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Should the UK adopt Cape Town’s Alternative A Insolvency regime? Lessons from the US and Canada

This article first appeared in the December 2014 edition of Corporate Rescue & Insolvency journal. Written by Deepak Reddy in Dentons' New York office, Carlo Vairo in Dentons’ Toronto office and Alexander Hewitt in Dentons' London office.

Key Points

Canada, United Kingdom, USA, Aviation, Insolvency & Restructuring, Dentons
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