Corporate Financing
This round-up from Wragge & Co covers the latest developments in finance litigation, covering issues such as the balance sheet insolvency test following the BNY Corporate Trustee Services Ltd v Eurosail-UK case and the interpretation of guarantees.
Law Firm: Wragge & Co | Published: 05 June 2013 | Practice Area: Litigation
British Virgin Islands-based fund managers looking to market in the European Economic Area from 22 July this year should pay attention to this briefing from Mourant Ozannes, which explains the impact of the EU's Alternative Investment Fund Managers Directive (AIFMD.
Law Firm: Mourant Ozannes | Published: 04 June 2013 | Practice Area: Corporate Financing
In an interesting recent case, Sergio Azevedo v Imcopa Importacao, the validity of 'consent payments' offered to loan note holders to secure their votes in favour of certain amendments to the terms of the notes was considered, and the result may be surprising to some.
Law Firm: Shoosmiths | Published: 30 May 2013 | Practice Area: Company Administration
The recent decision in BNY Corporate Trustee Services Limited v Eurosail has provided helpful guidance on the interpretation of the insolvency tests set out in section 123 of the Insolvency Act 1986. This guidance is of significance to anyone creating contracts containing this type of provision.
Law Firm: Wragge & Co | Published: 24 May 2013 | Practice Area: Regulation and Enforcement
Prompt payment is critical to the cash flow of every business. This spring, two regulations have amended The Late Payment of Commercial Debts (Interest) Act 1998, particularly the way in which the 'Relevant Day' is to be calculated. DLA Piper offer a detailed analysis of the new regulations.
Law Firm: DLA Piper | Published: 22 May 2013 | Practice Area: Sale and Supply of Goods and Services
The Supreme Court has delivered a judgment providing welcome clarification on the construction and effect of the "balance-sheet" insolvency test and its interaction with the "cash flow" insolvency test. The decision is relevant not just to creditors but also to the wider banking industry.
Law Firm: Herbert Smith Freehills | Published: 20 May 2013 | Practice Area: Regulation and Enforcement
A dividend recap involves a portfolio company obtaining new financing in the loan/bond markets to fund a return to its investors. Dividend recaps have been much commented on recently and have become a regular feature in deal flows this year. Macfarlanes highlights some key features and issues.
Law Firm: Macfarlanes LLP | Published: 17 May 2013 | Practice Area: Regulation and Compliance
Investors, venture capital funds, accountants, lawyers and fundraisers use jargon. To anyone raising funds for the first time this can be very confusing. Whilst it's impossible to provide a complete listing of terms, this guide sets out in plain English some of the key terms and their meanings.
Law Firm: Nabarro | Published: 13 May 2013 | Practice Area: Regulation and Compliance
This report from Brook Intelligence Centre provides a detailed business analysis on retail giant Tesco plc. Areas covered include company basics; business description; financials; share price; key events timeline; acquisitions; business and legal issues; business strategy; and key people.
Law Firm: Brook Intelligence Centre | Published: 23 April 2013 | Practice Area: Sale and Supply of Goods and Services
If commentators are to be believed, 2013 will see the long-awaited revival of global M&A transactions. Yet the first quarter tells a very different story. Having reviewed each region and sector in depth, Allen & Overy detail their key observations about the current state of the global M&A market.
Law Firm: Allen & Overy | Published: 10 April 2013 | Practice Area: Mergers & Acquisitions
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