teha Gausel: Transfer restrictions in the age of synthetic credit risk transfer: time for a re-assessment? (261)
  • Stephen Tobin: Considerations for lenders to infrastructure assets (263)
  • Andrew McClurg: Debt financing transactions in Northern Ireland: what practitioners need to know (265)
  • David Shone, Rufus Sachdev-Wood: Bank Resolution (Recapitalisation) Bill: good policy, bad politics? (268)
  • Callum Reid-Hutchings: Freezing the status quo: a critical analysis of 2024’s watershed moments in freezing injunction jurisprudence (270)

In Practice

  • Robert Brittain: Wirral v Indivior: a setback for securities law class actions (273)
  • Tirsh O’ Donnell, Mahrnaz AFshar, India Peterson: A defining moment for US digital asset policy (274)
  • Stuart Neely, Lise Smit: Business and human rights developments in the financial sector (275)

Regulars

  • Case Analysis by 3 Verulam Buildings (276)
  • Regulation Update by Norton Rose Fulbright (280)
  • Market Movements by CMS (284)
  • Deals (286)
  • Legal Ease with Lexis+® UK (287)

Beküldve:

Butterworths Journal of International Banking and Financial Law 2025/2

Spotlight

  • Julius Grower, William Day: Credit brokers as fiduciaries, and consequences for lenders: Part 1 (75)
  • Julius Grower, William Day: Credit brokers as fiduciaries, and consequences for lenders: Part 2

Feature

  • Avinash Persaud: Climate-related disasters, why insurance is not the solution and what is (85)
  • Louise Merrett: Conflicts of laws and the ratification of unauthorised acts by agents (87)
  • Benedict Tompkins: The LMA sovereign immunity clause and enforcement proceedings (90)
  • Nelson Enonchong: Secured lending: when is the lender put on inquiry in a “hybrid” transaction? (93)
  • Douglas Deutsch, Michelle McGreal, Tim Lees, Sarah Campbell: Insolvency and automatic acceleration in US Chapter 11: to accelerate, or not to accelerate, that is the question (98)
  • Reuven Young, Maxim Van de moortel: Private IPOs as a capital raising and exit strategy in today’s market environment (102)
  • Shail Patel: Reliance revisited: High Court construes statutory requirements for UK securities fraud claims (105)
  • Matthew Parker: Force majeure in loan agreements: illegality under the standard form LMA clause (107)
  • Adam Eckersley-Waites: National Security and Investment Act 2021: three years later (112)
  • Ciarán McGonagle, Andrei Kirilenko: Schrödinger’s property? D’Aloia and the legal superposition of digital assets (115)
  • John-Patrick Asimakis: Identifying the place of performance in English law transactions involving foreign banks (118)
  • David McIlroy, Clyde Darrell: Crypto-lending: does the UK’s consumer credit regime offer an avenue for redress? (122)

In Practice

  • Dean Naumowicz, Delyth Hughes, Nick Surry: Key hedging considerations in negotiating intercreditor terms (126)
  • Hywel Jenkins, Ian Thomas, Elizabeth Stephens: Modernising the redress system: exploring the need for alternative processes (128)
  • Dominic Stuttaford, Susanna Brain: Interest deductibility: the “unallowable purpose” rule after Blackrock, JTI and Kwik-Fit (129)

Regulars

  • Book Reviews by Professor Bobby V Reddy (131)
  • Case Analysis by One Essex Court (133)
  • Regulation Update by Norton Rose Fulbright (137)
  • Market Movements by CMS (144)
  • Deals (146)
  • Legal Ease with Lexis+® UK (147)
  • International Briefings from the USA and Finland (148)
Beküldve:

Butterworths Journal of International Banking and Financial Law 2025/5

Spotlight

  • Suzanne Rab: Between co-operation and collusion? Liability Management Exercises in Europe (291)

Features

  • Vanessa Knapp: Proposed UK corporate redomiciliation: issues for lenders (295)
  • Philip Morrison: ECCTA 2023 and corporate decision-making: considerations for corporate practitioners (298)
  • Michelle Gilmore-Parry: „High water” mark EBIDTA provisions: should lenders fight fires with a pre-agreed „low water” mark EBITDA de minimis? (300)
  • Matthew Padian: So long, farewell: thoughts on transferring security (303)
  • Jonathan Haines: Digital assets and reform of the financial collateral regime (306)
  • Emily Fox, Maura McIntosh, Ceri Morgan, Vanessa Naish, Tiphaine Leverrier: Asymmetric juridiction clauses: when will they be effective? (310)
  • Khrystyna Khanas, Andrii Chornous: Recognition and enforcement of Ukrainian judgments against the Russian Federation in the UK (314)
  • Chris McDermott, Trent E Lindsay, Alix Prentice, Georg Pelling, Eric Starr, John Donnelly: Artice 12 of the US UCC and the draft English Property (Digital Assetsetc) Bill 2024: potential impacts on fund finance transactions (318)
  • Isabel Neelands, Trisha Shah: The lucrative AI debt market – disrupting traditional debt lending: Part 2 (323)
  • Peter Schwartz, Adrian Chiodo, Alexander Clarke: An overview of debt and royalty financing structures for life sciences businesses (327)
  • Jamie Rogers, Ellie Rees, Bethan Savage: Political risk insurance: safeguarding global supply chains amidst geopolitical tensions? (331)
  • Chloe Carpenter: Cross-border privilege (333)
  • Martin Blake, Graham Dunn: Understanding debt finance in football: debt factoring and secured loans (335)

