Subordination of debt is a technique used increasingly by practitioners in the City of London. Through this process one creditor, secured or unsecured, agrees to rank after another. It is particularly relevant in situations such as ensuring priority between secured creditors (second mortgages), subordinated bond issues, etc. This volume examines all the difficult areas of subordination, including its meaning and purpose, classes of subordination and set-off, terms of subordination agreement and "protective" clauses. A selection of precedents is included, along with a section on US law practice.
Rezensionen / Stimmen
The aim of the book, he points out, is to provide a reasoned legal basis for subordinations, to provide some answers to the questions, so far as he can, and to indicate the practice. In this, Mr Wood has succeeded admirably. Law Quarterly Review.
Sprache
Verlagsort
Verlagsgruppe
Zielgruppe
Für höhere Schule und Studium
Für Beruf und Forschung
Maße
Höhe: 216 mm
Breite: 138 mm
Gewicht
ISBN-13
978-0-421-42670-2 (9780421426702)
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Schweitzer Klassifikation
The provision of mezzanine finance in leveraged bids, management buy-outs and other change-of-control financings. Subordinated bond issues, particularly by banks and other financial institutions. Work-outs and insolvencies where insiders or suppliers agree to be subordinated. Subordinated debt to satisfy capital adequacy requirements for banks and other investment businesses.
