Butterworths Journal of International Banking and Financial Law 2025/9

Spotlight

  • Graham VirgoFiduciary law in the Supreme Court: equitable orthodoxy (generally) prevails (603)

Feature

  • Deborah Sabalot Deane: Sabalot Fiduciary duties and regulatory rules: are the courts and the regulator on a collision course? (608)
  • Anna Delaud, Nicholas U Jin: Old debt, new terms or new debt, old terms: debt variation re-examined (613)
  • Geoff O’Dea, Tony Horspool: Petrofac: the unanswered question of fair allocation (617)
  • Akhil Shah, Laurentia de Bruyn: How long can a senior lender withhold repayment confirmation to discharge security in an intercreditor agreement? (621)
  • Hamish Patrick, Neil Campbell: The Moveable Transactions (Scotland) Act 2023: some points from practice six months on (625)
  • Charles Kerrigan: Some updates on TMT finance (629)
  • Adam Pierce, Catherine Astruc, Neil McKnight, David Ferris: Use of the quoted Eurobond exemption in the loan markets: why, when and how? (633)
  • Keith Blizzard: Central clearing in the US Treasury Securities markets: understanding the global legal impact (636)
  • Brad Pomfret, Asa Tolson, Rebecca Jones: Resource-backed loans: a never-ending story? (639)
  • Michael Huertas: The evolution of the ESFS in a time of armed conflict: legal foundations, policy options and practical considerations (643)
  • Claire Harrop, Cyrus Pocha, Emma Probyn, Thomas Clark, Laura Feldman: The challenges of bringing cryptoassets within the UK regulatory perimeter (648)
  • Abdullah Geelah: Governing law, ungovernable questions: the challenge of public international law in the World Bank’s development policy financing agreements (653)
  • Ahmed Abdel Hakam, Jaideep Khanna: Drafting on the edge: ambiguity in hybrid jurisdiction clauses (656)

In Practice

  • Bamdad Shams: Navigating the new landscape of AI-driven credit assessment: legal and regulatory considerations for financial institutions (659)
  • Jack Congdon, James Bell: Supreme Court motor finance commission ruling: what next for lenders? (662)
  • Laura Smith, Danny Peel, Adam Burk: NAV facilities to PERE funds (664)
  • Rob Marsh, Christopher Aird: Project financing co-located renewable assets (667)

Regulars

  • Case Analysis by Hogan Lovells, Outer Temple and Wilberforce Chambers (668)
  • Regulation Update byNorton Rose Fulbright (675)
  • Market Movements by CMS (682)
  • Deals (684)
  • Legal Ease with Lexis+® UK (685)
  • International Briefings from Finland and Switzerland (686)

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)

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.

Butterworths Journal of International Banking and Financial Law 2023/10

Spotlight

  • Adrian Cohen, Antonia Pegg: “Debtor-in-possession” processes and moratoria in English restructuring and insolvency law: a hesitant journey (659)

Features

  • Jonathan Davies-Jones, Alexia Knight: When is a bank put on notice of an agent’s fraud? (664)
  • Peter de Verneuil Smith, Philip Hinks, Judy Fu: Damages under ss 90 and 90A FSMA (667)
  • Steven Fennell: Limited liability partnerships: authority to borrow and to give security (672)
  • Andrew Kinnes, Hamish Patrick: Moveable transactions: Scotland v England: Round 2 – taking security over chattels (675)
  • Charlotte Eborall: “Packing” a punch to litigation funders? (678)
  • Shameer Shah, Ben Burton: Excess Cash Flow: time to sweep it under the carpet? (682)
  • Duncan Sheehan: Identifying floating charges after Re Avanti Communications Ltd (in Administration) (684)
  • Lodewijk van Setten: DeFi platforms: delineating the regulatory perimeter (687)
  • Sanjev Warna-kula-suriya, Dan MarcusHybrid facilities: the promise, the reality and the hope (691)
  • Ferdisha Snagg, Andreas Wildner: What is in a name? The regulators seek to have the final word on the meaning of trading venue under MiFID (694)
  • Kelesi Blundell, Ioannis Asimakopoulos: Banking regulation in the aftermath of SVB: lessons for regulators and supervisors (698)
  • Chloe Carpenter: Avanti Communications and the use of textbook and articles when undertaking research (700)
  • Jacob J Meagher: The implications of the novel “Audit Duty” on professional service firms: Part 1: Rihan v Ernst & Young (702)

In Practice

  • Kate Vyvyan, Jessica Walker, Julia MachinGreen expectations: ESMA’s Statement on sustainability prospectus disclosure (709)
  • Alex Martin, Jana Zupikova: Private portfolio financings on the rise(711)
  • Samantha Holland, William Humphries: Overhauling the rules on the law of the arbitration agreement? (712)

Regulars

  • Competition Law Update by Kirkland & Ellis LLP (713)
  • Book Review by Ross Cranston (715)
  • Case Analysis by 3 Verulam Buildings (716)
  • Regulation Update by Norton Rose Fulbright (718)
  • Market Movements by CMS (721)
  • Deals (724)
  • Legal Ease with Lexis+® UK (725)
  • International Briefings from New Zealand, Finland and Hong Kong (726)

