Overview

September’s monthly finance bulletin from the banking and corporate recovery department at Travers Smith provides an overview of some recent market developments and trends in the finance sector and also features a spotlight on the ‘football creditor rule’.

Other topics included in this month’s briefing include the European High Yield & Leveraged Loan Report, which confirmed the continuing difficulties in the credit market, the new draft regulations amending debt cap restrictions, the first draft of the UK Insolvency Rules 2011 and UK state revenue agency HMRC’s announcement of a treaty relief ‘Syndicated Loan Scheme’; as well as ‘Basel III’ - this month’s meeting of the oversight body of the Basel Committee on Banking Supervision announced a strengthening of capital requirements for banks in response to the credit crisis.