In Practice

  • Fiona Swords: Beware minority shakeholders: lending to the professional services sector (339)
  • Jon Ford, Jack Moore, Clara Browne: Money laundering through the market: enhancing financial crime systems and controls for wholesale firms and trading venues (341)
  • Elenya Ekhaletruo, Claire Clayton-Stead: Merricks v Mastercard settlement: CAT clips litigation funders’ wings (343)

Regulars

  • Book Review by Simon C Y Wong (344)
  • Case Analysis by One Essex Court and Forum Chambers (346)
  • Regulation Update by Norton Rose Fulbright (350)
  • Market Movements by CMS (356)
  • Legal Ease with Lexis+® UK (358)
  • International Briefing from Finland (359)
Beküldve:

Butterworths Journal of International Banking and Financial Law 2025/1

Spotlight

  • David Murphy: Financial regulation and the search for growth (3)

Features

  • Lindsay Hingston, Georgina Peters, Alex Thomson, Michael Atkinson: Liability management exercises in England: where are we? (5)
  • Mark Vinall: Does payment into a customer’s bank account enrich the bank? (9)
  • Alan Davies, Brad Taylor: MFN clauses in private credit facility agreements (12)
  • Paul Sinclair: Ending LIBOR: a landmark ruling on Tough Legacy contracts (14)
  • Noel Casey: The cost of further assurance (17)
  • Cecily Crampin, Camilla Chorfi: The Building Safety Act: issues for lenders (19)
  • Edward Cumming, James Fennemore: “Green revolution”? Solicitors’ duties in the light of risks relating to climate change (23)
  • Paul Fradley, Matteo Clarkson-Maciel: Cineworld: contracting out of a restructuring plan (27)
  • Dhananjay Kumar, Abhishek Mukherjee: Enforcement against Indian obligors: key considerations (30)
  • Matthey Lavy, Alex Taylor: Valuation date in cryptoasset claims (35)
  • William Hibbert: The law on undisclosed commissions: ripe for review by the Supreme Court (38)
  • Thomas Lowe: Offshore case law on bondholders as contingent creditors (42)
  • Thomas Wong: Indirect transfers of value “at the expense of” a claimant: comparative perspective (45)

In Practice

  • Charles Bischoff, James Bell: Car finance commission arrangements: implications for speciality finance transactions (49)
  • Pascal Urban: German obligors in cross-border financing transactions (51)
  • Sara Evans, Georgios Pantelias: Paying for investment research: welcome rule relaxations for EU and UK firms (54)

Regulars

  • Case Analysis by 3 Verulam Buildings (55)
  • Regulation Update by Norton Rose Fulbright (60)
  • Market Movements by CMS (65)
  • Deals (67)
  • Legal Ease with Lexis+® UK (68)
  • International Briefings from Switzerland and Turkey (69)

Editor’s note:

Everyone at JIBFL was saddened to hear of the passing of Dorothy Livingston, a highly respected and prolific contributor. Her articles were always enlightening and incisive. She will be sorely missed.

Beküldve:

Butterworths Journal of International Banking and Financial Law 2024/11

Spotlight

  • Leonrd Ng, Qalid Mohamed: Artificial intelligence in financial markets: systemic risk and market abuse concerns (715)

Feature

  • Sarah Paterson: The state of cross-class cramdown in the UK (719)
  • Craig Morrison: Knowing is half the battle: the economic torts and lender liability (722)
  • Matt Dunn, Jason Ewart: How do investors make returns on preferred equity? (726)
  • Michelle Glimore-Parry: The asset sales covenant: sometimes when it’s there it’s barely there at all! (728)
  • Nik Yeo: Crypto exchanges: an update on D’Aloia (731)
  • Louis Doyle: Marshalling by apportionment: a developing doctrine (736)
  • Gareth Old, Young Kim: Growing up or coming down to earth? Broader trends in the US CRT market (738)
  • Sung-Hyui Park, Edward Crane: Loans involving companies limited by guarantee: key issues for consideration (740)
  • Simon Clarke, Sarah Hawes, Ceri Morgan, Thomas Vaughan, Erica MacDonald: UK prospectus regime reform: potential impact on securities litigation (742)
  • Darragh Connell: Draft Property (Digital Assets etc) Bill: laying the foundations for the development of the common law (746)
  • Simon Fisher: Forewarned is forearmed: thoughts on the impact of an IT systems outage on security registrations at Companies House (748)
  • Philip Hertz, Michael Lyons, Rahim Darr, Dilara Topcu, Genevieve Morgan: English schemes of arrangement, restructuring plans, insolvency proceedings and the impact of sanctions legislation (751)
  • Russell Kelsall, Paula Twist: The Financial Conduct Authority, the court and the Financial Ombudsman Service: who is in charge? (755)

