DCF meaning

This glossary sets out numerous expressions frequently encountered in the restructuring arena. Words appearing in the definitions in bold are explained in other entries in this glossary. For further banking terminology, see the principal Banking & Finance Glossary. Restructuring glossary—A Acceleration: Acceleration means the agent, acting on directions from the majority lenders after an event of default, takes formal action, for example calling for early repayment of the facility. Ad-hoc committee: A temporary creditors’ group (often contrasted with a formal committee) that lacks any entitlement to official recognition. Administration: A process under the IA 1986 in which a financially distressed company is operated by an administrator as a going concern before longer-term outcomes, such as break-up and sale, are pursued. Administrator: An Insolvency Practitioner named by the court, a Qualifying floating charge holder, the directors or the company, to take control and fulfil one of the purposes in IA 1986, Sch B1. Administrative receivership: Arises when a company breaches the terms of...

This glossary sets out numerous expressions regularly encountered in the restructuring & insolvency sphere. Words shown in bold within definitions are themselves explained in other entries in this glossary as well. A Article X The MLIJ contains a single provision named Article X, aimed at jurisdictions that have already implemented the MLCBI, like England, or are weighing its adoption. Article X states: ‘Not withstanding any prior interpretation to the contrary, the relief available under [insert a cross-reference to the legislation of this State enacting Article 21 of the UNCITRAL Model Law on Cross-Border Insolvency] includes recognition and enforcement of a judgment’ (see Practice Note: UNCITRAL model law on recognition and enforcement of insolvency-related judgments (MLIJ): Article X). Asset-backed security (ABS) A form of security anchored by asset pools, for example loans, leases, and credit card receivables. Assimilated law From 1 January 2024, ‘retained law’ has been retitled ‘assimilated law’. The body of domestic law originally arising from EU obligations, created by the European...

The Waste Electrical and Electronic Equipment Regulations 2013, SI 2013/3113 WEEE 2013, SI 2013/3113, implements the requirements of Directive 2012/19/EU, the recast WEEE Directive, and repeals and replaces the Waste Electrical and Electronic Equipment Regulations 2006 (WEEE 2006), SI 2006/3289. The regime is founded on the principle of 'extended producer responsibility', under which producers accept responsibility for the environmental effects of their products, notably at the 'end of their life' when they are discarded as waste. That approach is mirrored in: Packaging Waste Regulations (SI 2007/871 and SI 2015/1640). End of Life Vehicles Regulations (SI 2005/263 and SI 2003/2635). The WEEE Directive (recast), and its predecessor Directive 2002/96/EC (WEEE Directive 2002), are likewise based on extended producer responsibility. See Practice Note: Waste electrical and electronic equipment (WEEE) Directive—snapshot for more information. Local authorities (LAs), or their contractors, operate most Designated Collection Facilities (DCFs) at civic amenity and waste collection sites. In this capacity, WEEE 2013 places obligations on LAs. Hazardous...