Akin Gump London Restructuring Lawyers Pen Article on New Corporate Insolvency and Governance Act
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Butterworths Journal of International Banking and Financial Law, in its December issue, has published the article “Capital market transactions and the standalone moratorium procedure,” written by Akin Gump financial restructuring partner Lois Deasey and counsel Jon Webb. The article discusses the capital market exemption under the new Corporate Insolvency and Governance Act 2020, which the authors say is considered “the most profound change to UK insolvency law in a generation.”
In discussing different aspects of the new law, Deasey and Webb look at its implications for participants in the capital markets. They then look at the consequences if an issuer or guarantor is eligible for the new moratorium procedure. They concludes by noting that, even if an obligor is eligible for a moratorium, “financial creditors may take comfort from the protections afforded to scheduled debt obligations under contracts for financial services.”
To read the entire article, please click here.