In Practice

Embedded law

  • Charles Kerrigan: A thought experiment on the future of legal services (757)
  • Herbert Smith Freehills: The auditor’s duty to report to the FCA when it suspects fraudulent activity (759)
  • Claire Clayton-Stead, Leontia McArdle, Megan Ineson: Is the FOS being fair and reasonable in its approach to unaffordable lending complaints? (760)

Regulars

  • Book Review by Geert van Calster of Governing law risks in international business transactions by Philip Wood CBE KC (Hon) (761)
  • Case Analysis by One Essex Court and a lecturer at Meiji University (Japan) (762)
  • Regulation Update by Norton Rose Fulbright (767)
  • Market Movements by CMS (771)
  • Deals (773)
  • Legal Ease with Lexis+® UK (774)
  • International Briefing from Switzerland (775)
Beküldve:

Butterworths Journal of International Banking and Financial Law 2024/10

Spotlight

  • Trevor Clark: Navigating conflicts of interest in European restructurings (647)

Feature

  • Alexia Knight, Sarah Parker: Alternate realities: transactional and economic reality in APP fraud and unjust enrichment (651)
  • James Palmer: Market abuse and restitution orders: challenges for FCA policy (655)
  • Jonathan Haines: Security financial collateral arrangements and the crystallisation of floating charges (660)
  • Priyanka Usmani, William Swan, Gabby White: How much is a word worth? (662)
  • Tom Leary: Sanctions defences after Celestial Aviation: when does s 44 of SAMLA 2018 help? (665)
  • Laura Prosperetti, Ferdisha Snagg, Bernardo Massella, Ducci Teri, Andreas Wildner, Ludovico Scasselati: Sec v Ripple and MiCAR: the classification of cryptoassets as securities (667)
  • Gareth Eagles, Emma Foster, Sylvana Lee, David Ridley: Two continents separated by a common language? Harmonising US and European loans (671)
  • Deborah Zandstra, James Kelton: A new class of debt instruments: carbon credit linked bonds (676)
  • Bryony Widdup, Emily Julier, Leon Yap: Blended finance: funding sustainable development with public and private funding (679)
  • Alex Potts: Potential litigation risk in private credit and fund finance: disclosure, consent and valuation (683)
  • Emeric Prévost: The law applicable to legal tender of the digital euro: the end of the conundrum? (685)
  • Jean-François Adelle: Secured claims in French restructurings: lessons from the 2021 reforms and recent large case precedents (689)

In Practice

  • Sara Evans, Charlotte Chopping: Can the buyside rely on ESG ratings and data without regulatory risk? (693)
  • Abdullah A Alsaeed, Khaled Alhuneidi, Dean Naumowicz, Yana Nastyushenko: The final piece of the G20 netting puzzle (694)
  • Robert Brittain: Retained EU Law: the implication of keeping s 6 dormant (696)

Regulars

  • Book Review by Julian Craughan of Hogan Lovells (697)
  • Competition Law Update by Matthew Sicnlair-Thomson, Loukia Kopitsa, Lauren Murray of Kirkland & Ellis LLP (698)
  • Case Analysis by 3 Verulam Buildings and a future pupil at Temple Chambers, Hong Kong (700)
  • Regulation Update by Norton Rose Fulbright
  • Market Movements by CMS (709)
  • Deals (711)
  • Legal Ease with Lexis+® UK (712)

Beküldve:

Butterworths Journal of International Banking and Financial Law 2025/3

Spotlight

  • Samantha Richardson: Drafting for sustainable lending: LMA green v SLL loan provisions (155)

