Banking & Finance Bulletin - Autumn 2018

Banking & Finance Bulletin - Autumn 2018

Banking & Finance Bulletin - Autumn 2018

Welcome to the autumn edition of our Banking & Finance bulletin.

As ever, this bulletin represents the very best of our recent thought-pieces concerning exciting legal developments in the world of Banking & Finance. We hope you’re still with us!

It’s been a little over a year now since we first started publishing this bulletin. We always seek to tailor our articles to what we think our clients will find most interesting. We hope this is the case, but if ever you read below and get to the end with unanswered questions, why not get in touch to discuss this further? You know what they say; a problem shared is a problem halved.

In this bulletin we cover three major legislative developments in relation to the UK’s insolvency regime, the assignment of receivables and the identification of overseas investors in the UK’s property market. Among other topics (one of which needs no introduction), we also comment on a recent Supreme Court case which will interest those who issue or seek to rely upon credit references.

And for those of you who hanker after even more commentary from Stevens & Bolton, why not explore some recent pieces penned by our Restructuring & Insolvency specialists – click here to read more.

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  1. Watch this space - insolvency reform is coming

    Just as Summer was closing for business for another year, the UK Government announced some sweeping insolvency reforms. In late August the Department for Business, Energy & Industrial Strategy (BEIS) published its response to its 2016 Review of the... Read more
  2. The Business Contract Terms (Assignment of Receivables) Regulations 2018 - back for good?

    In an illustration that if at first you don’t succeed, you should try and try again, the UK government has published a revised draft of the regulations designed to prohibit contractual clauses which prevent one party from assigning its right to payment... Read more
  3. UK government publishes draft legislation to identify overseas beneficial owners of UK property

    Two years ago David Cameron announced plans to introduce a register of overseas entities owning UK land (the Register), with the objective of identifying and recording overseas entities who transact in UK real estate to prevent and combat those entities... Read more
  4. Court guidance on bank liability to third parties for credit references

    Speed read The UK Supreme Court has recently confirmed that a bank that provides a credit reference bears no duty of care for the accuracy of that reference to an undisclosed principal who relies upon it. Wherever possible, banks providing credit references... Read more
  5. LMA publishes note on implications of Brexit for its loan documents

    The LMA recently published a supplemental note on the implications of Brexit for LMA loan documentation. Its primary focus is the loss of financial services passports associated with Brexit. Here we zone in on the documentary tools the LMA recommends to... Read more
  6. UK High Court holds that an entire agreement clause excludes liability for misrepresentation

    Key takeaway An entire agreement clause may operate to exclude a claim for statutory misrepresentation even in the absence of a non-reliance provision. However it depends upon the drafting in question. So far as loan documentation is concerned, lenders and... Read more
  7. Fraud doesn't always trump all - mortgagee can still enforce its equitable charge

    Mention the concept of a “trust” to your average lawyer, and many will recall some dark times during law school finals and search for a cold towel. And yet it was the transfer of a property into a trust which was at the heart of a recent case... Read more
  8. FAQs on Loan Notes

    Head of Banking and Finance, Jonathan Porteous, has prepared a note for leading legal publisher, Practical Law, with answers to some queries which commonly arise when using general purpose loan note instruments. Practical Law provides legal know-how for... Read more

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