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  • Sponsored by Prager Dreifuss
    There are different forms and treatments of subordination agreements in Swiss insolvency. This article is inspired by the authors’ experience representing the security agent of $1.75 billion bond issue of a Swiss based oil refinery group
  • Sponsored by Debevoise & Plimpton
    This traditional German debt instrument is attracting international interest
  • Sponsored by Maples Group
    The Irish parliament is debating a bill which, if passed, would regulate the owners of Irish loan portfolios. The proposed legislation – the Consumer Protection (Regulation of Credit Servicing Firms) [Amendment] Bill 2018 (the Bill) is understood to have been triggered by reports of intended loan sales by particular retail banks in Ireland. Since 2015, non-regulated owners of loan portfolios comprising loans to consumers and small and medium-sized enterprises (SMEs) have been required to appoint a regulated credit servicer to manage the portfolio. This was to ensure that consumers and SMEs would continue to enjoy their statutory customer protection even though their creditor was unregulated. Broadly, this ensured consumers and SMEs were in the same position as if facing a regulated retail bank. However, in some political circles this regime has been perceived as providing insufficient protection to borrowers.

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