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Guarantees – time to brush up the non-competition clause

Financial guarantees often contain non-competition clauses. This is mainly to:  

  • increase the financier’s recoveries from its principal debtor, by stopping the guarantor from draining money from the principal debtor; and  
  • prevent the guarantor from obstructing a restructuring of the principal debtor’s liabilities.  

A recent case suggests these clauses should expressly exclude the “rule in Cherry v. Boultbee”. Zoë Thirlwell and Alexander Hewitt explain.

Counter-indemnity rights  

United Kingdom, Insolvency & Restructuring, Litigation, Dentons, Surety, Debtor, Liability (financial accounting), HSBC, Trustee
A practical guide to the Cape Town Convention

1 Advantages to aircraft financiers

For an aircraft financier, the virtues of the Cape Town Convention and its Aircraft Equipment Protocol (together Cape Town) are that it aims to:  

Global, Asset Finance, Aviation, Insolvency & Restructuring, Dentons, Interest, Default (finance), Aircraft registration, Boeing