Butterworths Journal of International Banking and Financial Law 2023/9

Spotlight

  • Sarah Worthington: Fixed and floating charges: still favouring absolutism over multi-factored nuance (583)


Features

  • Geoffrey Wynne, Jacqueline Cook: The Electronic Trade Documents Act 2023: the key to the future? (587)
  • Richard Boynton, Kon Asimacopoulos, Sean Lacey, Hannah Crawford, Kate Stephenson: Galapagos: proper construction of Distressed Disposal provisions in intercreditor agreement (590)
  • James Hall, William Golightly: The risks of attempting to rectify mistakes in security documents, without seeking a court order (594)
  • Daniel Winick, Mark Presso, Andrew Young, Heba Hazzaa: Wall Street-led secondary trading of private credit loans: considerations for stakeholders (599)
  • Hamish Patrick, Andrew Kinnes: Moveable transactions: Scotland v England: Round 1 – assigning receivables (602)
  • Piers Reynolds, Laura Feldman: New challenges for tackling Authorised Push Payment fraud (605)
  • Lee Federman, Tom Miller: Don’t put all your debt in one basket: debt incurrence flexibility in leveraged finance transactions (610)
  • Richard Hoyle: The fiduciary’s divestment dilemma: ESG and the age of climate change (612)
  • Rachel Tandy, Chris Haan: Collective stress or collective redress? Examining available mechanisms for securities litigation in England and Wales (616)
  • Tim Lees, Sarah Jane O’Leary, Kasia Lorenc: In sync across borders: embracing parallel processes for successful restructurings (620)
  • Thomas Wong: English law-governed Keepwell Deeds enforced by Hong Kong courts against PRC insolvent companies (623)
  • Chris Wallace: The Digital Securities Sandbox (627)
  • Giovanni Bandi, Yasser Nasser: The Cambridge Regulatory Genome Project: a must in a world of regulation technologies (629)

In Practice

  • Michael Leadbeater: Super senior facilities: a recap on key documentary terms (632)
  • Rebecca Oliver: Taking effective security over future acquired assets: the importance of contractual intention (634)
  • Matthew Cox. Lana Ahern, Gabby White: Can the consent of an obligor be taken at face value? (636)

Regulars

  • Book Review by Ross Cranston, LSE (638)
  • EU Update by Mauro Megliani, Catholic University of Milan (639)
  • Case Analysis by Hogan Lovells and Volterra Fietta (641)
  • Regulation Update by Norton Rose Fulbright (646)
  • Market Movements by CMS (649)
  • Deals (651)
  • Legal Ease by Lexis® PSL (652)
  • International Briefing from Switzerland (654)

Butterworths Journal of International Banking and Financial Law 2022/6

Spotlight

  • Jonathan Dawid, Emilie Gonin: Countering counter sanctions: treaty based remedies for investors in Russian assets? (371)

Features

  • Gavin Irwin, Merry van Woodenberg: Financial sanctions: prohibitions extended to persons „connected with” Russia (374)
  • Matthew Padian, Lucy Trott: The impact of the new Economic Crime Act on loan documentation (378)
  • Ryan Ferro: Knowing receipt and the proprietary base: Part II (380)
  • Hanif Virji: A contradiction of terms: is stock-lending compliant with the ethos of an ESG fund? (384)
  • Chloe Carpenter: Interest under a loan linked to a base rate: issues to consider (3869
  • Hamish Patrick: Movable Transactions (Scotland) Bill: some funding opportunities (389)
  • Tim Akkouh, David Baker: Reforms to Unexplained Wealth Orders: the sword and the shield (3929
  • Raza Naeem, Seraphina Chew: SFDR RTS ens ESG sectoral amendments: mismatches and implementation (395)
  • Julian Craughan, Andrew Carey, Andrea Salsi, Steven Minke: Talking about a revolution: making ESG securitisations mainstream (397)
  • William Johnston: Protection from creditors: the law’s continuing development for corporates in Ireland (401)
  • Tom Astle, Charlotte Lamb: Direct lending in a distressed world (405)
  • Paul Mousel: Protection of clients’ securities in Luxembourg law (4089
  • Hossein Nabilou: Transaction finality in blockchains: legal considerations (411)

In Practice

  • Michael Lyons, Ellen Lake, Hannah Ovaisi, Miranda Harrison: Economic Crime (Transparency and Enforcement) Act 2022: sanctions update (416)
  • Jeremiah Wagner, Kamal Dalal: Don’t forget about the NSIA: potential implications for securitisations (418)
  • Charles Kerrigan, Ruth Marken, Yasmin Musker: Financial covenants for fast-growth businesses: the new market norms (420)

Regulars

  • Competition Law Update by Kirkland & Ellis International LLP (422)
  • Book Review by Sarah Paterson (425)
  • Case Analysis by Hogan Lovells and Milbank (427)
  • Regulation Updata by Norton Rose Fulbright (432)
  • Market Movements by CMS (437)
  • Deals (439)
  • Legal Ease by Lexis®PSL (440)