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Trevor Borthwick

Trevor Borthwick is a partner in the Banking & Finance practice at Mayer Brown International LLP. He represents banks and borrowers on large and complex financing arrangements, debt special situations and restructurings across a wide variety of sectors.

tborthwick@mayerbrown.com

Articles by author

“Credit bidding” unsecured debt in an administration

In the recent case of Re Sova Capital Limited (in special administration) [2023] EWHC 452 (Ch), the English High Court approved a structure which was, in substance, a “credit bid” by an unsecured creditor. In this article, the authors explore the High Court’s reasoning and highlight key points to be considered by insolvency officeholders looking to replicate this structure as a means of asset realisation.

1 JUL 2023