ÀÏ˾»úÎçÒ¹¸£Àû

View the related practice notes about Bondholder

Structural considerations for Part 26A restructuring plans

Structural considerations for Part 26A restructuring plans Statutory provisions on jurisdiction and sufficient connection/discretion At the convening hearing, before an English court will consider a Part 26A restructuring plan (RP), it will ascertain whether it has jurisdiction to do so. Part 26A of the Companies Act 2006 (CA 2006) applies to companies liable to be wound up under the Insolvency Act 1986 (IA 1986) (see CA 2006, s 901A(4)(b) and Re Virgin Atlantic applying DAP Holding NV and Re PizzaExpress). ‘Companies liable to be wound up under IA 1986’ is a similar definition to that used for schemes of arrangement, and for both schemes and RPs includes unregistered companies and foreign companies. Additionally where foreign companies are involved and when considering its discretion to sanction an RP, a court will only exercise jurisdiction over a foreign company if it has a sufficient connection with this jurisdiction (see scheme case,  Re Drax Holdings as applied to RPs by Snowden LJ in Re Smile Telecoms Holdings). Note this...

Terms and conditions—first time issuer's guide

Terms and conditions—first time issuer's guide What this Practice Note covers The aim of this Practice Note is to provide information and practical guidance on English law terms and conditions to lawyers advising first time (debut) issuers of debt securities. This Practice Note focuses on debut issues of debt securities because the documentation for the issuer’s debut issue tends to be closely followed for its subsequent issues. The documentation stage of the first issue is when the issuer and its advisers have an opportunity to consider the documentation in depth and (within the constraints imposed by accepted debt capital markets practice) to influence the form of the documentation. This Practice Note explains the practical aspects of the key provisions set out in the terms and conditions of debt securities. This Practice Note assumes that first time issuers are not likely to be the major corporates, financial institutions, multi-lateral agencies (like the World Bank) or sovereigns which traditionally raise funds in the international investment-grade public debt capital...

View the related precedents about Bondholder

Tax disclosure—bond issue offering document

United Kingdom Taxation General The summary set out below describes certain taxation matters of the United Kingdom based on the Issuer’s understanding of current law and HM Revenue & Customs (HMRC) published practice as at the date of this document, both of which are subject to change, possibly with retrospective effect. The summary is intended as a general guide only and is not intended to be, nor should it be construed to be, tax or legal advice. The summary applies only to persons who are the absolute beneficial owners of Bonds, who hold their Bonds as investments and who are resident and, in the case of individual shareholders, domiciled in the UK for taxation purposes at all relevant times. In particular Bondholders holding their Bonds through a depositary receipt system or clearance service should note that they may...