Jurisdiction(s):
United Kingdom

Key definition

Availability definition

What does Availability mean? In asset-based lending, availability is the borrowing headroom a borrower can draw at a given time, calculated by reference to the agreed borrowing base. It is a commercial term used in ABL facility agreements rather than a concept defined by legislation or case law in England & Wales, Scotland, Northern Ireland or Ireland. Availability typically equals the sum of advance rates applied to eligible asset classes (commonly receivables and inventory/stock, and sometimes plant and machinery or real estate components) less agreed reserves and less current utilisation, and is always capped by the facility limit. It is affected by eligibility criteria,...

Anti-suit injunctions supporting New York-seated international arbitration: US federal and New York state tests, comity considerations and relief

Published by a LexisNexis Arbitration expert

Practice notes

This Practice Note considers the availability of anti-suit injunctions in support of arbitration from New York courts.

LexisNexis® UK does not report citations to US judgments. Parties that have committed to arbitration may, once a dispute surfaces, reconsider that choice—particularly if one believes a court might deliver a more advantageous result. However, Section 3 of the Federal Arbitration Act (FAA) obliges courts to stay proceedings ‘brought in any of the courts of the United States upon any issue referable to arbitration under an agreement in writing for such arbitration...until such arbitration has been had in accordance with the terms of the agreement’, so long as the party seeking the stay has not ‘default in proceeding with such arbitration’ or otherwise relinquished its right to arbitrate (9 U.S.C. § 3; Katz v Cellco P’ship, 794 F.3d 341, 345 (2d Cir. 2015)).

For years, US federal courts disagreed on whether, in the face of a valid arbitration agreement, a court should dismiss the case or simply stay it. The US Supreme Court has now addressed that divergence in Smith v Spizzirri, 601 U.S....

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Justin Ben-Asher

Steptoe LLP

Justin Ben-Asher represents clients in commercial disputes, including in complex multidistrict litigation and international arbitrations. His work spans the aerospace and defence, energy, construction, financial services, and insurance industries, among others. His pro bono legal service includes representation of the City of New York, as well as housing and family court matters. He is a recipient of The Legal Aid Society’s Pro Bono Publico Award....

Chris Paparella

Steptoe LLP

Chris Paparella concentrates on financial services litigation and international disputes. He has represented financial institution clients in federal and state court litigation and arbitration involving mortgage-backed securities, securities fraud, lender liability and foreign exchange transactions. Chris argued and won a ground-breaking case in New York’s highest court in which he obtained the dismissal of a $300 million fraud case on the grounds that the assignment of the claims to a litigation funder violated New York’s champerty statute. Justinian Capital SPC v. West LB AG, 28 N.Y.3d 160 (2016). Chris has also represented clients in international and domestic arbitrations in New York, London, Mexico City, Paris, Amsterdam and elsewhere. Chris has developed particular familiarity and skill in the energy and process industries and has represented participants in offshore and onshore oil and gas production facilities, as well as a variety of downstream process plants and other...

Kieran R. Hawson

Steptoe LLP

Kieran Hawson is a litigator with a practice focused on complex commercial disputes and international arbitration. He represents clients in federal and state court, as well as international and domestic arbitral tribunals. His experience spans a variety of issues, including contract disputes, property disputes, and international business. His clients include multi-state domestic corporations, multinational corporations, small businesses, and individual clients. Before and during his time in law school, Kieran worked as a paralegal for a law firm handling primarily construction and property disputes. He also interned at the United States Department of Agriculture and Canadian National Railroad, where he gained valuable subject matter knowledge in the areas of environmental, administrative, and transportation law....

Web page updated on 21/05/2026

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