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Private finance and financial assistance
In this article the authors consider the ban on the giving of financial assistance for the acquisition of a company’s own shares in the context of the rise in private finance and specifically large private companies benefitting from the ban.
03 June 2024Decentralised Artificial Intelligence
Decentralised machine learning (ML) (sometimes just referred to as Decentralised Artificial Intelligence) differs greatly from centralised ML (and other types of machine learning). This article seeks to explain those differences and explore the benefits, use cases and regulatory challenges faced by Decentralised Artificial Intelligence.
03 June 2024Pre-funding: the secret to a smooth closing or a minefield of risks?
Faced with a challenging deal-making environment, volatile geopolitical backdrop and rising cost of capital, dealmakers are increasingly concerned about risks inherent to closing mechanics of complex acquisitions. In acquisition finance there is scrutiny to ensure committed funds arrive on time and utilisation mechanics adapt to facilitate funds flow and not vice versa. In this article Nick O’Grady, Philippe Bernier-Cormier and Gabby White from Baker McKenzie’s leveraged finance team look at developments in pre-funding structures and documentation in both the syndicated and private credit markets.
03 June 2024Assigning receivables on either side of the Channel: a comparative note on French and English law
As between English law and French law, the key principles behind assigning receivables are similar. The 2016 reform of French contract law has undoubtedly brought the French regime applicable to assigning receivables closer to English law. However, practical differences between the two systems continue to exist. This is due to the inherently contrasting nature of civil and common law systems and the role, in particular, of equity in matters of assignment. This article presents the French regime on assigning receivables, contrasting it with English law on certain points.
03 June 2024Gross negligence in trustee investment decisions: Manita Khuller v FNB International Trustees Limited
In this article Kira King considers the principal issues in the recent decision of the Guernsey Court of Appeal in Manita Khuller v FNB International Trustees Limited [2020] GCA051.
29 May 2024The role of sustainability-linked derivatives in meeting global ESG goals
This article explores the role of ESG derivatives transactions in enabling companies, financial institutions and governments to meet their ambitious sustainability targets with a particular focus on bespoke, innovative sustainability-linked hedging solutions. This article highlights different ways in which sustainability-linked derivatives transactions can be, and have been, structured. In addition, this article explores the challenges currently faced by parties entering into such transactions stemming largely from a lack of regulation, resulting in limited transparency, standardisation and reporting.
29 May 2024The drafting jigsaw: LIBOR reform and forward-looking term rates
With the birth of nearly Risk Free Reference Rates (RFRs) bringing currency specific benchmarks for interest rates to replace LIBOR, new jargon and industry and regulator guidance, how can a borrower, or for that matter a lender, start to piece together the drafting it needs for bespoke finance documents?
29 May 2024Judicial review of regulatory bodies in the financial services industry
However, the sheer growth in the volume of regulation in the financial services sector, combined with an expansion in regulatory remit (which is often incremental) means that judicial review has become even more important as a means of holding regulators to account. This article discusses some recent decisions in this area, as well considering what impact, if any, the proposed judicial review reforms are likely to have on challenges within the financial services industry.
29 May 2024Restitutionary claims in “failed” loan documentation
Most loan agreements are carefully drafted documents designed to operate through carefully specified mechanisms. But when a contract fails for some reason, or stops applying, the borrower is likely to be required to repay the money that has been obtained through a restitutionary claim. What are the bases for such claims? And how do they relate to the intended contractual provisions?
29 May 2024Re-scheduling debt and the provision of credit
In this article, Neil Levy considers whether an agreement which re-schedules an existing payment obligation by doing no more than allowing time to pay, should be treated as providing credit.
29 May 2024
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