Articles by author
Validation of the Financial Collateral Arrangements Regulations post-Brexit: legal considerations
This article considers the implications of the unusual validating provisions in the Financial Services Bill (HL Bill 162), which retrospectively validate the Financial Collateral Arrangements (No 2) Regulations 2003 (SI 2003/3226) notwithstanding any lack of power to make the Regulations, in circumstances where the Regulations give effect to EU Directive 2002/47/EC. It examines the critical questions that would have arisen pre-Brexit, and those that now arise, in relation to whether such validating legislation is lawful and argues that such validation is likely to be effective post-Brexit.
1 APR 2021Improper leverage? Own interest conflicts and the designation model in leveraged finance transactions
Designation in leveraged finance deals – the process by which the sponsor’s solicitors select the solicitors to act for the lender – has become increasingly controversial and is attracting the attention of regulators. It has the obvious potential to give rise to suggestions that the lender’s solicitors may be conflicted, between their duties to their client and their self-interest in securing future designations by sponsor firms. Simon Salzedo KC and Tom Wood consider the extent to which designation may give rise to claims of a breach of existing English conflicts law and professional rules.
1 APR 2023
