News & Analysis as of

Banking Sector United Kingdom Insolvency

A&O Shearman

Not just another drop in the ocean: Thames Water and developments in restructuring plans since Adler

A&O Shearman on

In this alert, we take a look at some of the principal points arising from the Court of Appeal’s judgment in respect of the Thames Water restructuring plan, as well as the broader state of play for restructuring plans in the...more

Conyers

Beyond the Betrayal: Navigating Strategies for Victims of APP Fraud

Conyers on

Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more

Katten Muchin Rosenman LLP

Deleveraging Through the LMA Intercreditor Distressed Disposal: How to Navigate a Challenge-Free Process

A distressed disposal (Distressed Disposal) under an LMA-based intercreditor agreement (ICA) is a powerful restructuring tool. It has the potential to significantly de-lever a business for the benefit of the “in the money”...more

White & Case LLP

Silicon Valley Bank UK Limited – Sale to HSBC UK Regulatory Considerations

White & Case LLP on

On Monday March 13, 2023, the Bank of England announced that Silicon Valley Bank UK Limited has been sold to HSBC UK Bank Plc. The situation remains fluid, and the following Q&A reflects our understanding as of Monday...more

White & Case LLP

Silicon Valley Bank UK Limited - UK Regulatory Considerations

White & Case LLP on

On Friday March 10, 2023, the Bank of England moved to put the UK arm of Silicon Valley Bank into insolvency after it applied for £1.8bn of liquidity as its parent company was collapsing. The situation remains fluid, and the...more

Hogan Lovells

Global Payments Newsletter, November 2021

Hogan Lovells on

Key developments of interest over the last month include: Nigeria: eNaira digital currency launched United Kingdom: PSR publishes final report on card-acquiring services market review United States: Federal Reserve launches...more

K&L Gates LLP

New UK Insolvency Regime For Payment Institutions and Electronic Money Institutions

K&L Gates LLP on

EXECUTIVE SUMMARY - On 26 April 2021, draft Payment and Electronic Money Institution Insolvency Regulations (Regulations) were brought before the UK Parliament for approval. They will introduce a new special administration...more

A&O Shearman

Draft UK Legislation to Onshore the EU Reorganization and Winding Up Directives Published in Preparation for Brexit

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HM Treasury has published a draft statutory instrument to onshore further EU financial services legislation in preparation for Brexit - the draft Credit Institutions and Insurance Undertakings Reorganization and Winding Up...more

A&O Shearman

UK Government Consults on Transposition Measures for the EU Bank Creditor Hierarchy Directive

A&O Shearman on

HM Treasury has published a consultation on the U.K. Government's proposed approach to implementing the EU Bank Creditor Hierarchy Directive (also known as the Insolvency Hierarchy Directive) into U.K. domestic law. Member...more

Hogan Lovells

Expect the Unexpected: The Year Ahead for the Financial Institutions Sector

Hogan Lovells on

With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the...more

Morrison & Foerster LLP

Brexit: Impact on Restructuring and Insolvency for Credit Institutions

The process of Brexit will take many years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all of our offices, and...more

Latham & Watkins LLP

PF Newsletter: LMA Updates - Quarter One 2016

Latham & Watkins LLP on

Legal & Regulatory - BRRD: FCA publishes modification by consent for Article 55 rules - Article 55 of the EU Bank Recovery and Resolution Directive 2014/59 (BRRD) requires European Economic Area (EEA) firms and...more

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