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There had been much disquiet over the impact on managed CLOs of the "skin in the game" requirements. However, as arbitrage economics and investor sentiment become more favourable for European CLO issuance, structures were coming to market which sought...

From 1 April 2013, a new financial regulation framework will be operative in the UK. The Financial Services Authority (FSA) is being replaced by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), the Bank of England is to have...

Since the onset of the financial crisis there has been a dearth of CLO issuance in Europe, while on the other side of the Atlantic the market has rebounded healthily. Now, at long last, green shoots are beginning to emerge in a European thaw. In this article...

Securitisation markets have proved remarkably resilient since the Eurozone crisis re-ignited in the summer of 2011. Many financial institutions have found securitisation a key funding tool in markets where concern among investors about the possible failure of...

Market professionals consider that securitisation issuance in Europe in calendar year 2011 is likely to reach €100-€150 billion (excluding central bank liquidity trades). This is up from approximately €90 billion in 2010 and underlines a recovery...

Following our client briefing of earlier this week on the Eurosail appeal case we now attach a further article which explores in more detail the reasoning behind the Court of Appeal decision and its implications for the asset-backed market and a wider range of...

The Court of Appeal has reinterpreted the test for balance sheet insolvency under section 123(2) of the Insolvency Act 1986 and has made it a more complex and subjective process but this should help in preserving asset-backed structures.