DIP finance meaning

In its biannual report, the FCA said that banking and credit card issues were the biggest contributor to the rise, with close to 900,000 complaints, representing a 7.2% uplift on H2 2024. The FCA also noted that complaints about pensions and the withdrawal of retirement funds increased by 5.5% between January and June 2025 to 94,000, up from 89,100 in H2 2024. Investment-related complaints advanced by a little over 10% to 58,300, compared with 53,000 previously. The FCA said the figures are used to evaluate how firms treat their customers and to track changes in their performance over time...

INSOL Europe/LexisR&I joint project on implementation of EU Directive 2019/1023—Bulgaria Lexis R&I and INSOL Europe are gathering articles from INSOL Europe’s membership and Country Coordinators, explaining how EU Member States have put into practice Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures designed to enhance the efficiency of procedures relating to restructuring, insolvency and discharge of debt, which also amends Directive (EU) 2017/1132 (the EU Directive). A summary table of the outcomes prepared by INSOL Europe in association with Lexis R&I can be accessed here: INSOL Europe/Lexis+® UK Joint Project on EU Harmonisation Directive 2019/1023: consolidated table. As a general rule, you should seek advice from local lawyers in the relevant jurisdiction to confirm the measures currently in effect and the implications of any particular circumstances or nuances of your case. Question 1: When did/will the new restructuring law come into force? What is/are the name...

In this issue: International Reorganisations, restructuring and insolvency VAT Taxes management and litigation Anti-avoidance Energy and environment Key developments Employment taxes Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information International UK government announces mandatory application of the foreign permanent establishment exemption On 21 May 2026, the government released a policy paper outlining reforms to the taxation of UK-resident companies operating partly through foreign permanent establishments (PEs), making the foreign PE exemption compulsory for most businesses for accounting periods starting on or after 1 January 2027. For UK-resident companies with foreign PEs involved in activities relating to the exploration or exploitation of oil and gas, the measure will take effect from 1 September 2026. This is achieved by deeming those companies’ accounting periods to end on 31 August 2026, with the new rules applying from the next day. The policy paper indicates the...

This Practice Note sets out Q&As on liability management exercises (LMEs) and liability management transactions (LMTs), with emphasis on loan and credit agreements. For discussion of liability management in respect of investment grade bonds, see Practice Note: Liability management of bonds. What is an LME? The label LME can cover several different concepts. In summary: For the purposes of this Practice Note alone, and for clarity: LMEs include LMTs; LMEs describe a borrower using flexibility in the finance documents (sometimes inadvertently granted by lenders) to reshape its capital structure, thereby obtaining additional and/or cheaper debt or lowering leverage; and LMEs do not involve any formal or court-led restructuring tools or processes (eg Part 26A restructuring plans (RPs) or Part 26 Schemes of Arrangement) and are therefore a form of out of court restructuring. Commonly, the debtor and a small cadre of existing (or new) lenders/bondholders/noteholders will coordinate to raise or enhance the position of participating creditors, often to the detriment or dilution of non-participants (ie a non pro...

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 many of the expressions commonly used in the leveraged finance market. Words appearing in the definitions in bold are defined elsewhere in this glossary. For further banking terminology, please refer to the main Banking & Finance Glossary... Acquisition finance glossary—A Acceleration Acceleration is the formal action taken by the agent, on the instructions of the majority lenders, following an event of default, such as making a demand for early repayment of the loan. See Practice Note: Accelerating a loan for more information... Accordion feature/accordion facility An accordion, also called an incremental debt feature, is a mechanism in the facilities agreement that, provided specified conditions are satisfied (for example, pro forma compliance with a leverage test), permits those lenders under the facilities agreement who wish to do so to advance additional debt. The terms for that extra debt are typically captured in an increase notice. This accordion or incremental debt flexibility is different from structural adjustment, which usually requires the majority consent...