Features

  • Nick Daly: “Red flags” and ostensible authority: reflections on Republic of Mozambique v Credit Suisse & Ors (159)
  • Catherine Gibaud, Emma Hughes: Good faith in English contract law: taking stock a decade or more after Yam Seng (162)
  • Faisal Ramzan, Alice Dawson-Loynes, Andrew Surgey: Deconstructing delayed draw term loans (166)
  • James Sheehan: Waiver and estoppel arguments against debt enforcement (168)
  • Joseph Wren, Nicholas Baines: Derivatives for private capital managers: hot topics and predicted trends for 2025 (172)
  • James MacDonald: The perils of relying on book entries in intra-group loan agreements (176)
  • Hamish Patrick, Rod MacLeod, Andrew Kinnes: Scottish limited partnerships and fund finance (179)
  • Anthony Pavlovich: Protecting shareholders against transactions with an improper purpose (181)
  • Isabel Neelands, Trisha Shah: The lucrative AI debt market – disrupting traditional debt lending: Part 1 (183)
  • Jean Price, Dil-veer Kang: Buy-now, pay-later: what the future will (and might) hold for the sector (186)
  • Daniel Winick, Heba Hazzaa: Across the pond: practitioner’s guide to fortifying LMA forms for cross-Atlantic transactions (189)
  • Allegra Miles, Elli Karaindrou: EU and UK implementation of Basel 3.1: a different approach? (192)
  • Simon Lafferty, John Budd: Changing of the (safe)guard: the FCA’s proposals for payments and e-money firms (200)
  • Jochen Vester: A smarter ring-fencing regime: all change? (204)

In Practice

  • Charles Kerrigan: Agency and AI: types of agents and what they do (207)
  • Shabaz Ahmed, Tony Katz: Court of Appeal decision on Motor Finance: lenders’ secondary liabilities (209)
  • Joseph Paddon: Prudential assessment of acquisitions and increases in control: new-old guidance, particularly relevant for fund managers (211)

Regulars

  • Competition Law Update by Kirkland and Ellis (213)
  • Case Analysis by Hogan Lovells (215)
  • Regulation Update by Norton Rose Fulbright (219)
  • Market Movements by CMS (222)
  • Deals (224)
  • Legal Ease with Lexis+® UK (225)
  • International Briefing from Spain (227)

Correction: in the February issue, Professor Nelson Enonchong’s article ‘Secured lending: when is the lender put on inquiry in a „hybrid” transaction?’ contained an erron ith the case citation for One Savings Bank plc v Waller-Edwards. The citation should have read: [2024] Ch 279, in the first key point and footnote 1. We apologise for this inadvertent error.

Beküldve:

Butterworths Journal of International Banking and Financial Law 2024/8

Spotlight

  • Leonard Ng: Private credit: exploring systemic risk concerns and regulatory architecture (507)

Features

  • Hodge Malek, Cleon Catsambis: Fixed rate loans: tough break (costs) for borrowers (510)
  • Scott Ralston: Lex situs and its discontents: English security over foreign assets (514)
  • Isabel Neelands, Anand Kannappan, Rebecca Qian: Debt financing of AI companies: identifying “AI assets” for the security net (517)
  • Vasanti Selvaratnam, Paul Schwartfeger, Kaity Crowe: (Un)reasonable endeavours: force majeure clauses and offers of non-contractual performance (521)
  • David Turner, Conor Ewing: Assignment or charge over warranty and indemnity insurance policies as security? (525)
  • Sarah-Jane Denton, Simon Witney: The Corporate Sustainability Due Diligence Directive: impact on financial services businesses (528)
  • Taraq Zafar Rasheed, Bogomil Kukovski: Mandatory collateralisation of hedging transactions under senior secured facilities (531)
  • Lee Federman, Adam Wolinsky: IOSCO Leveraged Loans and Collateralized Loan Obligations (CLOs) Good Practices for Consideration: how will this impact leveraged loan documentation? (534)
  • Karl Clowry, Seán McGuinness: Tacking: what further advances since 2002? (537)
  • Lucy Williams, Linda El-Halabi: Leading the charge (pun intended): international security transactions in the Middle East (542)
  • Roger Gherson, Valeriya Grebenkova, Cong Gao: Financial sanctions and investment treaty arbitration (545)
  • David Siesage: Judicial review in the financial services sector: a question of risk and reward (548)
  • Kit Smith: Anti-suit relief: Bourlakova and Magomedov and the non-contractual jurisdiction (551)
  • Danny Busch, Matthias Lehmann: Turn the Unfair Terms Directive into a Regulation! (554)

In Practice

  • Charles Malpass, Roxanne Paes: Lending transactions: putting the power in powers of attorney (558)
  • Charles Kerrigan, Claire Whittaker: Retrieval augmented generation in LLMs: AI for lawyers (560)
  • Hywel Jenkins, Jack Moore, Cat Dankos: Beware of regulators bearing gifts (562)
  • Jeremy Sher, Benjamin Fellows, Leontia McArdle: SRA warning on the conduct of mass financial mis-selling claims: what will be the impact on motor finance claims? (564)

Regulars

  • Case Analysis by One Essex Court and 4 Pump Court (565)
  • Regulation Update by Norton Rose Fulbright (570)
  • Market Movements by CMS (574)
  • Deals (576)