Bank Notes – Winter 2018

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Bank Notes – Winter 2018

Bank Notes – Winter 2018

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November 27, 2018

Welcome to the Winter 2018 edition of Bank Notes. Please use the links below to read the articles.

Sanctions confirmations in finance documents and the updated EU Blocking Statute
Recent developments in aircraft finance and leasing – AFIC, Balthazar and GATS
Compromising English law debts: has the rule in Gibbs had its day?
General standards and communication rules for payment services and e-money sectors – FCA to level playing field
Once again, no injunction restraining payment against fraudulent demand under demand guarantee

You may also be interested in these recent Dentons articles:

The growing trend of green finance: the Green Loan Principles
FCA fines Tesco Bank for data breach
Changes to the Financial Ombudsman Service
Breaking down FCA enforcement activity - where should firms focus compliance resources?
Cybercrime attacks: Before and after –12 things to think about in the regulated sector

Showing 1 - 5 of Total Results (5)

Sanctions confirmations in finance documents and the updated EU Blocking Statute

November 27, 2018

An updated version of the EU Blocking Statute came into force on 7 August 2018. This article explains how and why this has changed the forms of sanctions-related representations and undertakings many European lenders are requesting from their borrowers.

Recent developments in aircraft finance and leasing – AFIC, Balthazar and GATS

November 27, 2018

This article explains the development of two new non-payment insurance products in the aircraft finance market, and a new system for trading leased aircraft without novating them.

Compromising English law debts: has the rule in Gibbs had its day?

November 27, 2018

Under the "rule in Gibbs", an English law debt can only be compromised by agreement or by the English Courts. Though long-standing, the rule has proved controversial, potentially rendering compromises of English law debt under foreign restructuring procedures ineffective. This note explains how two ongoing international restructurings have put the rule in Gibbs back under the spotlight.

General standards and communication rules for payment services and e-money sectors – FCA to level playing field

November 27, 2018

Payment service providers and e-money institutions that are regulated under FSMA currently follow a different rulebook than those that are not. This article explains FCA proposals to level the playing field, and why some firms affected are unhappy.

Once again, no injunction restraining payment against fraudulent demand under demand guarantee

November 27, 2018

If a beneficiary of a letter of credit or demand guarantee has made a compliant demand, the English courts will very rarely order a bank not to pay, even when the applicant alleges beneficiary fraud. This article explains how the recent case of Tetronics (International) Limited v. HSBC Bank Plc, BlueOak Arkansas LLC illustrates this approach.