Articles by author
The perils of relying on book entries in intra-group loan agreements
Intra-group loan agreements are a common feature of corporate life. For convenience, they are often recorded as simple book entries, rather than formally documented by loan agreements. This article considers the potential benefits and dangers of this practice.
6 MAR 2025Covid, aircraft financing and the duty to mitigate
Covid placed severe stress on the aviation industry causing many lessees to default. This article considers whether security trustees acting on behalf of aircraft financing creditors need to enforce security in order to mitigate the creditors’ losses and maximise their claims.
31 MAR 2024Shanghai v Reignwood: what makes a guarantee “on demand”?
Guarantees are essential features of commercial financing transactions. But the nature of the guarantor’s liability may vary significantly. Is the guarantor liable only when the underlying obligor has defaulted on its obligations (a “see to it” guarantee) – or as soon as the guarantee’s beneficiary makes a good faith demand (an “on demand” guarantee)? Shanghai v Reignwood [2021] EWCA 1147 (Court of Appeal) illustrates the importance of the distinction, and how it can turn on fine points of construction.
1 JAN 2022
